Lifesci Capital Has Bearish Outlook for COGT FY2024 Earnings

Cogent Biosciences, Inc. (NASDAQ:COGT) – Equities researchers at Lifesci Capital decreased their FY2024 earnings per share (EPS) estimates for shares of Cogent Biosciences in a report released on Wednesday, November 13th. Lifesci Capital analyst S. Slutsky now anticipates that the technology company will post earnings per share of ($2.29) for the year, down from their previous estimate of ($2.26). The consensus estimate for Cogent Biosciences’ current full-year earnings is ($2.29) per share. Lifesci Capital also issued estimates for Cogent Biosciences’ Q4 2024 earnings at ($0.61) EPS.

Cogent Biosciences (NASDAQ:COGT) last posted its earnings results on Tuesday, November 12th. The technology company reported ($0.64) earnings per share for the quarter, missing the consensus estimate of ($0.57) by ($0.07). During the same period in the previous year, the firm posted ($0.64) EPS.

COGT has been the topic of several other research reports. HC Wainwright restated a “buy” rating and set a $17.00 target price on shares of Cogent Biosciences in a research report on Monday, November 4th. Needham & Company LLC cut their target price on Cogent Biosciences from $16.00 to $15.00 and set a “buy” rating for the company in a research note on Wednesday. JPMorgan Chase & Co. lifted their target price on Cogent Biosciences from $19.00 to $21.00 and gave the company an “overweight” rating in a report on Thursday. Wedbush reissued a “neutral” rating and issued a $11.00 price target on shares of Cogent Biosciences in a report on Tuesday, November 12th. Finally, Robert W. Baird boosted their price objective 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. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $14.83.

Cogent Biosciences Trading Down 7.8 %

COGT opened at $8.90 on Friday. Cogent Biosciences has a 12 month low of $3.67 and a 12 month high of $12.61. The company has a market cap of $974.11 million, a PE ratio of -3.59 and a beta of 1.72. The company has a 50 day moving average of $10.99 and a 200 day moving average of $9.57.

Institutional Trading of Cogent Biosciences

A number of large investors have recently modified their holdings of the business. Point72 Asset Management L.P. increased its position in shares of Cogent Biosciences by 124.5% in the second quarter. Point72 Asset Management L.P. now owns 14,986,398 shares of the technology company’s stock worth $126,335,000 after purchasing an additional 8,310,150 shares during the last quarter. Kynam Capital Management LP increased its holdings in shares of Cogent Biosciences by 45.2% in the 1st quarter. Kynam Capital Management LP now owns 8,500,000 shares of the technology company’s stock worth $57,120,000 after buying an additional 2,645,234 shares during the last quarter. Deerfield Management Company L.P. Series C increased its holdings in shares of Cogent Biosciences by 144.0% in the 2nd quarter. Deerfield Management Company L.P. Series C now owns 3,744,263 shares of the technology company’s stock worth $31,564,000 after buying an additional 2,209,918 shares during the last quarter. Janus Henderson Group PLC raised its position in shares of Cogent Biosciences by 12,785.8% during the 1st quarter. Janus Henderson Group PLC now owns 2,099,357 shares of the technology company’s stock valued at $14,097,000 after buying an additional 2,083,065 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Cogent Biosciences by 27.1% during the 1st quarter. Vanguard Group Inc. now owns 5,765,705 shares of the technology company’s stock worth $38,746,000 after acquiring an additional 1,231,050 shares during 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.