Cogent Biosciences (NASDAQ:COGT) Rating Reiterated by Wedbush

Cogent Biosciences (NASDAQ:COGT)‘s stock had its “neutral” rating reaffirmed by equities researchers at Wedbush in a note issued to investors on Tuesday, RTT News reports. They currently have a $11.00 price objective on the technology company’s stock, up from their previous price objective of $10.00. Wedbush’s price objective would suggest a potential upside of 0.46% from the stock’s current price.

COGT has been the topic of a number of other research reports. HC Wainwright reduced their price objective on Cogent Biosciences from $19.00 to $17.00 and set a “buy” rating on the stock in a research note on Tuesday. JPMorgan Chase & Co. dropped their price target on Cogent Biosciences from $22.00 to $19.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 7th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $18.00 price objective on shares of Cogent Biosciences in a report on Wednesday, August 7th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $14.33.

Cogent Biosciences Trading Up 2.0 %

NASDAQ COGT traded up $0.21 during trading on Tuesday, reaching $10.95. 1,933,614 shares of the company’s stock were exchanged, compared to its average volume of 1,529,683. Cogent Biosciences has a fifty-two week low of $3.67 and a fifty-two week high of $13.23. The company’s fifty day simple moving average is $9.24 and its 200-day simple moving average is $8.05. The firm has a market capitalization of $1.05 billion, a PE ratio of -4.42 and a beta of 1.71.

Cogent Biosciences (NASDAQ:COGT) last issued its quarterly earnings data on Tuesday, August 6th. The technology company reported ($0.59) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.03). During the same quarter last year, the company earned ($0.59) earnings per share. Equities analysts forecast that Cogent Biosciences will post -2.26 EPS for the current fiscal year.

Institutional Trading of Cogent Biosciences

Hedge funds have recently added to or reduced their stakes in the company. 49 Wealth Management LLC raised its holdings in Cogent Biosciences by 20.5% in the 1st quarter. 49 Wealth Management LLC now owns 13,137 shares of the technology company’s stock valued at $91,000 after acquiring an additional 2,236 shares in the last quarter. SkyView Investment Advisors LLC raised its holdings 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 valued at $105,000 after acquiring an additional 2,500 shares in the last quarter. ProShare Advisors LLC raised its holdings in Cogent Biosciences by 15.3% in the 1st quarter. ProShare Advisors LLC now owns 22,206 shares of the technology company’s stock valued at $149,000 after acquiring an additional 2,953 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in Cogent Biosciences by 8.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 52,379 shares of the technology company’s stock valued at $352,000 after acquiring an additional 3,912 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of Cogent Biosciences by 12.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 35,211 shares of the technology company’s stock valued at $237,000 after purchasing an additional 4,030 shares during the last quarter.

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.