Robert W. Baird Cuts Cogent Biosciences (NASDAQ:COGT) Price Target to $8.00

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

Several other research analysts have also recently issued reports on COGT. JPMorgan Chase & Co. increased their price target on Cogent Biosciences from $19.00 to $21.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. Needham & Company LLC reissued a “hold” rating on shares of Cogent Biosciences in a research note on Wednesday. Wedbush reissued a “neutral” rating and issued a $11.00 price target on shares of Cogent Biosciences in a research note on Tuesday, February 25th. Finally, HC Wainwright decreased their price target on Cogent Biosciences from $17.00 to $14.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $14.00.

Cogent Biosciences Price Performance

Shares of NASDAQ COGT opened at $7.53 on Thursday. Cogent Biosciences has a 1-year low of $5.73 and a 1-year high of $12.61. The business’s fifty day moving average price is $8.17 and its two-hundred day moving average price is $9.54. The firm has a market capitalization of $857.29 million, a PE ratio of -3.04 and a beta of 1.77.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Barclays PLC boosted its stake in Cogent Biosciences by 124.8% during the third quarter. Barclays PLC now owns 175,684 shares of the technology company’s stock valued at $1,897,000 after buying an additional 97,541 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in 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 buying an additional 139,096 shares in the last quarter. Geode Capital Management LLC boosted its stake in Cogent Biosciences by 15.1% during 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 buying an additional 300,062 shares in the last quarter. Intech Investment Management LLC bought a new position in Cogent Biosciences during the third quarter valued at about $307,000. Finally, JPMorgan Chase & Co. boosted its stake in 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 buying 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.