Cogent Biosciences (NASDAQ:COGT) Given Neutral Rating at Wedbush

Wedbush restated their neutral rating on shares of Cogent Biosciences (NASDAQ:COGT) in a report published on Tuesday morning,RTT News reports. The firm currently has a $11.00 target price on the technology company’s stock.

Several other equities analysts have also commented on COGT. JPMorgan Chase & Co. cut their price target on Cogent Biosciences from $22.00 to $19.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 7th. HC Wainwright reissued a “buy” rating and set a $17.00 target price on shares of Cogent Biosciences in a research report on Monday, November 4th. Robert W. Baird upped their price target on shares of Cogent Biosciences from $8.00 to $10.00 and gave the stock a “neutral” rating in a research report on Thursday, September 5th. Needham & Company LLC reissued a “buy” rating and set a $16.00 price objective on shares of Cogent Biosciences in a report on Thursday, October 24th. Finally, Citigroup boosted their price objective on shares of Cogent Biosciences from $13.00 to $15.00 and gave the stock a “buy” rating in a research note on Tuesday, September 24th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Cogent Biosciences currently has a consensus rating of “Moderate Buy” and a consensus target price of $14.83.

Cogent Biosciences Price Performance

Cogent Biosciences stock opened at $9.65 on Tuesday. The firm has a 50-day moving average of $11.02 and a two-hundred day moving average of $9.53. Cogent Biosciences has a 1 year low of $3.67 and a 1 year high of $12.61.

Cogent Biosciences (NASDAQ:COGT) last announced its quarterly earnings results on Tuesday, November 12th. The technology company reported ($0.64) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.07). During the same quarter in the previous year, the firm posted ($0.64) earnings per share. Equities analysts forecast that Cogent Biosciences will post -2.29 EPS for the current fiscal year.

Hedge Funds Weigh In On Cogent Biosciences

Several institutional investors and hedge funds have recently bought and sold shares of COGT. Verition Fund Management LLC lifted its holdings in shares of Cogent Biosciences by 7.5% during the 3rd quarter. Verition Fund Management LLC now owns 31,228 shares of the technology company’s stock valued at $337,000 after purchasing an additional 2,176 shares during the last quarter. Walleye Capital LLC acquired a new position in Cogent Biosciences during the 3rd quarter valued at about $6,019,000. FMR LLC raised its stake in Cogent Biosciences by 8.1% in the third quarter. FMR LLC now owns 8,319,411 shares of the technology company’s stock valued at $89,850,000 after buying an additional 625,743 shares during the last quarter. Bank of Montreal Can acquired a new stake in Cogent Biosciences in the third quarter worth about $3,135,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of Cogent Biosciences during the third quarter worth about $134,000.

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.