Wedbush Reduces Earnings Estimates for Cogent Biosciences

Cogent Biosciences, Inc. (NASDAQ:COGT) – Research analysts at Wedbush cut their FY2025 earnings estimates for Cogent Biosciences in a note issued to investors on Tuesday, August 5th. Wedbush analyst D. Nierengarten now forecasts that the technology company will post earnings of ($2.21) per share for the year, down from their prior estimate of ($1.49). Wedbush currently has a “Neutral” rating and a $10.00 price objective on the stock. The consensus estimate for Cogent Biosciences’ current full-year earnings is ($2.42) per share.

Cogent Biosciences (NASDAQ:COGT) last posted its quarterly earnings results on Tuesday, August 5th. The technology company reported ($0.53) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.55) by $0.02.

A number of other research firms also recently weighed in on COGT. Needham & Company LLC reissued a “hold” rating on shares of Cogent Biosciences in a research note on Tuesday, June 17th. Guggenheim reissued a “buy” rating and set a $17.00 price target on shares of Cogent Biosciences in a research note on Tuesday, July 8th. HC Wainwright dropped their price target on shares of Cogent Biosciences from $22.00 to $21.00 and set a “buy” rating for the company in a research note on Wednesday. Robert W. Baird boosted their price target on shares of Cogent Biosciences from $7.00 to $9.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 8th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Cogent Biosciences from $29.00 to $30.00 and gave the stock an “overweight” rating in a research note on Thursday. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $18.70.

Cogent Biosciences Price Performance

COGT opened at $10.96 on Friday. The company has a market cap of $1.25 billion, a price-to-earnings ratio of -6.16 and a beta of 0.36. The firm has a 50 day simple moving average of $9.24 and a 200 day simple moving average of $7.36. Cogent Biosciences has a fifty-two week low of $3.72 and a fifty-two week high of $12.97.

Insider Buying and Selling

In other news, Director Fairmount Funds Management Llc bought 2,777,777 shares of the stock in a transaction on Thursday, July 10th. The stock was purchased at an average price of $9.00 per share, with a total value of $24,999,993.00. Following the completion of the purchase, the director owned 9,003,418 shares of the company’s stock, valued at approximately $81,030,762. This trade represents a 44.62% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 7.29% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Strs Ohio acquired a new position in shares of Cogent Biosciences in the first quarter valued at approximately $36,000. CWM LLC raised its position in Cogent Biosciences by 11,869.9% during the first quarter. CWM LLC now owns 8,738 shares of the technology company’s stock worth $52,000 after acquiring an additional 8,665 shares in the last quarter. Schonfeld Strategic Advisors LLC bought a new stake in Cogent Biosciences during the fourth quarter worth $78,000. Hsbc Holdings PLC bought a new stake in Cogent Biosciences during the fourth quarter worth $81,000. Finally, KLP Kapitalforvaltning AS bought a new position in shares of Cogent Biosciences in the fourth quarter valued at about $88,000.

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.