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

Shares of Cogent Biosciences, Inc. (NASDAQ:COGT) have earned a consensus recommendation of “Moderate Buy” from the seven analysts that are currently covering the company, MarketBeat reports. Two analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $13.67.

Several research firms have weighed in on COGT. Leerink Partnrs reiterated an “outperform” rating on shares of Cogent Biosciences in a report on Thursday, February 22nd. Wedbush raised their price target on Cogent Biosciences from $5.00 to $10.00 and gave the stock a “neutral” rating in a research note on Friday, February 23rd. Needham & Company LLC reissued a “buy” rating and set a $18.00 price objective on shares of Cogent Biosciences in a research report on Wednesday. JPMorgan Chase & Co. raised their target price on shares of Cogent Biosciences from $18.00 to $20.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 27th. Finally, Citigroup boosted their price target on shares of Cogent Biosciences from $11.00 to $13.00 and gave the company a “buy” rating in a research report on Monday, February 26th.

Cogent Biosciences Stock Performance

Shares of Cogent Biosciences stock opened at $7.60 on Thursday. The company’s 50 day moving average price is $6.74 and its 200-day moving average price is $6.61. Cogent Biosciences has a 52-week low of $3.67 and a 52-week high of $13.50. The stock has a market capitalization of $726.64 million, a price-to-earnings ratio of -3.17 and a beta of 1.57.

Cogent Biosciences (NASDAQ:COGT) last released its quarterly earnings data on Tuesday, May 7th. The technology company reported ($0.62) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.11). As a group, equities research analysts forecast that Cogent Biosciences will post -1.89 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cogent Biosciences

A number of hedge funds and other institutional investors have recently bought and sold shares of COGT. Entropy Technologies LP bought a new stake in shares of Cogent Biosciences in the 1st quarter worth approximately $213,000. ProShare Advisors LLC grew its stake in shares of Cogent Biosciences by 15.3% in the first quarter. ProShare Advisors LLC now owns 22,206 shares of the technology company’s stock worth $149,000 after acquiring an additional 2,953 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in shares of 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. 49 Wealth Management LLC raised its position in shares of Cogent Biosciences by 20.5% in the 1st quarter. 49 Wealth Management LLC now owns 13,137 shares of the technology company’s stock worth $91,000 after purchasing an additional 2,236 shares during the last quarter. Finally, Swiss National Bank raised its position in shares of Cogent Biosciences by 33.9% in the 1st quarter. Swiss National Bank now owns 124,000 shares of the technology company’s stock worth $833,000 after purchasing an additional 31,400 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.