Cogent Biosciences (NASDAQ:COGT - Free Report) had its price objective upped by Leerink Partners from $16.00 to $18.00 in a research report released on Monday morning,Benzinga reports. Leerink Partners currently has an outperform rating on the technology company's stock.
COGT has been the subject of a number of other reports. Robert W. Baird cut their price objective on Cogent Biosciences from $8.00 to $7.00 and set a "neutral" rating for the company in a research report on Wednesday, May 7th. JPMorgan Chase & Co. raised their price objective on Cogent Biosciences from $21.00 to $25.00 and gave the stock an "overweight" rating in a research report on Thursday, May 29th. HC Wainwright cut their price objective on Cogent Biosciences from $14.00 to $12.00 and set a "buy" rating for the company in a research report on Tuesday, May 20th. Wedbush reissued a "neutral" rating and set a $10.00 price objective on shares of Cogent Biosciences in a research report on Monday, June 30th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Cogent Biosciences in a research report on Tuesday, June 17th. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Cogent Biosciences currently has a consensus rating of "Moderate Buy" and an average price target of $16.33.
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Cogent Biosciences Trading Up 23.4%
Shares of NASDAQ COGT traded up $1.77 during trading on Monday, reaching $9.35. 31,647,423 shares of the company traded hands, compared to its average volume of 1,469,509. The firm's fifty day simple moving average is $6.13 and its 200 day simple moving average is $6.75. The stock has a market cap of $1.06 billion, a P/E ratio of -5.08 and a beta of 1.88. Cogent Biosciences has a 12-month low of $3.72 and a 12-month 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 (EPS) for the quarter, beating analysts' consensus estimates of ($0.56) by $0.04. As a group, research analysts expect that Cogent Biosciences will post -2.42 EPS for the current year.
Institutional Investors Weigh In On Cogent Biosciences
A number of large investors have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. lifted its holdings in Cogent Biosciences by 14.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 988,962 shares of the technology company's stock valued at $5,924,000 after purchasing an additional 124,069 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of Cogent Biosciences by 3.9% during the 1st quarter. Rhumbline Advisers now owns 130,458 shares of the technology company's stock worth $781,000 after acquiring an additional 4,877 shares during the period. Strs Ohio purchased a new position in shares of Cogent Biosciences during the 1st quarter worth about $36,000. Jane Street Group LLC lifted its holdings in shares of Cogent Biosciences by 66.2% during the 1st quarter. Jane Street Group LLC now owns 123,822 shares of the technology company's stock worth $742,000 after acquiring an additional 49,338 shares during the period. Finally, Woodline Partners LP lifted its holdings in shares of Cogent Biosciences by 175.2% during the 1st quarter. Woodline Partners LP now owns 1,687,540 shares of the technology company's stock worth $10,108,000 after acquiring an additional 1,074,375 shares during the period.
Cogent Biosciences Company Profile
(
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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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