Cogent Biosciences (NASDAQ:COGT) Price Target Raised to $15.00

Cogent Biosciences (NASDAQ:COGT) had its price target boosted by Citigroup from $13.00 to $15.00 in a report issued on Tuesday, Benzinga reports. Citigroup currently has a buy rating on the technology company’s stock.

A number of other research analysts also recently issued reports on the company. JPMorgan Chase & Co. decreased their price target on Cogent Biosciences from $22.00 to $19.00 and set an overweight rating for the company in a report on Wednesday, August 7th. Needham & Company LLC reissued a buy rating and set a $18.00 price target on shares of Cogent Biosciences in a report on Wednesday, August 7th. Wedbush reaffirmed a neutral rating and issued a $11.00 price objective (up previously from $10.00) on shares of Cogent Biosciences in a report on Tuesday, September 3rd. HC Wainwright lowered their target price on shares of Cogent Biosciences from $19.00 to $17.00 and set a buy rating on the stock in a research note on Tuesday, September 3rd. Finally, Robert W. Baird raised their target price on Cogent Biosciences from $8.00 to $10.00 and gave the company a neutral rating in a research report on Thursday, September 5th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $15.00.

Cogent Biosciences Price Performance

NASDAQ:COGT opened at $10.90 on Tuesday. The company’s fifty day moving average price is $9.94 and its 200-day moving average price is $8.42. Cogent Biosciences has a 1-year low of $3.67 and a 1-year high of $12.14. The firm has a market capitalization of $1.04 billion, a P/E ratio of -4.40 and a beta of 1.70.

Cogent Biosciences (NASDAQ:COGT) last announced its quarterly earnings results on Tuesday, August 6th. The technology company reported ($0.59) earnings per share for the quarter, missing the consensus estimate of ($0.56) by ($0.03). During the same period in the prior year, the business earned ($0.59) earnings per share. Equities analysts anticipate that Cogent Biosciences will post -2.25 EPS for the current fiscal year.

Hedge Funds Weigh In On Cogent Biosciences

Large investors have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. increased its stake in shares of Cogent Biosciences by 234.5% during the first quarter. Russell Investments Group Ltd. now owns 10,014 shares of the technology company’s stock worth $67,000 after purchasing an additional 7,020 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Cogent Biosciences during the 4th quarter worth approximately $70,000. NEOS Investment Management LLC acquired a new position in shares of Cogent Biosciences during the fourth quarter valued at approximately $76,000. Quest Partners LLC purchased a new position in shares of Cogent Biosciences in the second quarter valued at approximately $89,000. Finally, 49 Wealth Management LLC boosted its stake in shares of Cogent Biosciences by 20.5% in the first quarter. 49 Wealth Management LLC now owns 13,137 shares of the technology company’s stock worth $91,000 after acquiring an additional 2,236 shares during 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.