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

Shares of Cogent Biosciences, Inc. (NASDAQ:COGT) have been assigned an average recommendation of “Moderate Buy” from the fourteen research firms that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, four have given a hold recommendation, seven have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $20.8333.

Several research analysts recently commented on COGT shares. Citigroup increased their price objective on Cogent Biosciences from $15.00 to $22.00 and gave the company a “buy” rating in a research note on Friday, July 18th. HC Wainwright reaffirmed a “buy” rating and set a $21.00 target price on shares of Cogent Biosciences in a report on Tuesday, November 4th. Guggenheim raised their price target on shares of Cogent Biosciences from $17.00 to $20.00 and gave the stock a “buy” rating in a research note on Monday, August 25th. JPMorgan Chase & Co. boosted their price target on shares of Cogent Biosciences from $30.00 to $44.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 21st. Finally, Raymond James Financial assumed coverage on shares of Cogent Biosciences in a report on Tuesday, September 2nd. They issued a “strong-buy” rating and a $30.00 price objective for the company.

Cogent Biosciences Stock Up 0.7%

Shares of NASDAQ COGT opened at $14.82 on Monday. The firm has a market cap of $1.69 billion, a price-to-earnings ratio of -9.04 and a beta of 0.41. The company’s 50-day simple moving average is $14.40 and its 200-day simple moving average is $10.53. Cogent Biosciences has a 52-week low of $3.72 and a 52-week high of $17.15.

Cogent Biosciences (NASDAQ:COGT) last issued its quarterly earnings results on Monday, November 3rd. The technology company reported ($0.50) earnings per share for the quarter. Equities research analysts anticipate that Cogent Biosciences will post -2.42 EPS for the current fiscal year.

Hedge Funds Weigh In On Cogent Biosciences

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Osaic Holdings Inc. grew its holdings in Cogent Biosciences by 41.4% in the 2nd quarter. Osaic Holdings Inc. now owns 4,550 shares of the technology company’s stock valued at $33,000 after buying an additional 1,333 shares in the last quarter. Strs Ohio purchased a new stake in shares of Cogent Biosciences in the first quarter valued at about $36,000. CWM LLC increased 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 purchasing an additional 8,665 shares during the last quarter. Ameritas Investment Partners Inc. raised its stake in Cogent Biosciences by 16.6% during the second quarter. Ameritas Investment Partners Inc. now owns 10,839 shares of the technology company’s stock worth $78,000 after purchasing an additional 1,543 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in Cogent Biosciences by 22.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,401 shares of the technology company’s stock valued at $78,000 after purchasing an additional 1,003 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.