Cogent Biosciences (NASDAQ:COGT) Coverage Initiated by Analysts at Scotiabank

Scotiabank began coverage on shares of Cogent Biosciences (NASDAQ:COGT) in a report published on Friday morning, Marketbeat Ratings reports. The firm issued a sector outperform rating and a $17.00 price objective on the technology company’s stock.

A number of other equities research analysts have also issued reports on the stock. HC Wainwright dropped their price objective on shares of Cogent Biosciences from $17.00 to $14.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Robert W. Baird decreased their target price on shares of Cogent Biosciences from $10.00 to $8.00 and set a “neutral” rating on the stock in a report on Thursday, February 27th. Wedbush reissued a “neutral” rating and issued a $11.00 price target on shares of Cogent Biosciences in a research note on Tuesday, February 25th. Needham & Company LLC reiterated a “hold” rating on shares of Cogent Biosciences in a report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. increased their price objective on Cogent Biosciences from $19.00 to $21.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $14.43.

Cogent Biosciences Stock Performance

Shares of Cogent Biosciences stock opened at $7.01 on Friday. The business’s 50 day moving average price is $8.12 and its 200 day moving average price is $9.49. The company has a market cap of $798.09 million, a price-to-earnings ratio of -2.83 and a beta of 1.81. Cogent Biosciences has a one year low of $5.73 and a one year high of $12.61.

Hedge Funds Weigh In On Cogent Biosciences

Hedge funds have recently made changes to their positions in the stock. Schonfeld Strategic Advisors LLC purchased a new stake in Cogent Biosciences in the fourth quarter valued at approximately $78,000. Victory Capital Management Inc. acquired a new position in Cogent Biosciences during the 3rd quarter worth about $113,000. Hsbc Holdings PLC purchased a new position in Cogent Biosciences during the 4th quarter valued at about $81,000. KLP Kapitalforvaltning AS acquired a new position in Cogent Biosciences in the 4th quarter valued at about $88,000. Finally, E Fund Management Co. Ltd. purchased a new stake in Cogent Biosciences during the fourth quarter worth about $89,000.

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.