Cogent Biosciences (NASDAQ:COGT) Stock Price Up 4.1%

Cogent Biosciences, Inc. (NASDAQ:COGT) shares shot up 4.1% on Monday . The company traded as high as $11.07 and last traded at $11.07. 29,115 shares changed hands during mid-day trading, a decline of 98% from the average session volume of 1,499,300 shares. The stock had previously closed at $10.63.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Robert W. Baird boosted their price target on shares of Cogent Biosciences from $8.00 to $10.00 and gave the stock a “neutral” rating in a research note on Thursday, September 5th. HC Wainwright cut their target price on shares of Cogent Biosciences from $19.00 to $17.00 and set a “buy” rating for the company in a research report on Tuesday, September 3rd. Wedbush restated a “neutral” rating and set a $11.00 price target (up previously from $10.00) on shares of Cogent Biosciences in a research report on Tuesday, September 3rd. Needham & Company LLC reissued a “buy” rating and set a $18.00 price objective on shares of Cogent Biosciences in a report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. cut their target price on Cogent Biosciences from $22.00 to $19.00 and set an “overweight” rating for the company in a research note on Wednesday, August 7th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $14.67.

Cogent Biosciences Stock Performance

The firm has a 50-day moving average of $9.62 and a 200-day moving average of $8.20. The firm has a market capitalization of $1.19 billion, a P/E ratio of -4.29 and a beta of 1.70.

Cogent Biosciences (NASDAQ:COGT) last issued its earnings results on Tuesday, August 6th. The technology company reported ($0.59) EPS for the quarter, missing the consensus estimate of ($0.56) by ($0.03). During the same period in the prior year, the firm earned ($0.59) EPS. Equities analysts anticipate that Cogent Biosciences, Inc. will post -2.25 EPS for the current fiscal year.

Hedge Funds Weigh In On Cogent Biosciences

Several hedge funds and other institutional investors have recently modified their holdings of the company. Jump Financial LLC bought a new position in Cogent Biosciences during the 4th quarter valued at approximately $147,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Cogent Biosciences during the fourth quarter valued at approximately $70,000. Trexquant Investment LP lifted its stake in Cogent Biosciences by 88.3% in the fourth quarter. Trexquant Investment LP now owns 77,402 shares of the technology company’s stock worth $455,000 after acquiring an additional 36,294 shares during the period. Capstone Investment Advisors LLC bought a new stake in Cogent Biosciences in the fourth quarter valued at $238,000. Finally, NEOS Investment Management LLC purchased a new position in Cogent Biosciences during the 4th quarter valued at $76,000.

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.