Cogent Biosciences, Inc. (NASDAQ:COGT) Given Average Recommendation of "Moderate Buy" by Brokerages

Cogent Biosciences, Inc. (NASDAQ:COGT - Get Free Report) has received a consensus rating of "Moderate Buy" from the ten ratings firms that are covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $16.33.

Several equities analysts recently commented on the company. JPMorgan Chase & Co. increased their target price on Cogent Biosciences from $21.00 to $25.00 and gave the company an "overweight" rating in a report on Thursday, May 29th. Leerink Partners raised their price target on Cogent Biosciences from $16.00 to $18.00 and gave the stock an "outperform" rating in a report on Monday. Wedbush reiterated a "neutral" rating and issued a $10.00 target price on shares of Cogent Biosciences in a research note on Monday, June 30th. Needham & Company LLC reiterated a "hold" rating on shares of Cogent Biosciences in a research report on Tuesday, June 17th. Finally, Robert W. Baird reduced their price target on Cogent Biosciences from $8.00 to $7.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 7th.

Institutional Investors Weigh In On Cogent Biosciences

Several hedge funds and other institutional investors have recently added to or reduced their stakes in COGT. Proficio Capital Partners LLC purchased a new stake in Cogent Biosciences in the 4th quarter valued at about $93,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Cogent Biosciences by 0.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 833,155 shares of the technology company's stock valued at $6,499,000 after purchasing an additional 7,362 shares during the last quarter. E Fund Management Co. Ltd. purchased a new position in shares of Cogent Biosciences in the 4th quarter valued at approximately $89,000. Intech Investment Management LLC raised its holdings in shares of Cogent Biosciences by 99.3% in the fourth quarter. Intech Investment Management LLC now owns 56,657 shares of the technology company's stock worth $442,000 after buying an additional 28,233 shares during the last quarter. Finally, Teacher Retirement System of Texas raised its stake in Cogent Biosciences by 15.4% in the 4th quarter. Teacher Retirement System of Texas now owns 17,983 shares of the technology company's stock worth $140,000 after acquiring an additional 2,396 shares during the last quarter.

Cogent Biosciences Trading Up 23.4%

COGT opened at $9.35 on Tuesday. The firm's 50 day simple moving average is $6.13 and its two-hundred day simple moving average is $6.75. 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 $1.06 billion, a PE ratio of -5.08 and a beta of 1.88.

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, beating the consensus estimate of ($0.56) by $0.04. Equities 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.

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