Cogent Biosciences (NASDAQ:COGT) Receives Sell (E+) Rating from Weiss Ratings

Key Points

• Weiss Ratings has reaffirmed a "sell (E+)" rating for Cogent Biosciences (NASDAQ:COGT), indicating a negative outlook for the stock.
• A range of analysts have issued varying ratings for Cogent Biosciences, with price targets ranging from $9.00 to $30.00 and an overall consensus target price of $20.83.
• Cogent Biosciences shares rose by 2.0% to $15.13, with a market capitalization of $1.72 billion and a reported earnings per share of ($0.53), which surpassed consensus estimates.

Cogent Biosciences (NASDAQ:COGT - Get Free Report)'s stock had its "sell (e+)" rating reaffirmed by Weiss Ratings in a note issued to investors on Friday,Weiss Ratings reports.

COGT has been the topic of a number of other research reports. Leerink Partners upped their price target on Cogent Biosciences from $16.00 to $18.00 and gave the stock an "outperform" rating in a report on Monday, July 7th. Robert W. Baird upped their target price on Cogent Biosciences from $7.00 to $9.00 and gave the company a "neutral" rating in a report on Tuesday, July 8th. Citigroup upped their target price on Cogent Biosciences from $15.00 to $22.00 and gave the company a "buy" rating in a report on Friday, July 18th. Wedbush reissued a "neutral" rating and issued a $10.00 target price on shares of Cogent Biosciences in a report on Monday, June 30th. Finally, Raymond James Financial assumed coverage on shares of Cogent Biosciences in a research note on Tuesday, September 2nd. They issued a "strong-buy" rating and a $30.00 price objective on the stock. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $20.83.

Cogent Biosciences Trading Up 2.0%

Shares of NASDAQ:COGT traded up $0.29 on Friday, reaching $15.13. 2,050,828 shares of the company were exchanged, compared to its average volume of 2,357,204. The company has a 50-day moving average of $13.71 and a 200-day moving average of $9.64. Cogent Biosciences has a 1-year low of $3.72 and a 1-year high of $17.15. The firm has a market cap of $1.72 billion, a price-to-earnings ratio of -8.50 and a beta of 0.30.

Cogent Biosciences (NASDAQ:COGT - Get Free Report) last issued its earnings results on Tuesday, August 5th. The technology company reported ($0.53) earnings per share for the quarter, topping the consensus estimate of ($0.55) by $0.02. As a group, analysts forecast that Cogent Biosciences will post -2.42 earnings per share for the current year.

Institutional Trading of Cogent Biosciences

A number of large investors have recently made changes to their positions in COGT. SG Americas Securities LLC acquired a new stake in shares of Cogent Biosciences during the 3rd quarter worth about $372,000. CWM LLC boosted its position in Cogent Biosciences by 25.3% during the third quarter. CWM LLC now owns 5,582 shares of the technology company's stock worth $80,000 after acquiring an additional 1,126 shares during the last quarter. Voya Investment Management LLC boosted its position in Cogent Biosciences by 110.0% during the third quarter. Voya Investment Management LLC now owns 61,623 shares of the technology company's stock worth $885,000 after acquiring an additional 32,279 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in Cogent Biosciences by 193.4% during the third quarter. Assenagon Asset Management S.A. now owns 577,004 shares of the technology company's stock worth $8,286,000 after acquiring an additional 380,345 shares during the last quarter. Finally, Osaic Holdings Inc. boosted its position in Cogent Biosciences by 41.4% during the second quarter. Osaic Holdings Inc. now owns 4,550 shares of the technology company's stock worth $33,000 after acquiring an additional 1,333 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.

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