Cogent Biosciences, Inc. (NASDAQ:COGT – Get Free Report) saw a significant drop in short interest during the month of September. As of September 15th, there was short interest totalling 9,730,000 shares, a drop of 5.1% from the August 31st total of 10,250,000 shares. Based on an average trading volume of 863,600 shares, the days-to-cover ratio is presently 11.3 days.
Cogent Biosciences Price Performance
Shares of NASDAQ COGT opened at $10.75 on Wednesday. The stock’s 50-day moving average is $10.06 and its two-hundred day moving average is $8.54. Cogent Biosciences has a 1-year low of $3.67 and a 1-year high of $12.14. The company has a market cap of $1.03 billion, a price-to-earnings ratio of -4.33 and a beta of 1.70.
Cogent Biosciences (NASDAQ:COGT – Get Free Report) last issued its earnings results on Tuesday, August 6th. The technology company reported ($0.59) earnings per share for the quarter, missing the consensus estimate of ($0.56) by ($0.03). During the same quarter in the previous year, the business earned ($0.59) EPS. Equities research analysts anticipate that Cogent Biosciences will post -2.25 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
View Our Latest Analysis on Cogent Biosciences
Institutional Trading of Cogent Biosciences
Hedge funds have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. raised its holdings in Cogent Biosciences by 234.5% in the first quarter. Russell Investments Group Ltd. now owns 10,014 shares of the technology company’s stock valued at $67,000 after acquiring an additional 7,020 shares in the last quarter. Quest Partners LLC acquired a new stake in Cogent Biosciences in the second quarter valued at approximately $89,000. SkyView Investment Advisors LLC raised its holdings in Cogent Biosciences by 25.0% in the second quarter. SkyView Investment Advisors LLC now owns 12,500 shares of the technology company’s stock valued at $105,000 after acquiring an additional 2,500 shares in the last quarter. NEOS Investment Management LLC acquired a new stake in Cogent Biosciences in the fourth quarter valued at approximately $76,000. Finally, 49 Wealth Management LLC raised its holdings in Cogent Biosciences by 20.5% during the first quarter. 49 Wealth Management LLC now owns 13,137 shares of the technology company’s stock worth $91,000 after purchasing an additional 2,236 shares in the last quarter.
About Cogent Biosciences
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.
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