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

Shares of Cogent Biosciences, Inc. (NASDAQ:COGT) have received a consensus rating of “Moderate Buy” from the seven ratings firms that are presently covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $14.33.

A number of research firms recently issued reports on COGT. Citigroup increased their target price on shares of Cogent Biosciences from $13.00 to $15.00 and gave the stock a “buy” rating in a research report on Tuesday, September 24th. Needham & Company LLC downgraded shares of Cogent Biosciences from a “buy” rating to a “hold” rating in a research note on Wednesday, December 11th. HC Wainwright decreased their price target on shares of Cogent Biosciences from $17.00 to $14.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Wedbush reiterated a “neutral” rating and issued a $11.00 price target on shares of Cogent Biosciences in a report on Monday, January 13th. Finally, JPMorgan Chase & Co. boosted their price objective on Cogent Biosciences from $19.00 to $21.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th.

Cogent Biosciences Stock Performance

Shares of COGT stock opened at $8.03 on Tuesday. The firm has a market capitalization of $886.99 million, a price-to-earnings ratio of -3.24 and a beta of 1.76. The company has a 50 day moving average price of $8.56 and a 200 day moving average price of $9.68. Cogent Biosciences has a one year low of $4.28 and a one year high of $12.61.

Cogent Biosciences (NASDAQ:COGT) last issued its earnings results on Tuesday, November 12th. The technology company reported ($0.64) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.07). During the same quarter in the previous year, the business posted ($0.64) earnings per share. As a group, equities analysts forecast that Cogent Biosciences will post -2.42 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Values First Advisors Inc. purchased a new stake in Cogent Biosciences during the 3rd quarter worth approximately $32,000. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Cogent Biosciences by 38.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,959 shares of the technology company’s stock worth $43,000 after buying an additional 1,104 shares in the last quarter. nVerses Capital LLC bought a new stake in shares of Cogent Biosciences in the third quarter worth $76,000. Victory Capital Management Inc. acquired a new stake in Cogent Biosciences in the third quarter valued at $113,000. Finally, Quest Partners LLC bought a new position in Cogent Biosciences during the 2nd quarter valued at $89,000.

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.