Cogent Biosciences (NASDAQ:COGT) Price Target Raised to $25.00 at JPMorgan Chase & Co.

Cogent Biosciences (NASDAQ:COGT - Get Free Report) had its price objective boosted by JPMorgan Chase & Co. from $21.00 to $25.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has an "overweight" rating on the technology company's stock. JPMorgan Chase & Co.'s price target suggests a potential upside of 345.32% from the stock's previous close.

Other equities research analysts have also issued research reports about the stock. Needham & Company LLC reissued a "hold" rating on shares of Cogent Biosciences in a research report on Wednesday, February 26th. Robert W. Baird cut their price objective on Cogent Biosciences from $8.00 to $7.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 7th. Wedbush reaffirmed a "neutral" rating and issued a $11.00 target price on shares of Cogent Biosciences in a research report on Tuesday, February 25th. HC Wainwright dropped their target price on Cogent Biosciences from $14.00 to $12.00 and set a "buy" rating on the stock in a report on Tuesday, May 20th. Finally, Piper Sandler raised Cogent Biosciences to a "strong-buy" rating in a research report on Friday, March 7th. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $14.57.

Cogent Biosciences Stock Performance

Cogent Biosciences stock traded up $0.17 during midday trading on Thursday, reaching $5.61. The stock had a trading volume of 3,126,520 shares, compared to its average volume of 1,280,868. The stock's 50-day simple moving average is $4.97 and its 200 day simple moving average is $7.08. Cogent Biosciences has a twelve month low of $3.72 and a twelve month high of $12.61. The stock has a market capitalization of $639.19 million, a PE ratio of -2.26 and a beta of 1.91.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. FMR LLC increased its holdings in Cogent Biosciences by 99.2% during the 4th quarter. FMR LLC now owns 16,569,256 shares of the technology company's stock worth $129,240,000 after purchasing an additional 8,249,845 shares during the last quarter. Paradigm Biocapital Advisors LP grew its position in shares of Cogent Biosciences by 82.3% during the first quarter. Paradigm Biocapital Advisors LP now owns 8,963,655 shares of the technology company's stock worth $53,692,000 after buying an additional 4,046,243 shares in the last quarter. Vanguard Group Inc. increased its stake 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 worth $47,840,000 after buying an additional 418,975 shares during the last quarter. Adage Capital Partners GP L.L.C. raised its holdings in 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 acquiring an additional 233,966 shares in the last quarter. Finally, Vestal Point Capital LP acquired a new position in Cogent Biosciences during the 1st quarter worth $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.