Cogent Biosciences (NASDAQ:COGT) Given New $21.00 Price Target at JPMorgan Chase & Co.

Cogent Biosciences (NASDAQ:COGT) had its price target raised by JPMorgan Chase & Co. from $19.00 to $21.00 in a report published on Thursday,Benzinga reports. They currently have an overweight rating on the technology company’s stock.

Several other equities research analysts also recently commented on COGT. Robert W. Baird boosted their target price on shares of Cogent Biosciences from $8.00 to $10.00 and gave the stock a “neutral” rating in a research report on Thursday, September 5th. HC Wainwright restated a “buy” rating and set a $17.00 price target on shares of Cogent Biosciences in a research note on Monday, November 4th. Wedbush reissued a “neutral” rating and issued a $11.00 price target on shares of Cogent Biosciences in a report on Tuesday. Citigroup increased their target price on shares of Cogent Biosciences from $13.00 to $15.00 and gave the company a “buy” rating in a report on Tuesday, September 24th. Finally, Needham & Company LLC cut their price target on shares of Cogent Biosciences from $16.00 to $15.00 and set a “buy” rating on the stock in a report on Wednesday. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $14.83.

Cogent Biosciences Trading Down 5.9 %

COGT stock traded down $0.57 during midday trading on Thursday, hitting $9.08. The stock had a trading volume of 488,487 shares, compared to its average volume of 1,421,350. The firm has a market cap of $993.81 million, a P/E ratio of -3.89 and a beta of 1.72. Cogent Biosciences has a 1-year low of $3.67 and a 1-year high of $12.61. The business has a fifty day moving average price of $11.02 and a two-hundred day moving average price of $9.53.

Cogent Biosciences (NASDAQ:COGT) last released its earnings results on Tuesday, November 12th. The technology company reported ($0.64) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.57) by ($0.07). During the same quarter last year, the business posted ($0.64) EPS. On average, equities analysts anticipate that Cogent Biosciences will post -2.29 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of COGT. Mirae Asset Global Investments Co. Ltd. increased its stake in Cogent Biosciences by 38.7% during 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 purchasing an additional 1,104 shares in the last quarter. Verition Fund Management LLC lifted its holdings in Cogent Biosciences by 7.5% during the third quarter. Verition Fund Management LLC now owns 31,228 shares of the technology company’s stock valued at $337,000 after purchasing an additional 2,176 shares in the last quarter. SkyView Investment Advisors LLC lifted its holdings in Cogent Biosciences by 25.0% during the second quarter. SkyView Investment Advisors LLC now owns 12,500 shares of the technology company’s stock valued at $105,000 after purchasing an additional 2,500 shares in the last quarter. ProShare Advisors LLC lifted its holdings in Cogent Biosciences by 15.3% during the first quarter. ProShare Advisors LLC now owns 22,206 shares of the technology company’s stock valued at $149,000 after purchasing an additional 2,953 shares in the last quarter. Finally, Values First Advisors Inc. purchased a new position in shares of Cogent Biosciences in the third quarter worth $32,000.

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.