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

Cogent Biosciences, Inc. (NASDAQ:COGT) has been assigned a consensus recommendation of “Moderate Buy” from the seven brokerages that are presently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $14.33.

A number of research firms recently commented on COGT. Needham & Company LLC lowered shares of Cogent Biosciences from a “buy” rating to a “hold” rating in a research note on Wednesday, December 11th. HC Wainwright lowered their target price on Cogent Biosciences from $17.00 to $14.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. JPMorgan Chase & Co. lifted their price objective on Cogent Biosciences from $19.00 to $21.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. Finally, Wedbush restated a “neutral” rating and issued a $11.00 price objective on shares of Cogent Biosciences in a research note on Monday, January 13th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Values First Advisors Inc. bought a new stake in shares of Cogent Biosciences during the 3rd quarter valued at $32,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in Cogent Biosciences by 38.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,959 shares of the technology company’s stock worth $43,000 after purchasing an additional 1,104 shares during the last quarter. nVerses Capital LLC bought a new stake in Cogent Biosciences during the third quarter valued at $76,000. KLP Kapitalforvaltning AS acquired a new stake in Cogent Biosciences during the fourth quarter worth approximately $88,000. Finally, E Fund Management Co. Ltd. bought a new stake in shares of Cogent Biosciences in the 4th quarter valued at $89,000.

Cogent Biosciences Trading Down 3.3 %

COGT opened at $8.14 on Friday. Cogent Biosciences has a twelve month low of $5.37 and a twelve month high of $12.61. The company has a fifty day simple moving average of $8.37 and a 200 day simple moving average of $9.66. The firm has a market cap of $899.14 million, a price-to-earnings ratio of -3.28 and a beta of 1.77.

Cogent Biosciences (NASDAQ:COGT) last issued its quarterly earnings data on Tuesday, November 12th. The technology company reported ($0.64) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.57) by ($0.07). During the same period last year, the business posted ($0.64) earnings per share. On average, analysts forecast that Cogent Biosciences will post -2.42 earnings per share for the current fiscal year.

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.