Cogent Biosciences, Inc. (NASDAQ:COGT) Stock Now Rated “Moderate Buy” by Sell-Side Analysts

Cogent Biosciences, Inc. (NASDAQ:COGT) has been given an average rating of “Moderate Buy” by the twelve research firms that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, eight have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $51.56.

A number of equities analysts recently issued reports on COGT shares. Wedbush reiterated an “outperform” rating and issued a $55.00 target price on shares of Cogent Biosciences in a report on Wednesday, September 16th. Weiss Ratings reissued a “sell (d-)” rating on shares of Cogent Biosciences in a report on Friday, October 2nd. Piper Sandler increased their target price on shares of Cogent Biosciences from $52.00 to $55.00 and gave the stock an “overweight” rating in a research note on Monday, August 17th. Guggenheim lifted their target price on shares of Cogent Biosciences from $45.00 to $52.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th. Finally, HC Wainwright reiterated a “buy” rating and issued a $55.00 target price on shares of Cogent Biosciences in a research report on Tuesday, September 15th.

Institutional Investors Weigh In On Cogent Biosciences

A number of large investors have recently made changes to their positions in the business. BlackRock Inc. bought a new stake in shares of Cogent Biosciences during the 2nd quarter valued at about $671,547,000. Pictet Asset Management Holding SA raised its holdings in shares of Cogent Biosciences by 1,499.2% in the first quarter. Pictet Asset Management Holding SA now owns 1,798,768 shares of the technology company’s stock worth $68,826,000 after buying an additional 1,686,292 shares during the period. Elmind Capital LP bought a new stake in Cogent Biosciences during the 2nd quarter valued at about $45,307,638. Assenagon Asset Management S.A. raised its position in Cogent Biosciences by 387.7% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,441,756 shares of the technology company’s stock valued at $55,796,000 after purchasing an additional 1,146,106 shares in the last quarter. Finally, Wellington Management Group LLP increased its holdings in shares of Cogent Biosciences by 21.4% in the 2nd quarter. Wellington Management Group LLP now owns 4,343,977 shares of the technology company’s stock valued at $168,112,000 after acquiring an additional 765,355 shares during the period.

Cogent Biosciences Stock Performance

Cogent Biosciences stock opened at $31.02 on Monday. The business’s 50-day moving average price is $32.43 and its two-hundred day moving average price is $35.70. The stock has a market cap of $5.38 billion, a PE ratio of -14.36 and a beta of 0.31. The company has a quick ratio of 13.57, a current ratio of 13.57 and a debt-to-equity ratio of 0.48. Cogent Biosciences has a 12-month low of $13.78 and a 12-month high of $43.73.

Cogent Biosciences (NASDAQ:COGT) last issued its quarterly earnings data on Monday, August 10th. The technology company reported ($0.52) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.55) by $0.03. As a group, analysts expect that Cogent Biosciences will post -2.23 earnings per share for the current fiscal year.

Cogent Biosciences Company Profile

Cogent Biosciences, Inc is a clinical-stage biotechnology company focused on developing precision medicines for genetically defined diseases. The company uses molecular biology and drug-discovery technologies to design therapies intended to target disease-driving mutations while limiting activity in healthy tissues.

Cogent’s lead product candidate is bezuclastinib, also known as CGT9486, an investigational, highly selective inhibitor of the KIT D816V mutation. The company is developing bezuclastinib for systemic mastocytosis, a rare disorder involving the abnormal accumulation of mast cells, including both indolent and advanced forms of the disease.

Cogent conducts its research and clinical-development activities primarily in the United States and works with clinical centers and research partners in support of its development programs.