Cogent Biosciences (NASDAQ:COGT) Releases Quarterly Earnings Results

Cogent Biosciences (NASDAQ:COGT) issued its quarterly earnings results on Tuesday. The technology company reported ($0.64) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.07), Briefing.com reports. During the same quarter in the previous year, the company posted ($0.64) earnings per share.

Cogent Biosciences Trading Down 4.2 %

COGT traded down $0.44 during trading on Thursday, reaching $9.96. The stock had a trading volume of 147,424 shares, compared to its average volume of 1,422,477. The company has a market capitalization of $1.09 billion, a price-to-earnings ratio of -4.19 and a beta of 1.72. The stock’s 50 day moving average is $11.06 and its two-hundred day moving average is $9.53. Cogent Biosciences has a one year low of $3.67 and a one year high of $12.61.

Wall Street Analyst Weigh In

A number of equities analysts have commented on COGT shares. HC Wainwright reissued a “buy” rating and issued a $17.00 price target on shares of Cogent Biosciences in a research note on Monday, November 4th. Citigroup lifted their price target on Cogent Biosciences from $13.00 to $15.00 and gave the stock a “buy” rating in a research note on Tuesday, September 24th. Wedbush reaffirmed a “neutral” rating and set a $11.00 price objective on shares of Cogent Biosciences in a research note on Tuesday. JPMorgan Chase & Co. cut their target price 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, Needham & Company LLC lowered their price target on Cogent Biosciences from $16.00 to $15.00 and set a “buy” rating for the company in a research report on Wednesday. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $14.50.

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.