Cogent Biosciences’ (COGT) “Neutral” Rating Reiterated at Wedbush

Wedbush restated their neutral rating on shares of Cogent Biosciences (NASDAQ:COGT) in a research note released on Monday,RTT News reports. Wedbush currently has a $11.00 target price on the technology company’s stock.

Several other research firms also recently weighed in on COGT. Needham & Company LLC downgraded shares of Cogent Biosciences from a “buy” rating to a “hold” rating in a research note on Wednesday, December 11th. HC Wainwright reaffirmed a “buy” rating on shares of Cogent Biosciences in a research report on Wednesday, December 11th. JPMorgan Chase & Co. increased their price target on Cogent Biosciences from $19.00 to $21.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. Finally, Citigroup raised their price target on Cogent Biosciences from $13.00 to $15.00 and gave the company a “buy” rating in a research note on Tuesday, September 24th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $14.33.

Cogent Biosciences Stock Up 10.2 %

Shares of Cogent Biosciences stock opened at $8.12 on Monday. Cogent Biosciences has a 52 week low of $4.28 and a 52 week high of $12.61. The stock’s fifty day moving average is $8.74 and its two-hundred day moving average is $9.69.

Cogent Biosciences (NASDAQ:COGT) last posted its quarterly earnings results on Tuesday, November 12th. The technology company reported ($0.64) EPS for the quarter, missing the consensus estimate of ($0.57) by ($0.07). During the same period in the prior year, the firm earned ($0.64) EPS. As a group, research analysts predict that Cogent Biosciences will post -2.42 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Point72 Asset Management L.P. grew its stake in Cogent Biosciences by 124.5% in the second quarter. Point72 Asset Management L.P. now owns 14,986,398 shares of the technology company’s stock valued at $126,335,000 after purchasing an additional 8,310,150 shares during the last quarter. FMR LLC lifted its position in Cogent Biosciences by 8.1% during the third quarter. FMR LLC now owns 8,319,411 shares of the technology company’s stock valued at $89,850,000 after acquiring an additional 625,743 shares during the last quarter. Deerfield Management Company L.P. Series C boosted its stake in Cogent Biosciences by 144.0% in the second quarter. Deerfield Management Company L.P. Series C now owns 3,744,263 shares of the technology company’s stock valued at $31,564,000 after acquiring an additional 2,209,918 shares in the last quarter. Sofinnova Investments Inc. grew its holdings in Cogent Biosciences by 15.5% in the second quarter. Sofinnova Investments Inc. now owns 2,773,286 shares of the technology company’s stock worth $23,379,000 after purchasing an additional 372,515 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Cogent Biosciences by 15.1% during the third quarter. Geode Capital Management LLC now owns 2,280,793 shares of the technology company’s stock worth $24,638,000 after purchasing an additional 300,062 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.