Cogent Biosciences, Inc. (NASDAQ:COGT) Given Consensus Rating of “Moderate Buy” by Analysts

Cogent Biosciences, Inc. (NASDAQ:COGT) has earned a consensus rating of “Moderate Buy” from the seven brokerages that are currently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $14.83.

COGT has been the topic of a number of research reports. Wedbush reissued a “neutral” rating and set a $11.00 target price on shares of Cogent Biosciences in a report on Tuesday, November 12th. Robert W. Baird increased their target price on shares of Cogent Biosciences from $8.00 to $10.00 and gave the stock a “neutral” rating in a report on Thursday, September 5th. Citigroup increased their target price on shares of Cogent Biosciences from $13.00 to $15.00 and gave the stock a “buy” rating in a report on Tuesday, September 24th. HC Wainwright reissued a “buy” rating and set a $17.00 target price on shares of Cogent Biosciences in a report on Monday, November 4th. Finally, Needham & Company LLC dropped their target price on shares of Cogent Biosciences from $16.00 to $15.00 and set a “buy” rating on the stock in a report on Wednesday, November 13th.

Cogent Biosciences Trading Down 0.7 %

NASDAQ COGT opened at $9.51 on Monday. The stock has a market cap of $1.05 billion, a P/E ratio of -3.83 and a beta of 1.72. The company’s fifty day simple moving average is $10.74 and its 200-day simple moving average is $9.66. Cogent Biosciences has a 52 week low of $3.67 and a 52 week high of $12.61.

Cogent Biosciences (NASDAQ:COGT) last posted its quarterly earnings data on Tuesday, November 12th. The technology company reported ($0.64) EPS for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.07). During the same quarter in the previous year, the company posted ($0.64) EPS. On average, research analysts expect that Cogent Biosciences will post -2.4 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Values First Advisors Inc. purchased a new stake in shares of Cogent Biosciences in the third quarter worth approximately $32,000. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Cogent Biosciences by 38.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,959 shares of the technology company’s stock worth $43,000 after purchasing an additional 1,104 shares in the last quarter. Russell Investments Group Ltd. raised its position in Cogent Biosciences by 234.5% during the first quarter. Russell Investments Group Ltd. now owns 10,014 shares of the technology company’s stock valued at $67,000 after acquiring an additional 7,020 shares in the last quarter. nVerses Capital LLC bought a new position in Cogent Biosciences during the third quarter valued at approximately $76,000. Finally, Quest Partners LLC bought a new position in Cogent Biosciences during the second quarter valued at approximately $89,000.

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.