Brokerages Set Cogent Biosciences, Inc. (NASDAQ:COGT) PT at $14.57

Shares of Cogent Biosciences, Inc. (NASDAQ:COGT) have been given a consensus recommendation of “Moderate Buy” by the eight analysts that are currently covering the stock, Marketbeat.com reports. Three research 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 company. The average 1-year price target among analysts that have covered the stock in the last year is $14.57.

Several equities research analysts recently issued reports on the company. Needham & Company LLC reiterated a “hold” rating on shares of Cogent Biosciences in a report on Tuesday. Piper Sandler raised shares of Cogent Biosciences to a “strong-buy” rating in a research report on Friday, March 7th. Wedbush restated a “neutral” rating and set a $11.00 price objective on shares of Cogent Biosciences in a research report on Tuesday, February 25th. Scotiabank initiated coverage on shares of Cogent Biosciences in a report on Friday, March 7th. They issued a “sector outperform” rating and a $17.00 target price on the stock. Finally, HC Wainwright cut their price target on shares of Cogent Biosciences from $14.00 to $12.00 and set a “buy” rating for the company in a report on Tuesday, May 20th.

Cogent Biosciences Stock Performance

Shares of COGT opened at $7.62 on Friday. The business’s 50-day moving average is $5.30 and its two-hundred day moving average is $6.88. The company has a market capitalization of $867.61 million, a P/E ratio of -4.14 and a beta of 1.82. Cogent Biosciences has a fifty-two week low of $3.72 and a fifty-two week high of $12.61.

Cogent Biosciences (NASDAQ:COGT) last posted its earnings results on Tuesday, May 6th. The technology company reported ($0.52) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.56) by $0.04. Analysts forecast that Cogent Biosciences will post -2.42 EPS for the current year.

Institutional Investors Weigh In On Cogent Biosciences

Institutional investors have recently made changes to their positions in the stock. Barclays PLC lifted its holdings in shares of Cogent Biosciences by 124.8% in the 3rd quarter. Barclays PLC now owns 175,684 shares of the technology company’s stock worth $1,897,000 after acquiring an additional 97,541 shares during the last quarter. Janus Henderson Group PLC lifted its stake in Cogent Biosciences by 84.3% during the fourth quarter. Janus Henderson Group PLC now owns 29,073 shares of the technology company’s stock worth $227,000 after purchasing an additional 13,300 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of Cogent Biosciences by 78.6% during the fourth quarter. Ameriprise Financial Inc. now owns 21,499 shares of the technology company’s stock worth $168,000 after buying an additional 9,459 shares during the period. ProShare Advisors LLC boosted its position in shares of Cogent Biosciences by 30.5% during the fourth quarter. ProShare Advisors LLC now owns 31,074 shares of the technology company’s stock worth $242,000 after buying an additional 7,267 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Cogent Biosciences by 15.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 135,604 shares of the technology company’s stock valued at $1,058,000 after buying an additional 17,741 shares in the last quarter.

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.