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

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

Analyst Ratings Changes

COGT has been the subject of several research reports. Wedbush restated a “neutral” rating and issued a $11.00 target price (up from $10.00) on shares of Cogent Biosciences in a research note on Tuesday, September 3rd. JPMorgan Chase & Co. decreased their price objective on Cogent Biosciences from $22.00 to $19.00 and set an “overweight” rating for the company in a report on Wednesday, August 7th. Robert W. Baird increased 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. HC Wainwright reduced their price target 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. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $18.00 price objective on shares of Cogent Biosciences in a research note on Wednesday, August 7th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $14.67.

Cogent Biosciences Trading Up 2.4 %

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

Cogent Biosciences (NASDAQ:COGT) last issued its quarterly earnings results on Tuesday, August 6th. The technology company reported ($0.59) EPS for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.03). During the same quarter in the previous year, the firm earned ($0.59) earnings per share. On average, sell-side analysts expect that Cogent Biosciences, Inc. will post -2.25 EPS for the current fiscal year.

Institutional Trading of Cogent Biosciences

A number of institutional investors have recently added to or reduced their stakes in COGT. Frazier Life Sciences Management L.P. boosted its position in shares of Cogent Biosciences by 32.9% in the fourth quarter. Frazier Life Sciences Management L.P. now owns 1,995,267 shares of the technology company’s stock valued at $11,732,000 after acquiring an additional 493,884 shares during the period. Kynam Capital Management LP increased its holdings in shares of Cogent Biosciences by 164.9% in the fourth quarter. Kynam Capital Management LP now owns 5,854,766 shares of the technology company’s stock worth $34,426,000 after purchasing an additional 3,644,641 shares during the period. Rafferty Asset Management LLC raised its position in shares of Cogent Biosciences by 50.5% in the fourth quarter. Rafferty Asset Management LLC now owns 288,671 shares of the technology company’s stock worth $1,697,000 after buying an additional 96,894 shares in the last quarter. Hennion & Walsh Asset Management Inc. bought a new stake in Cogent Biosciences during the second quarter valued at $1,077,000. Finally, Janus Henderson Group PLC grew its position in Cogent Biosciences by 12,785.8% during the first quarter. Janus Henderson Group PLC now owns 2,099,357 shares of the technology company’s stock worth $14,097,000 after buying an additional 2,083,065 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.