Cogent Biosciences (NASDAQ:COGT) Receives "Neutral" Rating from Wedbush

Cogent Biosciences (NASDAQ:COGT - Get Free Report)'s stock had its "neutral" rating restated by analysts at Wedbush in a research note issued on Monday,RTT News reports. They currently have a $10.00 target price on the technology company's stock. Wedbush's price objective suggests a potential upside of 31.32% from the company's previous close. Wedbush also issued estimates for Cogent Biosciences' FY2026 earnings at ($1.12) EPS, FY2027 earnings at ($0.78) EPS and FY2028 earnings at ($0.23) EPS.

A number of other analysts have also recently weighed in on COGT. Robert W. Baird cut their price objective on shares of Cogent Biosciences from $8.00 to $7.00 and set a "neutral" rating on the stock in a report on Wednesday, May 7th. HC Wainwright reduced their price target on shares of Cogent Biosciences from $14.00 to $12.00 and set a "buy" rating for the company in a research report on Tuesday, May 20th. Needham & Company LLC restated a "hold" rating on shares of Cogent Biosciences in a research note on Tuesday, June 17th. Scotiabank started coverage on Cogent Biosciences in a research report on Friday, March 7th. They set a "sector outperform" rating and a $17.00 target price on the stock. Finally, Piper Sandler raised Cogent Biosciences to a "strong-buy" rating in a report on Friday, March 7th. Three analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Cogent Biosciences presently has a consensus rating of "Moderate Buy" and a consensus target price of $14.43.

Cogent Biosciences Price Performance

Shares of NASDAQ COGT traded up $0.21 during mid-day trading on Monday, hitting $7.62. The company had a trading volume of 1,862,978 shares, compared to its average volume of 1,345,019. Cogent Biosciences has a 1-year low of $3.72 and a 1-year high of $12.61. The company has a market capitalization of $867.04 million, a PE ratio of -4.14 and a beta of 1.88. The business's 50-day simple moving average is $5.98 and its 200 day simple moving average is $6.75.

Cogent Biosciences (NASDAQ:COGT - Get Free Report) last released its earnings results on Tuesday, May 6th. The technology company reported ($0.52) earnings per share for the quarter, topping analysts' consensus estimates of ($0.56) by $0.04. On average, analysts expect that Cogent Biosciences will post -2.42 EPS for the current year.

Hedge Funds Weigh In On Cogent Biosciences

Several institutional investors have recently added to or reduced their stakes in the stock. Janus Henderson Group PLC increased its holdings in shares of Cogent Biosciences by 84.3% in the fourth quarter. Janus Henderson Group PLC now owns 29,073 shares of the technology company's stock valued at $227,000 after purchasing an additional 13,300 shares during the period. Ameriprise Financial Inc. increased its stake in Cogent Biosciences by 78.6% in the 4th quarter. Ameriprise Financial Inc. now owns 21,499 shares of the technology company's stock valued at $168,000 after buying an additional 9,459 shares during the period. ProShare Advisors LLC increased its stake in Cogent Biosciences by 30.5% in the 4th quarter. ProShare Advisors LLC now owns 31,074 shares of the technology company's stock valued at $242,000 after buying an additional 7,267 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Cogent Biosciences by 15.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 135,604 shares of the technology company's stock worth $1,058,000 after buying an additional 17,741 shares during the last quarter. Finally, New York State Common Retirement Fund raised its position in Cogent Biosciences by 10.5% during the 4th quarter. New York State Common Retirement Fund now owns 23,102 shares of the technology company's stock worth $180,000 after buying an additional 2,200 shares during the last quarter.

About Cogent Biosciences

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.