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

Cogent Biosciences (NASDAQ:COGT) had its target price lowered by investment analysts at Needham & Company LLC from $16.00 to $15.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. Needham & Company LLC’s price target would suggest a potential upside of 44.51% from the stock’s previous close.

COGT has been the subject of several other reports. Wedbush restated a “neutral” rating and set a $11.00 price objective on shares of Cogent Biosciences in a research report on Tuesday. JPMorgan Chase & Co. lowered their price objective on Cogent Biosciences from $22.00 to $19.00 and set an “overweight” rating for the company in a research report on Wednesday, August 7th. Robert W. Baird raised their price objective on Cogent Biosciences from $8.00 to $10.00 and gave the stock a “neutral” rating in a research report on Thursday, September 5th. Citigroup raised their price objective on Cogent Biosciences from $13.00 to $15.00 and gave the stock a “buy” rating in a research report on Tuesday, September 24th. Finally, HC Wainwright restated a “buy” rating and set a $17.00 price objective on shares of Cogent Biosciences in a research report on Monday, November 4th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $14.50.

Cogent Biosciences Stock Down 0.2 %

Shares of COGT stock opened at $10.38 on Wednesday. Cogent Biosciences has a twelve month low of $3.67 and a twelve month high of $12.61. The company has a market cap of $1.14 billion, a P/E ratio of -4.19 and a beta of 1.72. The business has a fifty day simple moving average of $11.08 and a 200 day simple moving average of $9.53.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Values First Advisors Inc. bought a new position in shares of Cogent Biosciences in the third quarter valued at approximately $32,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Cogent Biosciences by 38.7% in 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 purchasing an additional 1,104 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Cogent Biosciences by 234.5% in the first quarter. Russell Investments Group Ltd. now owns 10,014 shares of the technology company’s stock valued at $67,000 after purchasing an additional 7,020 shares in the last quarter. nVerses Capital LLC bought a new position in shares of Cogent Biosciences in the third quarter valued at approximately $76,000. Finally, Quest Partners LLC bought a new stake in Cogent Biosciences during the second quarter worth $89,000.

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.