Cogent Biosciences, Inc. (NASDAQ:COGT) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Cogent Biosciences, Inc. (NASDAQ:COGT) have been assigned an average rating of “Moderate Buy” from the eight ratings firms that are presently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among analysts that have covered the stock in the last year is $14.43.

Several analysts recently issued reports on COGT shares. Needham & Company LLC reiterated a “hold” rating on shares of Cogent Biosciences in a report on Wednesday, February 26th. Piper Sandler upgraded Cogent Biosciences to a “strong-buy” rating in a research note on Friday, March 7th. Scotiabank started coverage on Cogent Biosciences in a report on Friday, March 7th. They issued a “sector outperform” rating and a $17.00 price objective for the company. Robert W. Baird lowered 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. Finally, HC Wainwright cut their target price on shares of Cogent Biosciences from $17.00 to $14.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th.

Institutional Investors Weigh In On Cogent Biosciences

Several hedge funds have recently bought and sold shares of COGT. Schonfeld Strategic Advisors LLC bought a new position in shares of Cogent Biosciences during the fourth quarter worth approximately $78,000. Hsbc Holdings PLC bought a new position in Cogent Biosciences during the 4th quarter worth $81,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Cogent Biosciences during the fourth quarter worth $88,000. E Fund Management Co. Ltd. bought a new stake in shares of Cogent Biosciences in the fourth quarter valued at about $89,000. Finally, Proficio Capital Partners LLC acquired a new position in shares of Cogent Biosciences in the fourth quarter valued at about $93,000.

Cogent Biosciences Price Performance

Shares of NASDAQ:COGT opened at $6.48 on Friday. The company’s 50-day moving average price is $7.87 and its two-hundred day moving average price is $9.11. Cogent Biosciences has a one year low of $5.88 and a one year high of $12.61. The stock has a market capitalization of $737.75 million, a PE ratio of -2.61 and a beta of 1.80.

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.