Brokerages Set Cogent Biosciences, Inc. (NASDAQ:COGT) Price Target at $16.33

Cogent Biosciences, Inc. (NASDAQ:COGT) has earned an average recommendation of “Moderate Buy” from the eleven research firms that are covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $18.00.

A number of research firms recently commented on COGT. Wedbush reiterated a “neutral” rating and issued a $10.00 price objective on shares of Cogent Biosciences in a report on Monday, June 30th. Leerink Partners upped their price objective on Cogent Biosciences from $16.00 to $18.00 and gave the company an “outperform” rating in a report on Monday, July 7th. Jefferies Financial Group upped their price objective on Cogent Biosciences from $23.00 to $28.00 and gave the company a “buy” rating in a report on Monday, July 7th. HC Wainwright upped their price objective on Cogent Biosciences from $12.00 to $22.00 and gave the company a “buy” rating in a report on Tuesday, July 8th. Finally, JPMorgan Chase & Co. upped their price objective on Cogent Biosciences from $25.00 to $29.00 and gave the company an “overweight” rating in a report on Thursday, July 10th.

Insider Transactions at Cogent Biosciences

In other news, Director Fairmount Funds Management Llc bought 2,777,777 shares of the business’s stock in a transaction on Thursday, July 10th. The shares were bought at an average price of $9.00 per share, with a total value of $24,999,993.00. Following the completion of the transaction, the director directly owned 9,003,418 shares in the company, valued at $81,030,762. This trade represents a 44.62% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 7.29% of the stock is currently owned by insiders.

Institutional Trading of Cogent Biosciences

Large investors have recently modified their holdings of the stock. Janus Henderson Group PLC increased its position in shares of Cogent Biosciences by 84.3% during the fourth quarter. Janus Henderson Group PLC now owns 29,073 shares of the technology company’s stock worth $227,000 after acquiring an additional 13,300 shares during the period. Ameriprise Financial Inc. increased its position in shares of Cogent Biosciences by 78.6% during the fourth quarter. Ameriprise Financial Inc. now owns 21,499 shares of the technology company’s stock worth $168,000 after acquiring an additional 9,459 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Cogent Biosciences by 15.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 135,604 shares of the technology company’s stock worth $1,058,000 after acquiring an additional 17,741 shares during the period. ProShare Advisors LLC increased its position in shares of Cogent Biosciences by 30.5% during the fourth quarter. ProShare Advisors LLC now owns 31,074 shares of the technology company’s stock worth $242,000 after acquiring an additional 7,267 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Cogent Biosciences by 7.0% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 58,582 shares of the technology company’s stock worth $456,000 after acquiring an additional 3,831 shares during the period.

Cogent Biosciences Stock Performance

COGT opened at $11.09 on Tuesday. Cogent Biosciences has a one year low of $3.72 and a one year high of $12.61. The stock has a market capitalization of $1.26 billion, a PE ratio of -6.03 and a beta of 1.88. The business’s 50 day moving average price is $6.65 and its 200 day moving average price is $6.85.

Cogent Biosciences (NASDAQ:COGT) last released its quarterly earnings data on Tuesday, May 6th. The technology company reported ($0.52) EPS for the quarter, beating analysts’ consensus estimates of ($0.56) by $0.04. As a group, equities research analysts forecast that Cogent Biosciences will post -2.42 earnings per share for the current fiscal year.

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.