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Cogent Biosciences (NASDAQ:COGT) Price Target Raised to $29.00

Cogent Biosciences logo with Medical background

Cogent Biosciences (NASDAQ:COGT - Get Free Report) had its target price hoisted by stock analysts at JPMorgan Chase & Co. from $25.00 to $29.00 in a research note issued on Thursday,Benzinga reports. The firm presently has an "overweight" rating on the technology company's stock. JPMorgan Chase & Co.'s price objective would suggest a potential upside of 164.12% from the stock's previous close.

Several other brokerages have also issued reports on COGT. Wedbush reissued a "neutral" rating and set a $10.00 target price on shares of Cogent Biosciences in a research note on Monday, June 30th. Jefferies Financial Group increased their target price on shares of Cogent Biosciences from $23.00 to $28.00 and gave the stock a "buy" rating in a research note on Monday, July 7th. HC Wainwright increased their target price on shares of Cogent Biosciences from $12.00 to $22.00 and gave the stock a "buy" rating in a research note on Tuesday, July 8th. Leerink Partners increased their target price on shares of Cogent Biosciences from $16.00 to $18.00 and gave the stock an "outperform" rating in a research note on Monday, July 7th. Finally, Guggenheim reissued a "buy" rating and set a $17.00 target price on shares of Cogent Biosciences in a research note on Tuesday, July 8th. Three research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $18.00.

Get Our Latest Analysis on COGT

Cogent Biosciences Price Performance

Shares of COGT traded up $0.13 during trading hours on Thursday, hitting $10.98. 3,386,326 shares of the stock were exchanged, compared to its average volume of 1,574,713. Cogent Biosciences has a fifty-two week low of $3.72 and a fifty-two week high of $12.61. The business has a 50-day moving average of $6.54 and a 200-day moving average of $6.83. 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 (NASDAQ:COGT - Get Free Report) last posted its quarterly earnings data 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, analysts forecast that Cogent Biosciences will post -2.42 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in COGT. Proficio Capital Partners LLC bought a new position in shares of Cogent Biosciences in the fourth quarter valued at $93,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Cogent Biosciences by 0.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 833,155 shares of the technology company's stock valued at $6,499,000 after buying an additional 7,362 shares in the last quarter. Intech Investment Management LLC lifted its position in shares of Cogent Biosciences by 99.3% during the fourth quarter. Intech Investment Management LLC now owns 56,657 shares of the technology company's stock valued at $442,000 after purchasing an additional 28,233 shares in the last quarter. Teacher Retirement System of Texas lifted its position in shares of Cogent Biosciences by 15.4% during the fourth quarter. Teacher Retirement System of Texas now owns 17,983 shares of the technology company's stock valued at $140,000 after purchasing an additional 2,396 shares in the last quarter. Finally, Quantbot Technologies LP bought a new position in shares of Cogent Biosciences during the fourth quarter valued at about $169,000.

Cogent Biosciences Company Profile

(Get Free Report)

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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