Cogent Biosciences (NASDAQ:COGT) Price Target Cut to $8.00 by Analysts at Robert W. Baird

Cogent Biosciences (NASDAQ:COGT) had its price target decreased by Robert W. Baird from $10.00 to $8.00 in a report released on Thursday morning,Benzinga reports. Robert W. Baird currently has a neutral rating on the technology company’s stock.

COGT has been the subject of a number of other reports. Wedbush reissued a “neutral” rating and set a $11.00 target price on shares of Cogent Biosciences in a research note on Tuesday. Needham & Company LLC restated a “hold” rating on shares of Cogent Biosciences in a research note on Wednesday. HC Wainwright cut their price objective on shares of Cogent Biosciences from $17.00 to $14.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Finally, JPMorgan Chase & Co. upped their price target on shares of Cogent Biosciences from $19.00 to $21.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $14.00.

Cogent Biosciences Stock Up 4.2 %

Shares of COGT opened at $6.99 on Thursday. The firm has a market capitalization of $772.13 million, a PE ratio of -2.82 and a beta of 1.77. Cogent Biosciences has a 12-month low of $5.73 and a 12-month high of $12.61. The stock’s fifty day simple moving average is $8.17 and its 200-day simple moving average is $9.54.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Barclays PLC raised its holdings in shares of Cogent Biosciences by 124.8% in the 3rd quarter. Barclays PLC now owns 175,684 shares of the technology company’s stock valued at $1,897,000 after acquiring an additional 97,541 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Cogent Biosciences by 20.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 825,793 shares of the technology company’s stock valued at $8,919,000 after acquiring an additional 139,096 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Cogent Biosciences by 15.1% in the third quarter. Geode Capital Management LLC now owns 2,280,793 shares of the technology company’s stock valued at $24,638,000 after acquiring an additional 300,062 shares in the last quarter. Intech Investment Management LLC purchased a new stake in Cogent Biosciences in the third quarter worth $307,000. Finally, JPMorgan Chase & Co. increased its stake in shares of Cogent Biosciences by 9.7% during the third quarter. JPMorgan Chase & Co. now owns 64,828 shares of the technology company’s stock valued at $700,000 after purchasing an additional 5,720 shares in the last quarter.

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.