Cogent Biosciences, Inc. Forecasted to Post FY2023 Earnings of ($1.94) Per Share (NASDAQ:COGT)

Cogent Biosciences, Inc. (NASDAQ:COGT – Get Rating) – Equities research analysts at Lifesci Capital issued their FY2023 earnings estimates for Cogent Biosciences in a research report issued on Tuesday, March 14th. Lifesci Capital analyst S. Slutsky forecasts that the technology company will post earnings of ($1.94) per share for the year. The consensus estimate for Cogent Biosciences’ current full-year earnings is ($2.08) per share.

A number of other analysts have also issued reports on COGT. SVB Leerink lifted their price target on shares of Cogent Biosciences from $18.00 to $20.00 and gave the stock an “outperform” rating in a research note on Thursday, January 5th. Guggenheim reiterated a “buy” rating and set a $26.00 target price on shares of Cogent Biosciences in a research note on Wednesday. Finally, Needham & Company LLC lowered their target price on shares of Cogent Biosciences from $24.00 to $23.00 and set a “buy” rating for the company in a research note on Wednesday.

Cogent Biosciences Trading Down 3.3 %

Shares of NASDAQ:COGT opened at $11.76 on Thursday. The company has a fifty day simple moving average of $13.38 and a 200 day simple moving average of $13.29. The firm has a market cap of $538.84 million, a PE ratio of -4.70 and a beta of 1.75. Cogent Biosciences has a 12-month low of $3.79 and a 12-month high of $18.07.

Institutional Trading of Cogent Biosciences

Several institutional investors have recently added to or reduced their stakes in COGT. Deerfield Management Company L.P. Series C boosted its holdings in shares of Cogent Biosciences by 267.1% during the second quarter. Deerfield Management Company L.P. Series C now owns 5,876,805 shares of the technology company’s stock valued at $53,009,000 after acquiring an additional 4,275,805 shares during the period. RA Capital Management L.P. acquired a new position in shares of Cogent Biosciences during the third quarter valued at $59,881,000. State Street Corp boosted its holdings in shares of Cogent Biosciences by 391.0% during the third quarter. State Street Corp now owns 3,408,602 shares of the technology company’s stock valued at $50,856,000 after acquiring an additional 2,714,447 shares during the period. Marshall Wace LLP acquired a new position in shares of Cogent Biosciences during the fourth quarter valued at $17,116,000. Finally, Commodore Capital LP boosted its holdings in shares of Cogent Biosciences by 41.2% during the second quarter. Commodore Capital LP now owns 4,944,708 shares of the technology company’s stock valued at $44,601,000 after acquiring an additional 1,443,940 shares during the period.

Cogent Biosciences Company Profile

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Cogent Biosciences, Inc is a clinical-stage biopharmaceutical company, which engages in the development and commercialization of precision therapies for genetically defined diseases. It focuses on CGT9486, a selective tyrosine kinase inhibitor that is designed to potently inhibit the KIT D816V mutation as well as other mutations in KIT exon 17.