Analysts Set Cogent Biosciences, Inc. (NASDAQ:COGT) PT at $16.33

Cogent Biosciences, Inc. (NASDAQ:COGT - Get Free Report) has earned a consensus rating of "Moderate Buy" from the eleven brokerages that are covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $18.00.

A number of analysts recently commented on COGT shares. Jefferies Financial Group boosted their target price on Cogent Biosciences from $23.00 to $28.00 and gave the company a "buy" rating in a research report on Monday. Leerink Partners lifted their price target on Cogent Biosciences from $16.00 to $18.00 and gave the company an "outperform" rating in a research note on Monday. Needham & Company LLC restated a "hold" rating on shares of Cogent Biosciences in a research note on Tuesday, June 17th. Guggenheim reaffirmed a "buy" rating and issued a $17.00 price target on shares of Cogent Biosciences in a report on Tuesday. Finally, Wedbush reaffirmed a "neutral" rating and issued a $10.00 price target on shares of Cogent Biosciences in a report on Monday, June 30th.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Strs Ohio purchased a new position in Cogent Biosciences in the first quarter worth $36,000. CWM LLC grew its position in Cogent Biosciences by 11,869.9% in the first quarter. CWM LLC now owns 8,738 shares of the technology company's stock worth $52,000 after acquiring an additional 8,665 shares in the last quarter. Schonfeld Strategic Advisors LLC purchased a new position in Cogent Biosciences in the fourth quarter worth $78,000. Hsbc Holdings PLC purchased a new position in Cogent Biosciences in the fourth quarter worth $81,000. Finally, KLP Kapitalforvaltning AS purchased a new position in Cogent Biosciences in the fourth quarter worth $88,000.

Cogent Biosciences Trading Up 1.2%

NASDAQ:COGT traded up $0.13 on Tuesday, hitting $10.98. The company's stock had a trading volume of 3,386,326 shares, compared to its average volume of 1,570,620. The stock has a fifty day moving average of $6.54 and a two-hundred day moving average of $6.84. The firm has a market capitalization of $1.25 billion, a P/E ratio of -5.97 and a beta of 1.88. Cogent Biosciences has a one year low of $3.72 and a one year high of $12.61.

Cogent Biosciences (NASDAQ:COGT - Get Free Report) last announced 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. As a group, sell-side analysts anticipate that Cogent Biosciences will post -2.42 EPS for the current 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.