Cogent Biosciences’ (COGT) Hold Rating Reiterated at Needham & Company LLC

Needham & Company LLC reissued their hold rating on shares of Cogent Biosciences (NASDAQ:COGT) in a research report released on Tuesday,Benzinga reports.

COGT has been the topic of a number of other research reports. Robert W. Baird lowered their price objective on Cogent Biosciences from $8.00 to $7.00 and set a “neutral” rating on the stock in a report on Wednesday, May 7th. HC Wainwright lowered their target price on Cogent Biosciences from $14.00 to $12.00 and set a “buy” rating on the stock in a report on Tuesday, May 20th. Piper Sandler raised Cogent Biosciences to a “strong-buy” rating in a report on Friday, March 7th. Wedbush reaffirmed a “neutral” rating and issued a $11.00 target price on shares of Cogent Biosciences in a report on Tuesday, February 25th. Finally, JPMorgan Chase & Co. raised their target price on Cogent Biosciences from $21.00 to $25.00 and gave the company an “overweight” rating in a report on Thursday, May 29th. Three investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Cogent Biosciences currently has a consensus rating of “Moderate Buy” and a consensus price target of $14.57.

Cogent Biosciences Stock Performance

Shares of NASDAQ COGT opened at $7.24 on Tuesday. The firm has a market cap of $824.35 million, a price-to-earnings ratio of -3.93 and a beta of 1.82. The business’s 50-day simple moving average is $5.42 and its 200-day simple moving average is $6.87. Cogent Biosciences has a 52 week low of $3.72 and a 52 week high of $12.61.

Cogent Biosciences (NASDAQ:COGT) last issued its quarterly earnings data on Tuesday, May 6th. The technology company reported ($0.52) EPS for the quarter, beating analysts’ consensus estimates of ($0.56) by $0.04. As a group, equities research analysts forecast that Cogent Biosciences will post -2.42 earnings per share for the current year.

Institutional Trading of Cogent Biosciences

A number of hedge funds have recently modified their holdings of COGT. Strs Ohio bought a new stake in shares of Cogent Biosciences in the 1st quarter worth approximately $36,000. CWM LLC lifted its position in shares of Cogent Biosciences by 11,869.9% in the 1st quarter. CWM LLC now owns 8,738 shares of the technology company’s stock worth $52,000 after acquiring an additional 8,665 shares during the period. Schonfeld Strategic Advisors LLC bought a new stake in shares of Cogent Biosciences in the 4th quarter worth approximately $78,000. Hsbc Holdings PLC bought a new stake in shares of Cogent Biosciences in the 4th quarter worth approximately $81,000. Finally, KLP Kapitalforvaltning AS bought a new stake in shares of Cogent Biosciences in the 4th quarter worth approximately $88,000.

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.