Cogent Biosciences (NASDAQ:COGT) Given "Neutral" Rating at Wedbush

Cogent Biosciences (NASDAQ:COGT - Get Free Report)'s stock had its "neutral" rating reaffirmed by Wedbush in a report released on Monday,RTT News reports. They presently have a $10.00 price objective on the technology company's stock. Wedbush's price objective would indicate a potential upside of 38.50% from the company's current price.

A number of other equities research analysts have also commented on the company. Robert W. Baird dropped their price target on Cogent Biosciences from $8.00 to $7.00 and set a "neutral" rating for the company in a report on Wednesday, May 7th. Scotiabank assumed coverage on shares of Cogent Biosciences in a research report on Friday, March 7th. They set a "sector outperform" rating and a $17.00 price objective for the company. JPMorgan Chase & Co. increased their price objective on shares of Cogent Biosciences from $21.00 to $25.00 and gave the stock an "overweight" rating in a research note on Thursday, May 29th. Needham & Company LLC reissued a "hold" rating on shares of Cogent Biosciences in a research note on Tuesday, June 17th. Finally, HC Wainwright cut their price objective on shares of Cogent Biosciences from $14.00 to $12.00 and set a "buy" rating on the stock in a research report on Tuesday, May 20th. Three analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $14.43.

Cogent Biosciences Trading Up 0.6%

NASDAQ:COGT traded up $0.04 during mid-day trading on Monday, hitting $7.22. The stock had a trading volume of 2,323,988 shares, compared to its average volume of 1,335,596. Cogent Biosciences has a 52 week low of $3.72 and a 52 week high of $12.61. The stock has a market capitalization of $822.07 million, a price-to-earnings ratio of -3.92 and a beta of 1.82. The company has a 50 day simple moving average of $5.81 and a 200-day simple moving average of $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 the consensus estimate of ($0.56) by $0.04. As a group, equities research analysts anticipate that Cogent Biosciences will post -2.42 earnings per share for the current year.

Hedge Funds Weigh In On Cogent Biosciences

A number of large investors have recently made changes to their positions in the company. Strs Ohio purchased a new position in shares of Cogent Biosciences in the 1st quarter valued at $36,000. CWM LLC increased its position in shares of Cogent Biosciences by 11,869.9% in the first quarter. CWM LLC now owns 8,738 shares of the technology company's stock valued at $52,000 after buying an additional 8,665 shares in the last quarter. Schonfeld Strategic Advisors LLC acquired a new position in shares of Cogent Biosciences during the 4th quarter worth about $78,000. Hsbc Holdings PLC acquired a new stake in Cogent Biosciences during the 4th quarter worth $81,000. Finally, KLP Kapitalforvaltning AS acquired a new position in Cogent Biosciences during the fourth quarter worth $88,000.

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.