Robert W. Baird Boosts Cogent Biosciences (NASDAQ:COGT) Price Target to $9.00

Cogent Biosciences (NASDAQ:COGT - Get Free Report) had its target price hoisted by analysts at Robert W. Baird from $7.00 to $9.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a "neutral" rating on the technology company's stock. Robert W. Baird's target price would indicate a potential downside of 18.03% from the company's current price.

COGT has been the subject of several other reports. Needham & Company LLC reiterated a "hold" rating on shares of Cogent Biosciences in a research report on Tuesday, June 17th. HC Wainwright reduced 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. Jefferies Financial Group boosted their target price on Cogent Biosciences from $23.00 to $28.00 and gave the stock a "buy" rating in a report on Monday. Leerink Partners boosted their target price on Cogent Biosciences from $16.00 to $18.00 and gave the stock an "outperform" rating in a report on Monday. Finally, JPMorgan Chase & Co. boosted their target price on Cogent Biosciences from $21.00 to $25.00 and gave the stock an "overweight" rating in a report on Thursday, May 29th. Three equities research 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's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $18.00.

Cogent Biosciences Price Performance

Shares of NASDAQ COGT traded up $0.13 during midday trading on Tuesday, hitting $10.98. 3,386,326 shares of the company's stock were exchanged, compared to its average volume of 1,570,620. The stock's 50 day moving average price is $6.54 and its 200-day moving average price is $6.84. The firm has a market cap of $1.25 billion, a P/E ratio of -5.97 and a beta of 1.88. Cogent Biosciences has a twelve month low of $3.72 and a twelve month high of $12.61.

Cogent Biosciences (NASDAQ:COGT - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The technology company reported ($0.52) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.56) by $0.04. On average, analysts expect that Cogent Biosciences will post -2.42 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. FMR LLC increased its holdings in shares of Cogent Biosciences by 99.2% in the fourth quarter. FMR LLC now owns 16,569,256 shares of the technology company's stock valued at $129,240,000 after buying an additional 8,249,845 shares in the last quarter. Paradigm Biocapital Advisors LP increased its holdings in shares of Cogent Biosciences by 82.3% in the first quarter. Paradigm Biocapital Advisors LP now owns 8,963,655 shares of the technology company's stock valued at $53,692,000 after buying an additional 4,046,243 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Cogent Biosciences by 7.3% in the fourth quarter. Vanguard Group Inc. now owns 6,133,380 shares of the technology company's stock valued at $47,840,000 after buying an additional 418,975 shares in the last quarter. Adage Capital Partners GP L.L.C. increased its holdings in shares of Cogent Biosciences by 5.8% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 4,300,000 shares of the technology company's stock valued at $33,540,000 after buying an additional 233,966 shares in the last quarter. Finally, Vestal Point Capital LP bought a new position in shares of Cogent Biosciences in the first quarter valued at $17,970,000.

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.