Cogent Biosciences (NASDAQ:COGT) Receives “Neutral” Rating from Wedbush

Wedbush reissued their neutral rating on shares of Cogent Biosciences (NASDAQ:COGT) in a research note published on Tuesday,RTT News reports. They currently have a $11.00 price objective on the technology company’s stock. Wedbush also issued estimates for Cogent Biosciences’ Q1 2025 earnings at ($0.44) EPS, Q2 2025 earnings at ($0.39) EPS, Q3 2025 earnings at ($0.38) EPS, Q4 2025 earnings at ($0.37) EPS, FY2025 earnings at ($1.58) EPS, FY2026 earnings at ($1.32) EPS and FY2027 earnings at ($1.00) EPS.

Several other brokerages also recently commented on COGT. HC Wainwright lowered their price target on Cogent Biosciences from $17.00 to $14.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Needham & Company LLC lowered shares of Cogent Biosciences from a “buy” rating to a “hold” rating in a research note on Wednesday, December 11th. Finally, 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 report on Thursday, November 14th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Cogent Biosciences has an average rating of “Moderate Buy” and a consensus target price of $14.00.

Cogent Biosciences Price Performance

NASDAQ COGT opened at $6.99 on Tuesday. Cogent Biosciences has a fifty-two week low of $5.73 and a fifty-two week high of $12.61. The stock’s 50-day moving average is $8.17 and its two-hundred day moving average is $9.54. The firm has a market cap of $772.13 million, a P/E ratio of -2.82 and a beta of 1.77.

Institutional Investors Weigh In On Cogent Biosciences

Several hedge funds have recently made changes to their positions in the stock. FMR LLC increased its stake in Cogent Biosciences by 99.2% during the fourth quarter. FMR LLC now owns 16,569,256 shares of the technology company’s stock valued at $129,240,000 after acquiring an additional 8,249,845 shares during the period. Octagon Capital Advisors LP increased its position in shares of Cogent Biosciences by 111.7% during the fourth quarter. Octagon Capital Advisors LP now owns 2,763,000 shares of the technology company’s stock valued at $21,551,000 after purchasing an additional 1,458,000 shares during the period. SG Americas Securities LLC raised its stake in shares of Cogent Biosciences by 2,865.3% in the fourth quarter. SG Americas Securities LLC now owns 964,712 shares of the technology company’s stock valued at $7,525,000 after purchasing an additional 932,179 shares in the last quarter. Walleye Capital LLC bought a new position in Cogent Biosciences in the third quarter worth $6,019,000. Finally, Springhill Fund Asset Management HK Co Ltd acquired a new stake in Cogent Biosciences during the fourth quarter worth $4,279,000.

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.