Cogent Biosciences’ (COGT) “Hold” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reissued their hold rating on shares of Cogent Biosciences (NASDAQ:COGT) in a research report sent to investors on Wednesday,Benzinga reports.

COGT has been the subject of several other reports. JPMorgan Chase & Co. raised their price objective on shares of Cogent Biosciences from $19.00 to $21.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. Wedbush reissued a “neutral” rating and issued a $11.00 price objective on shares of Cogent Biosciences in a research note on Tuesday. Finally, HC Wainwright decreased their target price on shares of Cogent Biosciences from $17.00 to $14.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $14.00.

Cogent Biosciences Stock Performance

Shares of NASDAQ:COGT opened at $7.53 on Wednesday. Cogent Biosciences has a 52-week low of $5.73 and a 52-week high of $12.61. The company has a market capitalization of $857.29 million, a P/E ratio of -3.04 and a beta of 1.77. The company has a 50-day simple moving average of $8.17 and a 200 day simple moving average of $9.54.

Institutional Investors Weigh In On Cogent Biosciences

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Barclays PLC increased its position in shares of Cogent Biosciences by 124.8% during the third 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 in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Cogent Biosciences by 20.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 825,793 shares of the technology company’s stock worth $8,919,000 after acquiring an additional 139,096 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Cogent Biosciences by 15.1% during the third quarter. Geode Capital Management LLC now owns 2,280,793 shares of the technology company’s stock worth $24,638,000 after acquiring an additional 300,062 shares in the last quarter. Intech Investment Management LLC bought a new stake in shares of Cogent Biosciences during the third quarter worth about $307,000. Finally, JPMorgan Chase & Co. increased its position in shares of Cogent Biosciences by 9.7% during the third quarter. JPMorgan Chase & Co. now owns 64,828 shares of the technology company’s stock worth $700,000 after acquiring an additional 5,720 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.