HC Wainwright Cuts Cogent Biosciences (NASDAQ:COGT) Price Target to $21.00

Key Points

• HC Wainwright has decreased its target price for Cogent Biosciences stock from $22.00 to $21.00, while maintaining a "buy" rating, indicating a potential upside of 84.86% from the previous close.
• Cogent Biosciences has received mixed ratings from analysts, with three holding a "hold" rating and seven issuing a "buy" rating, leading to an average rating of "Moderate Buy" and a consensus target price of $18.60.
• Insider activity includes a significant purchase by Director Fairmount Funds Management, who bought 2,777,777 shares at an average price of $9.00 per share, increasing their stake in the company by 44.62%.

Cogent Biosciences (NASDAQ:COGT - Get Free Report) had its target price cut by HC Wainwright from $22.00 to $21.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the technology company's stock. HC Wainwright's target price indicates a potential upside of 91.61% from the company's current price. HC Wainwright also issued estimates for Cogent Biosciences' Q3 2025 earnings at ($0.59) EPS, Q4 2025 earnings at ($0.53) EPS, Q1 2026 earnings at ($0.59) EPS, Q2 2026 earnings at ($0.64) EPS, Q3 2026 earnings at ($0.52) EPS, Q4 2026 earnings at ($0.40) EPS and FY2026 earnings at ($2.15) EPS.

Several other research analysts have also commented on COGT. Wedbush reaffirmed a "neutral" rating and set a $10.00 price objective on shares of Cogent Biosciences in a research note on Monday, June 30th. Jefferies Financial Group increased their price objective on shares of Cogent Biosciences from $23.00 to $28.00 and gave the stock a "buy" rating in a research report on Monday, July 7th. Leerink Partners raised their price objective 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. Guggenheim reaffirmed a "buy" rating and set a $17.00 target price on shares of Cogent Biosciences in a research note on Tuesday, July 8th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Cogent Biosciences in a research note on Tuesday, June 17th. Three equities 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 company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $18.70.

Cogent Biosciences Stock Performance

Shares of NASDAQ:COGT traded up $0.10 on Wednesday, reaching $10.96. The company's stock had a trading volume of 1,331,775 shares, compared to its average volume of 2,409,835. The company has a 50-day simple moving average of $9.24 and a 200 day simple moving average of $7.37. Cogent Biosciences has a 52-week low of $3.72 and a 52-week high of $12.97. The company has a market cap of $1.25 billion, a P/E ratio of -6.16 and a beta of 0.36.

Cogent Biosciences (NASDAQ:COGT - Get Free Report) last announced its earnings results on Tuesday, August 5th. The technology company reported ($0.53) EPS for the quarter, topping analysts' consensus estimates of ($0.55) by $0.02. On average, equities research analysts forecast that Cogent Biosciences will post -2.42 EPS for the current fiscal year.

Insider Buying and Selling at Cogent Biosciences

In other Cogent Biosciences news, Director Fairmount Funds Management Llc bought 2,777,777 shares of the company's stock in a transaction on Thursday, July 10th. The shares were bought at an average cost of $9.00 per share, for a total transaction of $24,999,993.00. Following the acquisition, the director directly owned 9,003,418 shares in the company, valued at approximately $81,030,762. The trade was a 44.62% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 7.29% of the stock is owned by insiders.

Institutional Investors Weigh In On Cogent Biosciences

Several hedge funds have recently modified their holdings of the business. FMR LLC grew its position in shares of Cogent Biosciences by 99.2% in the 4th quarter. FMR LLC now owns 16,569,256 shares of the technology company's stock worth $129,240,000 after buying an additional 8,249,845 shares during the last quarter. Paradigm Biocapital Advisors LP grew its holdings in 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 worth $53,692,000 after purchasing an additional 4,046,243 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Cogent Biosciences by 7.3% during the fourth quarter. Vanguard Group Inc. now owns 6,133,380 shares of the technology company's stock worth $47,840,000 after purchasing an additional 418,975 shares in the last quarter. Adage Capital Partners GP L.L.C. increased its position in shares of Cogent Biosciences by 5.8% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 4,300,000 shares of the technology company's stock worth $33,540,000 after purchasing an additional 233,966 shares in the last quarter. Finally, Vestal Point Capital LP purchased a new stake in shares of Cogent Biosciences during the 1st quarter valued at $17,970,000.

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.