Wedbush Reiterates “Neutral” Rating for Cogent Biosciences (NASDAQ:COGT)

Cogent Biosciences (NASDAQ:COGT)‘s stock had its “neutral” rating reiterated by investment analysts at Wedbush in a research note issued to investors on Tuesday,RTT News reports. They currently have a $11.00 target price on the technology company’s stock. Wedbush’s price objective indicates a potential upside of 5.97% from the company’s previous close.

A number of other equities research analysts have also commented on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Cogent Biosciences from $22.00 to $19.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 7th. Needham & Company LLC reiterated a “buy” rating and set a $16.00 price target on shares of Cogent Biosciences in a report on Thursday, October 24th. Citigroup boosted their price objective on Cogent Biosciences from $13.00 to $15.00 and gave the company a “buy” rating in a research note on Tuesday, September 24th. HC Wainwright reaffirmed a “buy” rating and set a $17.00 target price on shares of Cogent Biosciences in a research note on Monday, November 4th. Finally, Robert W. Baird lifted their target price on Cogent Biosciences from $8.00 to $10.00 and gave the stock a “neutral” rating in a report on Thursday, September 5th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $14.67.

Cogent Biosciences Trading Down 0.2 %

COGT traded down $0.02 during trading on Tuesday, reaching $10.38. 1,156,049 shares of the company’s stock were exchanged, compared to its average volume of 1,422,852. The firm has a fifty day moving average price of $11.09 and a two-hundred day moving average price of $9.49. The stock has a market capitalization of $1.14 billion, a PE ratio of -4.19 and a beta of 1.72. Cogent Biosciences has a one year low of $3.67 and a one year high of $12.61.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of COGT. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Cogent Biosciences by 38.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,959 shares of the technology company’s stock worth $43,000 after purchasing an additional 1,104 shares during the last quarter. SkyView Investment Advisors LLC grew its holdings in Cogent Biosciences by 25.0% during the second quarter. SkyView Investment Advisors LLC now owns 12,500 shares of the technology company’s stock worth $105,000 after buying an additional 2,500 shares in the last quarter. ProShare Advisors LLC raised its position in Cogent Biosciences by 15.3% in the 1st quarter. ProShare Advisors LLC now owns 22,206 shares of the technology company’s stock valued at $149,000 after buying an additional 2,953 shares during the last quarter. Values First Advisors Inc. bought a new position in Cogent Biosciences during the 3rd quarter valued at $32,000. Finally, Creative Planning boosted its holdings in Cogent Biosciences by 29.6% during the 3rd quarter. Creative Planning now owns 14,324 shares of the technology company’s stock worth $155,000 after acquiring an additional 3,272 shares during 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.