Cogent Biosciences (NASDAQ:COGT) Stock Price Expected to Rise, Jefferies Financial Group Analyst Says

Cogent Biosciences (NASDAQ:COGT - Free Report) had its price target boosted by Jefferies Financial Group from $23.00 to $28.00 in a research report sent to investors on Monday,Benzinga reports. They currently have a buy rating on the technology company's stock.

COGT has been the topic of a number of other research reports. Wedbush reiterated a "neutral" rating and set a $10.00 price target on shares of Cogent Biosciences in a report on Monday, June 30th. Needham & Company LLC reiterated a "hold" rating on shares of Cogent Biosciences in a research report on Tuesday, June 17th. HC Wainwright lowered 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. Leerink Partners lifted their price objective on Cogent Biosciences from $16.00 to $18.00 and gave the stock an "outperform" rating in a research note on Monday. Finally, Robert W. Baird decreased their target price on shares of Cogent Biosciences from $8.00 to $7.00 and set a "neutral" rating for the company in a research report on Wednesday, May 7th. Three investment 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's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $18.00.

Cogent Biosciences Price Performance

Shares of NASDAQ COGT traded up $0.45 during midday trading on Monday, reaching $10.85. 6,140,974 shares of the stock were exchanged, compared to its average volume of 1,559,930. Cogent Biosciences has a 12 month low of $3.72 and a 12 month high of $12.61. The company has a market capitalization of $1.24 billion, a price-to-earnings ratio of -5.90 and a beta of 1.88. The business has a 50-day simple moving average of $6.33 and a two-hundred day simple moving average of $6.79.

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

Institutional Investors Weigh In On Cogent Biosciences

Several hedge funds and other institutional investors have recently modified their holdings of COGT. Balyasny Asset Management L.P. grew its holdings in shares of Cogent Biosciences by 8.8% during the fourth quarter. Balyasny Asset Management L.P. now owns 20,805 shares of the technology company's stock valued at $162,000 after buying an additional 1,687 shares during the last quarter. Teacher Retirement System of Texas raised its holdings in shares of Cogent Biosciences by 15.4% in 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 during the last quarter. Arizona State Retirement System lifted its position in shares of Cogent Biosciences by 18.0% during the first quarter. Arizona State Retirement System now owns 20,567 shares of the technology company's stock valued at $123,000 after purchasing an additional 3,142 shares in the last quarter. MetLife Investment Management LLC boosted its holdings in Cogent Biosciences by 6.3% during the fourth quarter. MetLife Investment Management LLC now owns 56,750 shares of the technology company's stock worth $443,000 after purchasing an additional 3,382 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Cogent Biosciences by 6.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 62,275 shares of the technology company's stock worth $377,000 after purchasing an additional 3,693 shares in 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.