Analysts Set Cogent Biosciences, Inc. (NASDAQ:COGT) Price Target at $14.67

Cogent Biosciences, Inc. (NASDAQ:COGT) has received an average recommendation of “Moderate Buy” from the seven analysts that are covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $14.67.

Several analysts recently commented on COGT shares. Wedbush reaffirmed a “neutral” rating and set a $10.00 target price on shares of Cogent Biosciences in a report on Friday, May 24th. Needham & Company LLC reaffirmed a “buy” rating and issued a $18.00 price target on shares of Cogent Biosciences in a research note on Thursday. Finally, HC Wainwright reaffirmed a “buy” rating and set a $19.00 target price on shares of Cogent Biosciences in a research note on Monday, June 17th.

Hedge Funds Weigh In On Cogent Biosciences

A number of large investors have recently modified their holdings of the business. AJOVista LLC acquired a new stake in shares of Cogent Biosciences during the fourth quarter valued at $45,000. China Universal Asset Management Co. Ltd. grew its stake in shares of Cogent Biosciences by 355.0% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 9,961 shares of the technology company’s stock valued at $59,000 after buying an additional 7,772 shares in the last quarter. Russell Investments Group Ltd. lifted its position in Cogent Biosciences by 234.5% during the 1st quarter. Russell Investments Group Ltd. now owns 10,014 shares of the technology company’s stock worth $67,000 after acquiring an additional 7,020 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Cogent Biosciences in the fourth quarter valued at $70,000. Finally, NEOS Investment Management LLC purchased a new position in Cogent Biosciences in the 4th quarter valued at about $76,000.

Cogent Biosciences Stock Performance

NASDAQ COGT opened at $8.43 on Friday. The company has a market cap of $805.99 million, a PE ratio of -3.40 and a beta of 1.60. Cogent Biosciences has a 52-week low of $3.67 and a 52-week high of $13.36. The firm’s 50 day moving average price is $7.89 and its 200-day moving average price is $6.78.

Cogent Biosciences (NASDAQ:COGT) last announced its earnings results on Tuesday, May 7th. The technology company reported ($0.62) earnings per share for the quarter, missing the consensus estimate of ($0.51) by ($0.11). On average, analysts forecast that Cogent Biosciences will post -2.19 earnings per share for the current fiscal year.

Cogent Biosciences Company Profile

Cogent Biosciences, Inc, a biotechnology company, focuses on developing precision therapies for genetically defined diseases. Its lead product candidate includes bezuclastinib (CGT9486), a selective tyrosine kinase inhibitor designed to target mutations within the KIT receptor tyrosine kinase, including KIT D816V KIT D816V mutation that drives systemic mastocytosis, as well as other mutations in KIT exon 17, which are found in patients with advanced gastrointestinal stromal tumors.