Cogent Biosciences (NASDAQ:COGT) Given Neutral Rating at Wedbush

Wedbush reaffirmed their neutral rating on shares of Cogent Biosciences (NASDAQ:COGTFree Report) in a research note published on Friday, Benzinga reports. Wedbush currently has a $10.00 target price on the technology company’s stock.

A number of other research analysts have also commented on COGT. Needham & Company LLC reissued a buy rating and set a $18.00 price target on shares of Cogent Biosciences in a report on Wednesday, May 8th. HC Wainwright reissued a buy rating and set a $19.00 price target on shares of Cogent Biosciences in a report on Monday, May 13th. JPMorgan Chase & Co. lifted their target price on Cogent Biosciences from $18.00 to $20.00 and gave the stock an overweight rating in a report on Tuesday, February 27th. Robert W. Baird reaffirmed a neutral rating and set a $8.00 target price (down from $14.00) on shares of Cogent Biosciences in a report on Monday, February 26th. Finally, Leerink Partnrs reaffirmed an outperform rating on shares of Cogent Biosciences in a report on Thursday, February 22nd. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Cogent Biosciences currently has a consensus rating of Moderate Buy and an average target price of $14.67.

Check Out Our Latest Research Report on COGT

Cogent Biosciences Stock Performance

COGT stock traded up $0.73 during mid-day trading on Friday, reaching $8.22. The company had a trading volume of 1,001,724 shares, compared to its average volume of 1,132,380. Cogent Biosciences has a one year low of $3.67 and a one year high of $13.50. The stock’s 50-day simple moving average is $6.96 and its two-hundred day simple moving average is $6.56.

Cogent Biosciences (NASDAQ:COGTGet Free Report) last posted its earnings results on Tuesday, May 7th. The technology company reported ($0.62) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.11). On average, research analysts predict that Cogent Biosciences will post -2.19 EPS for the current year.

Hedge Funds Weigh In On Cogent Biosciences

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp grew its position in Cogent Biosciences by 15.9% during the third quarter. Bank of New York Mellon Corp now owns 288,207 shares of the technology company’s stock valued at $2,810,000 after purchasing an additional 39,491 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Cogent Biosciences by 29.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,328 shares of the technology company’s stock valued at $110,000 after acquiring an additional 2,571 shares in the last quarter. Principal Financial Group Inc. raised its position in Cogent Biosciences by 15.2% during the third quarter. Principal Financial Group Inc. now owns 21,267 shares of the technology company’s stock valued at $207,000 after acquiring an additional 2,803 shares in the last quarter. Arizona State Retirement System raised its position in Cogent Biosciences by 42.9% during the third quarter. Arizona State Retirement System now owns 15,446 shares of the technology company’s stock valued at $151,000 after acquiring an additional 4,640 shares in the last quarter. Finally, Fox Run Management L.L.C. bought a new position in Cogent Biosciences during the third quarter valued at approximately $99,000.

About Cogent Biosciences

(Get Free Report)

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.

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Analyst Recommendations for Cogent Biosciences (NASDAQ:COGT)

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