Cogent Biosciences, Inc. (NASDAQ:COGT - Get Free Report)'s stock price dropped 8.3% during trading on Thursday . The company traded as low as $5.95 and last traded at $6.00. Approximately 369,652 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 2,013,972 shares. The stock had previously closed at $6.54.
Analysts Set New Price Targets
COGT has been the subject of a number of recent analyst reports. Robert W. Baird restated a "neutral" rating and issued a $8.00 price objective (down previously from $14.00) on shares of Cogent Biosciences in a research report on Monday, February 26th. Needham & Company LLC reiterated a "buy" rating and set a $18.00 price target on shares of Cogent Biosciences in a research report on Monday, February 26th. JPMorgan Chase & Co. lifted their price target on shares of Cogent Biosciences from $18.00 to $20.00 and gave the company an "overweight" rating in a research report on Tuesday, February 27th. Wedbush lifted their price target on shares of Cogent Biosciences from $5.00 to $10.00 and gave the company a "neutral" rating in a research report on Friday, February 23rd. Finally, Citigroup lifted their price objective on Cogent Biosciences from $11.00 to $13.00 and gave the stock a "buy" rating in a research report on Monday, February 26th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $13.67.
Read Our Latest Research Report on Cogent Biosciences
Cogent Biosciences Trading Down 8.1 %
The stock has a market capitalization of $574.62 million, a PE ratio of -2.50 and a beta of 1.50. The company's 50 day simple moving average is $6.94 and its 200 day simple moving average is $6.78.
Cogent Biosciences (NASDAQ:COGT - Get Free Report) last released its earnings results on Monday, February 26th. The technology company reported ($0.63) EPS for the quarter, missing the consensus estimate of ($0.55) by ($0.08). As a group, analysts predict that Cogent Biosciences, Inc. will post -1.89 EPS for the current year.
Institutional Trading of Cogent Biosciences
Several institutional investors have recently made changes to their positions in COGT. FMR LLC grew its stake in shares of Cogent Biosciences by 1,322.5% during the 3rd quarter. FMR LLC now owns 4,569,781 shares of the technology company's stock valued at $44,555,000 after buying an additional 4,248,521 shares during the period. Kynam Capital Management LP lifted its holdings in Cogent Biosciences by 164.9% in the 4th quarter. Kynam Capital Management LP now owns 5,854,766 shares of the technology company's stock worth $34,426,000 after buying an additional 3,644,641 shares in the last quarter. Frazier Life Sciences Management L.P. lifted its holdings in Cogent Biosciences by 32.9% in the 4th quarter. Frazier Life Sciences Management L.P. now owns 1,995,267 shares of the technology company's stock worth $11,732,000 after buying an additional 493,884 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Cogent Biosciences by 204.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 592,492 shares of the technology company's stock valued at $5,777,000 after purchasing an additional 397,765 shares in the last quarter. Finally, SG Americas Securities LLC raised its stake in shares of Cogent Biosciences by 203.1% in the 4th quarter. SG Americas Securities LLC now owns 317,409 shares of the technology company's stock valued at $1,866,000 after purchasing an additional 212,687 shares in the last quarter.
About Cogent Biosciences
(
Get Free Report)
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.
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