Cogent Biosciences (NASDAQ:COGT) Price Target Raised to $22.00 at HC Wainwright

Cogent Biosciences (NASDAQ:COGT - Free Report) had its target price increased by HC Wainwright from $12.00 to $22.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have a buy rating on the technology company's stock.

Several other analysts have also issued reports on COGT. Needham & Company LLC restated a "hold" rating on shares of Cogent Biosciences in a research note on Tuesday, June 17th. Guggenheim reissued a "buy" rating and issued a $17.00 price objective on shares of Cogent Biosciences in a report on Tuesday. Wedbush restated a "neutral" rating and issued a $10.00 price objective on shares of Cogent Biosciences in a research note on Monday, June 30th. JPMorgan Chase & Co. increased their target price on shares of Cogent Biosciences from $21.00 to $25.00 and gave the stock an "overweight" rating in a research report on Thursday, May 29th. Finally, Leerink Partners boosted their price target on shares of Cogent Biosciences from $16.00 to $18.00 and gave the company an "outperform" rating in a research report on Monday. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $17.60.

Cogent Biosciences Price Performance

Shares of NASDAQ COGT traded up $0.43 during midday trading on Tuesday, reaching $9.78. The company's stock had a trading volume of 6,691,203 shares, compared to its average volume of 1,492,607. Cogent Biosciences has a 12-month low of $3.72 and a 12-month high of $12.61. The firm has a 50 day moving average price of $6.13 and a 200-day moving average price of $6.75.

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. On average, equities analysts anticipate that Cogent Biosciences will post -2.42 EPS for the current year.

Hedge Funds Weigh In On Cogent Biosciences

Large investors have recently made changes to their positions in the stock. Janus Henderson Group PLC boosted 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 worth $227,000 after acquiring an additional 13,300 shares during the period. Ameriprise Financial Inc. increased its holdings in shares of Cogent Biosciences by 78.6% in the fourth quarter. Ameriprise Financial Inc. now owns 21,499 shares of the technology company's stock worth $168,000 after purchasing an additional 9,459 shares during the period. ProShare Advisors LLC increased its holdings in shares of Cogent Biosciences by 30.5% in the fourth quarter. ProShare Advisors LLC now owns 31,074 shares of the technology company's stock worth $242,000 after purchasing an additional 7,267 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Cogent Biosciences by 15.1% in the fourth 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 purchasing an additional 17,741 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Cogent Biosciences by 7.0% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 58,582 shares of the technology company's stock worth $456,000 after purchasing an additional 3,831 shares during the period.

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.