Cogent Biosciences (NASDAQ:COGT) Trading Down 5.2%

Cogent Biosciences, Inc. (NASDAQ:COGTGet Free Report)’s share price dropped 5.2% during trading on Monday . The company traded as low as $6.01 and last traded at $6.06. Approximately 194,680 shares changed hands during trading, a decline of 91% from the average daily volume of 2,250,914 shares. The stock had previously closed at $6.39.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on COGT shares. Leerink Partnrs reiterated an “outperform” rating on shares of Cogent Biosciences in a research report on Thursday, February 22nd. Wedbush upped their price objective on Cogent Biosciences from $5.00 to $10.00 and gave the stock a “neutral” rating in a research report on Friday, February 23rd. JPMorgan Chase & Co. boosted their target price on shares of Cogent Biosciences from $18.00 to $20.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 27th. Needham & Company LLC reaffirmed a “buy” rating and set a $18.00 price objective on shares of Cogent Biosciences in a research note on Monday, February 26th. Finally, HC Wainwright decreased their target price on shares of Cogent Biosciences from $27.00 to $13.00 and set a “buy” rating on the stock in a report on Friday, December 15th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $13.67.

View Our Latest Research Report on COGT

Cogent Biosciences Trading Up 1.0 %

The stock’s fifty day moving average price is $6.37 and its two-hundred day moving average price is $7.32. The firm has a market capitalization of $606.31 million, a price-to-earnings ratio of -2.43 and a beta of 1.52.

Cogent Biosciences (NASDAQ:COGTGet Free Report) last announced its quarterly earnings data on Monday, February 26th. The technology company reported ($0.63) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.08). Analysts anticipate that Cogent Biosciences, Inc. will post -1.87 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cogent Biosciences

Several hedge funds and other institutional investors have recently bought and sold shares of COGT. MetLife Investment Management LLC raised its stake in Cogent Biosciences by 285.8% during the 1st quarter. MetLife Investment Management LLC now owns 16,460 shares of the technology company’s stock worth $123,000 after acquiring an additional 12,193 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Cogent Biosciences by 66.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 71,423 shares of the technology company’s stock worth $535,000 after acquiring an additional 28,422 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in Cogent Biosciences during the 1st quarter worth $86,000. State Street Corp increased its stake in Cogent Biosciences by 4.6% in the first quarter. State Street Corp now owns 625,632 shares of the technology company’s stock valued at $4,686,000 after purchasing an additional 27,624 shares during the period. Finally, Woodline Partners LP acquired a new position in Cogent Biosciences in the first quarter valued at $276,000.

About Cogent Biosciences

(Get Free Report)

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.

See Also

Receive News & Ratings for Cogent Biosciences Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cogent Biosciences and related companies with MarketBeat.com's FREE daily email newsletter.