Analysts Set Cogent Biosciences, Inc. (NASDAQ:COGT) Target Price at $14.83

Cogent Biosciences, Inc. (NASDAQ:COGT) has been assigned an average recommendation of “Moderate Buy” from the seven research firms that are presently covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $14.33.

A number of research firms have weighed in on COGT. JPMorgan Chase & Co. upped their target price on Cogent Biosciences from $19.00 to $21.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. Citigroup increased their price objective on Cogent Biosciences from $13.00 to $15.00 and gave the stock a “buy” rating in a report on Tuesday, September 24th. HC Wainwright dropped their target price on shares of Cogent Biosciences from $17.00 to $14.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Wedbush reiterated a “neutral” rating and issued a $11.00 price target on shares of Cogent Biosciences in a research note on Monday, January 13th. Finally, Needham & Company LLC lowered shares of Cogent Biosciences from a “buy” rating to a “hold” rating in a research note on Wednesday, December 11th.

Cogent Biosciences Stock Down 1.2 %

Shares of Cogent Biosciences stock opened at $8.03 on Tuesday. The company has a market cap of $886.99 million, a PE ratio of -3.24 and a beta of 1.76. The business has a 50 day moving average of $8.61 and a 200 day moving average of $9.67. Cogent Biosciences has a 52 week low of $4.28 and a 52 week high of $12.61.

Cogent Biosciences (NASDAQ:COGT) last posted its earnings results on Tuesday, November 12th. The technology company reported ($0.64) EPS for the quarter, missing the consensus estimate of ($0.57) by ($0.07). During the same period in the previous year, the firm earned ($0.64) EPS. On average, research analysts anticipate that Cogent Biosciences will post -2.42 earnings per share for the current year.

Hedge Funds Weigh In On Cogent Biosciences

Several hedge funds and other institutional investors have recently added to or reduced their stakes in COGT. Values First Advisors Inc. purchased a new position in Cogent Biosciences in the 3rd quarter worth about $32,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Cogent Biosciences by 38.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,959 shares of the technology company’s stock valued at $43,000 after purchasing an additional 1,104 shares during the last quarter. nVerses Capital LLC bought a new position in Cogent Biosciences during the third quarter valued at approximately $76,000. Quest Partners LLC purchased a new stake in Cogent Biosciences in the second quarter worth approximately $89,000. Finally, SkyView Investment Advisors LLC grew its position in Cogent Biosciences by 25.0% in the 2nd quarter. SkyView Investment Advisors LLC now owns 12,500 shares of the technology company’s stock worth $105,000 after purchasing an additional 2,500 shares during the period.

About Cogent Biosciences

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.