Cogent Biosciences (NASDAQ:COGT) Trading Up 11.5%

Cogent Biosciences, Inc. (NASDAQ:COGT - Get Free Report)'s stock price traded up 11.5% during trading on Monday . The stock traded as high as $6.76 and last traded at $6.71. 479,981 shares changed hands during trading, a decline of 76% from the average session volume of 1,990,698 shares. The stock had previously closed at $6.02.

Wall Street Analysts Forecast Growth

COGT has been the topic of several research analyst reports. Leerink Partnrs reaffirmed an "outperform" rating on shares of Cogent Biosciences in a report on Thursday, February 22nd. Citigroup upped their target price on Cogent Biosciences from $11.00 to $13.00 and gave the stock a "buy" rating in a research note on Monday, February 26th. Robert W. Baird restated a "neutral" rating and issued a $8.00 price objective (down from $14.00) on shares of Cogent Biosciences in a report on Monday, February 26th. JPMorgan Chase & Co. increased their target price on shares of Cogent Biosciences from $18.00 to $20.00 and gave the company an "overweight" rating in a report on Tuesday, February 27th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $18.00 target price on shares of Cogent Biosciences in a research report on Monday, February 26th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $13.67.

Cogent Biosciences Price Performance

The stock has a market cap of $641.56 million, a PE ratio of -2.72 and a beta of 1.50. The business has a 50 day moving average price of $6.88 and a two-hundred day moving average price of $6.71.

Cogent Biosciences (NASDAQ:COGT - Get Free Report) last announced its quarterly earnings results on Monday, February 26th. The technology company reported ($0.63) earnings per share for the quarter, missing the consensus estimate of ($0.55) by ($0.08). On average, sell-side analysts forecast that Cogent Biosciences, Inc. will post -1.89 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cogent Biosciences

Several institutional investors and hedge funds have recently bought and sold shares of COGT. AJOVista LLC purchased a new stake in shares of Cogent Biosciences in the 4th quarter worth about $45,000. China Universal Asset Management Co. Ltd. lifted its holdings in Cogent Biosciences by 355.0% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 9,961 shares of the technology company's stock worth $59,000 after buying an additional 7,772 shares during the period. Fox Run Management L.L.C. bought a new stake in Cogent Biosciences during the 3rd quarter valued at approximately $99,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Cogent Biosciences by 29.4% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,328 shares of the technology company's stock worth $110,000 after acquiring an additional 2,571 shares during the period. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Cogent Biosciences in the 4th quarter worth approximately $70,000.

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.