Needham & Company LLC Lowers Cogent Biosciences (NASDAQ:COGT) Price Target to $15.00

Cogent Biosciences (NASDAQ:COGT) had its price target dropped by equities researchers at Needham & Company LLC from $16.00 to $15.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. Needham & Company LLC’s price objective points to a potential upside of 55.44% from the company’s current price.

Several other research firms also recently weighed in on COGT. Robert W. Baird lifted their price target 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. JPMorgan Chase & Co. dropped 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. Wedbush reiterated a “neutral” rating and issued a $11.00 price target on shares of Cogent Biosciences in a report on Tuesday. Citigroup boosted their price objective on Cogent Biosciences from $13.00 to $15.00 and gave the company a “buy” rating in a report on Tuesday, September 24th. Finally, HC Wainwright reiterated a “buy” rating and issued a $17.00 target price on shares of Cogent Biosciences in a report on Monday, November 4th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $14.83.

Cogent Biosciences Stock Down 7.2 %

NASDAQ COGT opened at $9.65 on Wednesday. The business has a 50 day simple moving average of $11.02 and a 200 day simple moving average of $9.53. Cogent Biosciences has a one year low of $3.67 and a one year high of $12.61.

Cogent Biosciences (NASDAQ:COGT) last announced its quarterly earnings data on Tuesday, November 12th. The technology company reported ($0.64) EPS for the quarter, missing the consensus estimate of ($0.57) by ($0.07). During the same period in the prior year, the business earned ($0.64) EPS. On average, equities analysts predict that Cogent Biosciences will post -2.29 EPS for the current year.

Institutional Trading of Cogent Biosciences

Several institutional investors and hedge funds have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Cogent Biosciences by 38.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,959 shares of the technology company’s stock valued at $43,000 after buying an additional 1,104 shares during the last quarter. Verition Fund Management LLC boosted its holdings in Cogent Biosciences by 7.5% during the 3rd quarter. Verition Fund Management LLC now owns 31,228 shares of the technology company’s stock worth $337,000 after acquiring an additional 2,176 shares during the last quarter. SkyView Investment Advisors LLC grew 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 worth $105,000 after acquiring an additional 2,500 shares in the last quarter. ProShare Advisors LLC grew 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 worth $149,000 after acquiring an additional 2,953 shares in the last quarter. Finally, Values First Advisors Inc. purchased a new stake in shares of Cogent Biosciences in the third quarter valued at about $32,000.

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.