FY2022 EPS Estimates for Cogent Biosciences, Inc. Increased by Analyst (NASDAQ:COGT)

Cogent Biosciences, Inc. (NASDAQ:COGTGet Rating) – Investment analysts at Wedbush raised their FY2022 earnings per share (EPS) estimates for shares of Cogent Biosciences in a research report issued on Monday, November 14th. Wedbush analyst D. Nierengarten now anticipates that the technology company will earn ($2.31) per share for the year, up from their previous forecast of ($2.39). The consensus estimate for Cogent Biosciences’ current full-year earnings is ($2.34) per share. Wedbush also issued estimates for Cogent Biosciences’ Q4 2022 earnings at ($0.49) EPS, Q1 2023 earnings at ($0.50) EPS, Q2 2023 earnings at ($0.42) EPS, Q4 2023 earnings at ($0.41) EPS, FY2023 earnings at ($1.73) EPS, FY2024 earnings at ($1.54) EPS, FY2025 earnings at ($1.45) EPS and FY2026 earnings at ($1.03) EPS.

A number of other brokerages have also weighed in on COGT. SVB Leerink cut their price objective on Cogent Biosciences from $20.00 to $18.00 and set an “outperform” rating on the stock in a report on Thursday. Guggenheim increased their price objective on Cogent Biosciences to $18.00 in a report on Monday, August 15th.

Cogent Biosciences Stock Performance

Shares of COGT stock opened at $10.91 on Thursday. The stock’s 50-day simple moving average is $13.98 and its 200-day simple moving average is $11.30. The firm has a market capitalization of $499.89 million, a PE ratio of -4.36 and a beta of 1.73. Cogent Biosciences has a fifty-two week low of $3.79 and a fifty-two week high of $18.07.

Institutional Trading of Cogent Biosciences

Hedge funds have recently modified their holdings of the stock. US Bancorp DE boosted its stake in shares of Cogent Biosciences by 70.9% in the third quarter. US Bancorp DE now owns 2,224 shares of the technology company’s stock worth $33,000 after buying an additional 923 shares during the last quarter. Federated Hermes Inc. purchased a new stake in shares of Cogent Biosciences in the third quarter worth about $46,000. Metropolitan Life Insurance Co NY boosted its stake in shares of Cogent Biosciences by 46.2% in the third quarter. Metropolitan Life Insurance Co NY now owns 3,857 shares of the technology company’s stock worth $58,000 after buying an additional 1,218 shares during the last quarter. Amalgamated Bank purchased a new stake in shares of Cogent Biosciences in the first quarter worth about $37,000. Finally, Quantbot Technologies LP boosted its stake in shares of Cogent Biosciences by 150.0% in the second quarter. Quantbot Technologies LP now owns 6,000 shares of the technology company’s stock worth $54,000 after buying an additional 3,600 shares during the last quarter.

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.

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Earnings History and Estimates for Cogent Biosciences (NASDAQ:COGT)

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