Cogent Biosciences (NASDAQ:COGT) Announces Earnings Results, Misses Expectations By $0.16 EPS

Cogent Biosciences (NASDAQ:COGTGet Rating) announced its quarterly earnings results on Tuesday. The technology company reported ($0.68) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.52) by ($0.16), Fidelity Earnings reports.

NASDAQ COGT traded down $0.64 during mid-day trading on Wednesday, hitting $4.45. The stock had a trading volume of 7,635 shares, compared to its average volume of 250,421. The firm’s 50 day moving average is $7.15 and its 200 day moving average is $7.72. Cogent Biosciences has a twelve month low of $5.07 and a twelve month high of $11.06. The stock has a market capitalization of $203.89 million, a price-to-earnings ratio of -2.63 and a beta of 2.86.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Royal Bank of Canada raised its stake in Cogent Biosciences by 50.4% in the 3rd quarter. Royal Bank of Canada now owns 3,827 shares of the technology company’s stock valued at $32,000 after purchasing an additional 1,283 shares during the last quarter. Squarepoint Ops LLC purchased a new stake in Cogent Biosciences in the 4th quarter valued at $90,000. Citadel Advisors LLC purchased a new stake in Cogent Biosciences in the 3rd quarter valued at $121,000. D. E. Shaw & Co. Inc. purchased a new stake in Cogent Biosciences in the 4th quarter valued at $221,000. Finally, Dimensional Fund Advisors LP purchased a new stake in Cogent Biosciences in the 4th quarter valued at $369,000.

Separately, Zacks Investment Research raised Cogent Biosciences from a “sell” rating to a “hold” rating in a report on Tuesday, April 12th.

About Cogent Biosciences (Get Rating)

Cogent Biosciences, Inc, a biotechnology company, focuses on developing precision therapies for genetically defined diseases. Its lead product candidate includes CGT9486, a selective tyrosine kinase inhibitor designed to inhibit the 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.

Further Reading

Earnings History for Cogent Biosciences (NASDAQ:COGT)

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