Cogent Biosciences (NASDAQ:COGT) Trading 5.8% Higher

Cogent Biosciences, Inc. (NASDAQ:COGT) shares traded up 5.8% during mid-day trading on Monday . The company traded as high as $11.09 and last traded at $11.08. 63,502 shares changed hands during trading, a decline of 96% from the average session volume of 1,518,976 shares. The stock had previously closed at $10.47.

Analyst Upgrades and Downgrades

Several brokerages recently commented on COGT. Wedbush reaffirmed a “neutral” rating and issued a $11.00 target price (up from $10.00) on shares of Cogent Biosciences in a research report on Tuesday, September 3rd. Robert W. Baird increased their price objective on shares of Cogent Biosciences from $8.00 to $10.00 and gave the company a “neutral” rating in a research note on Thursday, September 5th. HC Wainwright cut their price target on shares of Cogent Biosciences from $19.00 to $17.00 and set a “buy” rating for the company in a research note on Tuesday, September 3rd. JPMorgan Chase & Co. lowered their price objective 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 restated a “buy” rating and set a $18.00 target price on shares of Cogent Biosciences in a research report on Wednesday, August 7th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $14.67.

Cogent Biosciences Stock Down 0.9 %

The stock has a market capitalization of $1.16 billion, a price-to-earnings ratio of -4.31 and a beta of 1.70. The stock’s 50-day simple moving average is $9.49 and its 200 day simple moving average is $8.13.

Cogent Biosciences (NASDAQ:COGT) last announced its earnings results on Tuesday, August 6th. The technology company reported ($0.59) EPS for the quarter, missing the consensus estimate of ($0.56) by ($0.03). During the same period last year, the business earned ($0.59) earnings per share. As a group, equities research analysts anticipate that Cogent Biosciences, Inc. will post -2.25 earnings per share for the current year.

Institutional Trading of Cogent Biosciences

Several large investors have recently made changes to their positions in the business. Jump Financial LLC acquired a new position in Cogent Biosciences during the 4th quarter worth about $147,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Cogent Biosciences during the fourth quarter valued at approximately $70,000. Trexquant Investment LP increased its holdings in shares of Cogent Biosciences by 88.3% in the fourth quarter. Trexquant Investment LP now owns 77,402 shares of the technology company’s stock valued at $455,000 after purchasing an additional 36,294 shares in the last quarter. Capstone Investment Advisors LLC bought a new position in Cogent Biosciences in the 4th quarter worth approximately $238,000. Finally, NEOS Investment Management LLC acquired a new position in Cogent Biosciences during the 4th quarter worth $76,000.

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.