Cogent Biosciences (NASDAQ:COGT) Trading Down 4.9%

Cogent Biosciences, Inc. (NASDAQ:COGT)’s stock price fell 4.9% on Tuesday . The company traded as low as $8.48 and last traded at $8.50. 171,845 shares were traded during trading, a decline of 90% from the average session volume of 1,790,787 shares. The stock had previously closed at $8.94.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on COGT. Wedbush reaffirmed a “neutral” rating and set a $10.00 price target on shares of Cogent Biosciences in a research note on Friday, May 24th. Needham & Company LLC reaffirmed a “buy” rating and set a $18.00 price target on shares of Cogent Biosciences in a research note on Thursday, June 27th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $19.00 price target on shares of Cogent Biosciences in a research note on Monday, June 17th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $14.67.

Cogent Biosciences Trading Up 1.5 %

The stock’s 50 day moving average price is $7.99 and its 200 day moving average price is $6.85. The firm has a market cap of $799.30 million, a PE ratio of -3.37 and a beta of 1.71.

Cogent Biosciences (NASDAQ:COGT) last issued its earnings results on Tuesday, May 7th. The technology company reported ($0.62) EPS for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.11). Analysts forecast that Cogent Biosciences, Inc. will post -2.19 earnings per share for the current year.

Hedge Funds Weigh In On Cogent Biosciences

A number of hedge funds have recently made changes to their positions in the business. AJOVista LLC purchased a new stake in Cogent Biosciences during the 4th quarter worth $45,000. China Universal Asset Management Co. Ltd. increased its stake in Cogent Biosciences by 355.0% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 9,961 shares of the technology company’s stock worth $59,000 after buying an additional 7,772 shares during the period. Russell Investments Group Ltd. increased its stake in Cogent Biosciences by 234.5% during the 1st quarter. Russell Investments Group Ltd. now owns 10,014 shares of the technology company’s stock worth $67,000 after buying an additional 7,020 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in Cogent Biosciences during the 4th quarter worth $70,000. Finally, NEOS Investment Management LLC purchased a new stake 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.