Cogent Biosciences, Inc. (NASDAQ:COGT) Receives $14.43 Average PT from Analysts

Cogent Biosciences, Inc. (NASDAQ:COGT) has received a consensus rating of “Moderate Buy” from the eight research firms that are presently covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $14.43.

Several equities research analysts recently commented on the company. Robert W. Baird dropped their target price on Cogent Biosciences from $10.00 to $8.00 and set a “neutral” rating on the stock in a report on Thursday, February 27th. HC Wainwright decreased their target price on shares of Cogent Biosciences from $17.00 to $14.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Scotiabank began coverage on shares of Cogent Biosciences in a report on Friday, March 7th. They set a “sector outperform” rating and a $17.00 price target for the company. Needham & Company LLC reiterated a “hold” rating on shares of Cogent Biosciences in a report on Wednesday, February 26th. Finally, Piper Sandler raised shares of Cogent Biosciences to a “strong-buy” rating in a research report on Friday, March 7th.

Institutional Investors Weigh In On Cogent Biosciences

Several hedge funds and other institutional investors have recently modified their holdings of COGT. FMR LLC grew its stake in Cogent Biosciences by 99.2% in the fourth quarter. FMR LLC now owns 16,569,256 shares of the technology company’s stock worth $129,240,000 after purchasing an additional 8,249,845 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Cogent Biosciences by 7.3% during the 4th quarter. Vanguard Group Inc. now owns 6,133,380 shares of the technology company’s stock worth $47,840,000 after buying an additional 418,975 shares during the last quarter. Paradigm Biocapital Advisors LP grew its position in shares of Cogent Biosciences by 6.7% in the 4th quarter. Paradigm Biocapital Advisors LP now owns 4,917,412 shares of the technology company’s stock worth $38,356,000 after acquiring an additional 307,650 shares in the last quarter. Adage Capital Partners GP L.L.C. increased its holdings in shares of Cogent Biosciences by 5.8% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 4,300,000 shares of the technology company’s stock valued at $33,540,000 after acquiring an additional 233,966 shares during the last quarter. Finally, Octagon Capital Advisors LP raised its position in shares of Cogent Biosciences by 111.7% during the 4th quarter. Octagon Capital Advisors LP now owns 2,763,000 shares of the technology company’s stock valued at $21,551,000 after acquiring an additional 1,458,000 shares in the last quarter.

Cogent Biosciences Price Performance

NASDAQ:COGT opened at $4.77 on Friday. The business’s 50-day moving average is $7.58 and its two-hundred day moving average is $8.93. The firm has a market capitalization of $543.06 million, a PE ratio of -1.92 and a beta of 1.67. Cogent Biosciences has a 12 month low of $4.62 and a 12 month high of $12.61.

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.