Cogent Biosciences (NASDAQ:COGT) Trading Down 2.3% – Time to Sell?

Cogent Biosciences, Inc. (NASDAQ:COGT) fell 2.3% during mid-day trading on Friday . The company traded as low as $7.08 and last traded at $7.12. 353,748 shares changed hands during trading, a decline of 72% from the average session volume of 1,246,722 shares. The stock had previously closed at $7.29.

Analysts Set New Price Targets

A number of research firms recently commented on COGT. HC Wainwright lowered their price target on shares of Cogent Biosciences from $17.00 to $14.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Wedbush reiterated a “neutral” rating and issued a $11.00 target price on shares of Cogent Biosciences in a research note on Tuesday, February 25th. JPMorgan Chase & Co. upped their price target on shares of Cogent Biosciences from $19.00 to $21.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th. Robert W. Baird reduced their price objective on shares of Cogent Biosciences from $10.00 to $8.00 and set a “neutral” rating for the company in a research note on Thursday, February 27th. Finally, Needham & Company LLC restated a “hold” rating on shares of Cogent Biosciences in a research report on Wednesday, February 26th. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Cogent Biosciences presently has a consensus rating of “Moderate Buy” and an average price target of $14.43.

Cogent Biosciences Trading Down 2.1 %

The stock’s fifty day moving average is $8.07 and its two-hundred day moving average is $9.39. The firm has a market cap of $812.89 million, a P/E ratio of -2.88 and a beta of 1.80.

Institutional Investors Weigh In On Cogent Biosciences

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Schonfeld Strategic Advisors LLC purchased a new position in Cogent Biosciences during the fourth quarter worth about $78,000. Hsbc Holdings PLC bought a new stake in shares of Cogent Biosciences during the 4th quarter valued at about $81,000. KLP Kapitalforvaltning AS purchased a new position in shares of Cogent Biosciences during the fourth quarter worth about $88,000. E Fund Management Co. Ltd. bought a new position in shares of Cogent Biosciences in the fourth quarter worth approximately $89,000. Finally, Proficio Capital Partners LLC purchased a new stake in Cogent Biosciences in the fourth quarter valued at approximately $93,000.

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.