Cogent Biosciences (NASDAQ:COGT) Stock Price Down 2.5% – Should You Sell?

Shares of Cogent Biosciences, Inc. (NASDAQ:COGT) fell 2.5% during mid-day trading on Tuesday . The company traded as low as $7.48 and last traded at $7.52. 41,237 shares were traded during mid-day trading, a decline of 97% from the average session volume of 1,447,758 shares. The stock had previously closed at $7.71.

Analyst Ratings Changes

COGT has been the topic of several recent research reports. Citigroup lifted their target price on shares of Cogent Biosciences from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Tuesday, September 24th. Wedbush reaffirmed a “neutral” rating and set a $11.00 price objective on shares of Cogent Biosciences in a report on Tuesday, November 12th. HC Wainwright reissued a “buy” rating on shares of Cogent Biosciences in a report on Wednesday, December 11th. JPMorgan Chase & Co. boosted their price target on Cogent Biosciences from $19.00 to $21.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th. Finally, Robert W. Baird increased their price objective on Cogent Biosciences from $8.00 to $10.00 and gave the stock a “neutral” rating in a research note on Thursday, September 5th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Cogent Biosciences currently has an average rating of “Moderate Buy” and a consensus target price of $14.83.

Cogent Biosciences Stock Performance

The stock has a market cap of $861.60 million, a price-to-earnings ratio of -3.15 and a beta of 1.71. The firm’s 50-day simple moving average is $9.51 and its two-hundred day simple moving average is $9.74.

Cogent Biosciences (NASDAQ:COGT) last announced its quarterly earnings data on Tuesday, November 12th. The technology company reported ($0.64) EPS for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.07). During the same quarter in the previous year, the company posted ($0.64) earnings per share. Equities research analysts expect that Cogent Biosciences, Inc. will post -2.42 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Values First Advisors Inc. acquired a new position in Cogent Biosciences in the third quarter valued at about $32,000. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Cogent Biosciences by 38.7% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,959 shares of the technology company’s stock valued at $43,000 after buying an additional 1,104 shares in the last quarter. nVerses Capital LLC acquired a new stake in Cogent Biosciences during the 3rd quarter worth $76,000. Quest Partners LLC bought a new position in Cogent Biosciences during the second quarter worth about $89,000. Finally, SkyView Investment Advisors LLC grew its stake in Cogent Biosciences by 25.0% in the second quarter. SkyView Investment Advisors LLC now owns 12,500 shares of the technology company’s stock valued at $105,000 after acquiring an additional 2,500 shares during the period.

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.