Robert W. Baird Raises Cogent Biosciences (NASDAQ:COGT) Price Target to $10.00

Cogent Biosciences (NASDAQ:COGT) had its price target hoisted by Robert W. Baird from $8.00 to $10.00 in a research report report published on Thursday, Benzinga reports. They currently have a neutral rating on the technology company’s stock.

Other research analysts have also issued reports about the company. HC Wainwright decreased their target price on Cogent Biosciences from $19.00 to $17.00 and set a buy rating for the company in a report on Tuesday, September 3rd. Wedbush restated a neutral rating and issued a $11.00 price objective (up from $10.00) on shares of Cogent Biosciences in a report on Tuesday, September 3rd. JPMorgan Chase & Co. cut their price target 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 reiterated a buy rating and issued a $18.00 price objective on shares of Cogent Biosciences in a report on Wednesday, August 7th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $14.67.

Cogent Biosciences Stock Performance

NASDAQ:COGT opened at $10.47 on Thursday. The company has a 50 day moving average price of $9.40 and a 200 day moving average price of $8.10. Cogent Biosciences has a fifty-two week low of $3.67 and a fifty-two week high of $12.65. The stock has a market capitalization of $1.15 billion, a P/E ratio of -4.22 and a beta of 1.70.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Russell Investments Group Ltd. boosted its stake in shares of Cogent Biosciences by 234.5% during the first 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 acquired a new stake in shares of Cogent Biosciences during the fourth quarter worth $70,000. NEOS Investment Management LLC acquired a new stake in shares of Cogent Biosciences during the fourth quarter worth $76,000. Quest Partners LLC purchased a new position in Cogent Biosciences in the 2nd quarter valued at $89,000. Finally, E Fund Management Co. Ltd. acquired a new position in Cogent Biosciences in the 4th quarter valued at $91,000.

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.