Cogent Biosciences (NASDAQ:COGT) Earns Neutral Rating from Wedbush

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

Other analysts also recently issued research reports about the stock. HC Wainwright restated a “buy” rating and set a $17.00 price objective on shares of Cogent Biosciences in a report on Monday, November 4th. Needham & Company LLC restated a “buy” rating and set a $16.00 price target on shares of Cogent Biosciences in a research note on Thursday, October 24th. Citigroup increased their price objective on Cogent Biosciences from $13.00 to $15.00 and gave the company a “buy” rating in a report on Tuesday, September 24th. JPMorgan Chase & Co. lowered their price objective on Cogent Biosciences from $22.00 to $19.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 7th. Finally, Robert W. Baird raised their price target on Cogent Biosciences from $8.00 to $10.00 and gave the stock a “neutral” rating in a report on Thursday, September 5th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $14.67.

Cogent Biosciences Stock Performance

NASDAQ:COGT traded down $0.02 during trading on Tuesday, reaching $10.38. The company’s stock had a trading volume of 1,156,049 shares, compared to its average volume of 1,422,852. The firm has a market cap of $1.14 billion, a price-to-earnings ratio of -4.19 and a beta of 1.72. Cogent Biosciences has a 12 month low of $3.67 and a 12 month high of $12.61. The firm has a 50 day moving average of $11.09 and a 200-day moving average of $9.49.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Values First Advisors Inc. bought a new position in Cogent Biosciences in the 3rd quarter worth $32,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in 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 buying an additional 1,104 shares during the period. Russell Investments Group Ltd. boosted its position in Cogent Biosciences by 234.5% during the 1st 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. nVerses Capital LLC purchased a new position in shares of Cogent Biosciences during the 3rd quarter worth approximately $76,000. Finally, Quest Partners LLC bought a new position in shares of Cogent Biosciences in the 2nd quarter worth approximately $89,000.

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.