Cogent Biosciences’ (COGT) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Cogent Biosciences (NASDAQ:COGT) in a research note published on Thursday morning, Benzinga reports. The brokerage currently has a $18.00 target price on the technology company’s stock.

COGT has been the topic of a number of other research reports. Wedbush restated a neutral rating and issued a $10.00 target price on shares of Cogent Biosciences in a research note on Friday, May 24th. HC Wainwright restated a buy rating and issued a $19.00 price objective on shares of Cogent Biosciences in a research note on Monday, June 17th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of $14.67.

Cogent Biosciences Trading Down 0.1 %

Shares of Cogent Biosciences stock opened at $8.43 on Thursday. The stock has a fifty day simple moving average of $7.89 and a 200 day simple moving average of $6.77. Cogent Biosciences has a 12-month low of $3.67 and a 12-month high of $13.36. The company has a market capitalization of $805.99 million, a P/E ratio of -3.40 and a beta of 1.60.

Cogent Biosciences (NASDAQ:COGT) last announced its earnings results on Tuesday, May 7th. The technology company reported ($0.62) EPS for the quarter, missing the consensus estimate of ($0.51) by ($0.11). On average, analysts predict that Cogent Biosciences will post -2.19 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. 49 Wealth Management LLC raised its stake in Cogent Biosciences by 20.5% in the 1st quarter. 49 Wealth Management LLC now owns 13,137 shares of the technology company’s stock valued at $91,000 after acquiring an additional 2,236 shares during the period. Citigroup Inc. lifted its stake in shares of Cogent Biosciences by 3.2% during the 3rd quarter. Citigroup Inc. now owns 82,241 shares of the technology company’s stock valued at $802,000 after buying an additional 2,522 shares in the last quarter. ProShare Advisors LLC boosted its holdings in Cogent Biosciences by 15.3% in the 1st quarter. ProShare Advisors LLC now owns 22,206 shares of the technology company’s stock worth $149,000 after buying an additional 2,953 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Cogent Biosciences by 8.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 52,379 shares of the technology company’s stock worth $352,000 after buying an additional 3,912 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its holdings in Cogent Biosciences by 12.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 35,211 shares of the technology company’s stock valued at $237,000 after acquiring an additional 4,030 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.