Cogent Biosciences’ (COGT) Neutral Rating Reaffirmed at Wedbush

Cogent Biosciences (NASDAQ:COGT)‘s stock had its “neutral” rating reaffirmed by stock analysts at Wedbush in a report issued on Tuesday,RTT News reports. They currently have a $11.00 price target on the technology company’s stock. Wedbush’s price target would suggest a potential upside of 55.63% from the company’s current price.

COGT has been the subject of a number of other reports. Needham & Company LLC downgraded Cogent Biosciences from a “buy” rating to a “hold” rating in a research note on Wednesday, December 11th. HC Wainwright cut their price objective on shares of Cogent Biosciences from $17.00 to $14.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Finally, JPMorgan Chase & Co. boosted their target price 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. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, Cogent Biosciences currently has an average rating of “Moderate Buy” and an average target price of $14.33.

Cogent Biosciences Price Performance

COGT traded down $0.39 on Tuesday, reaching $7.07. 1,390,632 shares of the company traded hands, compared to its average volume of 1,403,371. Cogent Biosciences has a 52-week low of $5.73 and a 52-week high of $12.61. The company has a market cap of $780.75 million, a price-to-earnings ratio of -2.84 and a beta of 1.77. The stock’s 50 day moving average price is $8.23 and its 200-day moving average price is $9.59.

Cogent Biosciences (NASDAQ:COGT) last posted its quarterly earnings results on Monday, February 24th. The technology company reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.59) by $0.50. As a group, equities research analysts forecast that Cogent Biosciences will post -2.42 earnings per share for the current fiscal year.

Institutional Trading of Cogent Biosciences

Hedge funds have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Cogent Biosciences by 38.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,959 shares of the technology company’s stock worth $43,000 after buying an additional 1,104 shares during the last quarter. Schonfeld Strategic Advisors LLC bought a new position in Cogent Biosciences during the fourth quarter worth $78,000. Hsbc Holdings PLC acquired a new position in Cogent Biosciences during the 4th quarter valued at $81,000. KLP Kapitalforvaltning AS bought a new stake in Cogent Biosciences in the 4th quarter valued at $88,000. Finally, E Fund Management Co. Ltd. acquired a new stake in Cogent Biosciences in the 4th quarter worth $89,000.

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.