Cogent Biosciences (NASDAQ:COGT) Price Target Cut to $17.00 by Analysts at HC Wainwright

Cogent Biosciences (NASDAQ:COGT) had its target price decreased by HC Wainwright from $19.00 to $17.00 in a report released on Tuesday morning, Benzinga reports. HC Wainwright currently has a buy rating on the technology company’s stock. HC Wainwright also issued estimates for Cogent Biosciences’ Q3 2024 earnings at ($0.57) EPS, Q4 2024 earnings at ($0.59) EPS, FY2024 earnings at ($2.37) EPS, Q1 2025 earnings at ($0.61) EPS, Q2 2025 earnings at ($0.63) EPS, Q3 2025 earnings at ($0.65) EPS, Q4 2025 earnings at ($0.67) EPS and FY2025 earnings at ($2.56) EPS.

A number of other equities research analysts also recently weighed in on COGT. Needham & Company LLC reaffirmed a buy rating and set a $18.00 price target on shares of Cogent Biosciences in a research note on Wednesday, August 7th. JPMorgan Chase & Co. cut their price target on Cogent Biosciences from $22.00 to $19.00 and set an overweight rating for the company in a research note on Wednesday, August 7th. Finally, Wedbush reaffirmed a neutral rating and set a $10.00 price target on shares of Cogent Biosciences in a research note on Tuesday, August 6th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Cogent Biosciences currently has an average rating of Moderate Buy and an average target price of $14.67.

Cogent Biosciences Trading Down 6.9 %

Shares of NASDAQ COGT opened at $10.47 on Tuesday. Cogent Biosciences has a one year low of $3.67 and a one year high of $12.65. The firm has a market capitalization of $1.15 billion, a PE ratio of -4.22 and a beta of 1.70. The business has a 50-day moving average price of $9.40 and a two-hundred day moving average price of $8.10.

Cogent Biosciences (NASDAQ:COGT) last announced its quarterly earnings data on Tuesday, August 6th. The technology company reported ($0.59) EPS for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.03). During the same period in the previous year, the business posted ($0.59) earnings per share. Research analysts anticipate that Cogent Biosciences will post -2.25 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. 49 Wealth Management LLC raised its stake in shares of 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 in the last quarter. SkyView Investment Advisors LLC raised its stake in shares of Cogent Biosciences by 25.0% in the 2nd quarter. SkyView Investment Advisors LLC now owns 12,500 shares of the technology company’s stock valued at $105,000 after acquiring an additional 2,500 shares in the last quarter. ProShare Advisors LLC raised its stake in shares of Cogent Biosciences by 15.3% in the 1st quarter. ProShare Advisors LLC now owns 22,206 shares of the technology company’s stock valued at $149,000 after acquiring an additional 2,953 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of 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 valued at $352,000 after acquiring an additional 3,912 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of Cogent Biosciences by 12.9% in 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 in the last quarter.

About Cogent Biosciences

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.