Cogent Biosciences (NASDAQ:COGT) Given Buy Rating at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Cogent Biosciences (NASDAQ:COGT) in a research note released on Tuesday morning,Benzinga reports. The firm currently has a $21.00 target price on the technology company’s stock.

A number of other equities analysts have also weighed in on the company. Leerink Partners upped their target price on Cogent Biosciences from $16.00 to $18.00 and gave the stock an “outperform” rating in a research report on Monday, July 7th. Jefferies Financial Group upped their target price on Cogent Biosciences from $23.00 to $28.00 and gave the stock a “buy” rating in a research report on Monday, July 7th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Cogent Biosciences in a research report on Wednesday, October 8th. JPMorgan Chase & Co. upped their target price on Cogent Biosciences from $30.00 to $44.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 21st. Finally, Citigroup upped their target price on Cogent Biosciences from $15.00 to $22.00 and gave the stock a “buy” rating in a research report on Friday, July 18th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $20.83.

Cogent Biosciences Stock Down 8.8%

Shares of NASDAQ:COGT opened at $14.13 on Tuesday. Cogent Biosciences has a twelve month low of $3.72 and a twelve month high of $17.15. The stock’s 50 day moving average is $14.25 and its 200-day moving average is $10.32. The firm has a market capitalization of $1.61 billion, a price-to-earnings ratio of -7.94 and a beta of 0.41.

Cogent Biosciences (NASDAQ:COGT) last issued its 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. Equities research analysts anticipate that Cogent Biosciences will post -2.42 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cogent Biosciences

A number of institutional investors and hedge funds have recently bought and sold shares of COGT. Arizona State Retirement System raised its position in Cogent Biosciences by 18.0% in the 1st quarter. Arizona State Retirement System now owns 20,567 shares of the technology company’s stock valued at $123,000 after buying an additional 3,142 shares during the last quarter. CWM LLC grew its stake in Cogent Biosciences by 11,869.9% in the 1st quarter. CWM LLC now owns 8,738 shares of the technology company’s stock valued at $52,000 after purchasing an additional 8,665 shares during the period. Swiss National Bank grew its stake in Cogent Biosciences by 17.5% in the 1st quarter. Swiss National Bank now owns 139,100 shares of the technology company’s stock valued at $833,000 after purchasing an additional 20,700 shares during the period. Invesco Ltd. grew its stake in Cogent Biosciences by 77.9% in the 1st quarter. Invesco Ltd. now owns 68,743 shares of the technology company’s stock valued at $412,000 after purchasing an additional 30,102 shares during the period. Finally, Nuveen LLC bought a new position in Cogent Biosciences in the 1st quarter valued at $1,401,000.

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.