Cogent Biosciences (NASDAQ:COGT) Announces Quarterly Earnings Results, Misses Estimates By $0.03 EPS

Cogent Biosciences (NASDAQ:COGT) issued its earnings results on Thursday. The technology company reported ($0.59) EPS for the quarter, missing the consensus estimate of ($0.56) by ($0.03), FiscalAI reports.

Cogent Biosciences Trading Up 7.0%

Shares of Cogent Biosciences stock traded up $2.07 on Friday, hitting $31.65. The stock had a trading volume of 1,481,732 shares, compared to its average volume of 2,224,450. Cogent Biosciences has a one year low of $13.93 and a one year high of $43.73. The stock has a market cap of $5.49 billion, a price-to-earnings ratio of -14.07 and a beta of 0.36. The company has a quick ratio of 13.57, a current ratio of 13.57 and a debt-to-equity ratio of 0.48. The stock’s 50-day simple moving average is $31.83 and its two-hundred day simple moving average is $35.52.

Analyst Ratings Changes

A number of analysts have commented on COGT shares. HC Wainwright reissued a “buy” rating and set a $55.00 price objective on shares of Cogent Biosciences in a report on Tuesday, September 15th. Wall Street Zen downgraded Cogent Biosciences from a “hold” rating to a “sell” rating in a research note on Saturday, September 5th. Guggenheim increased their target price on shares of Cogent Biosciences from $45.00 to $52.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. Piper Sandler increased their price objective on Cogent Biosciences from $52.00 to $55.00 and gave the stock an “overweight” rating in a report on Monday, August 17th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cogent Biosciences in a report on Friday, October 2nd. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $51.56.

About Cogent Biosciences

Cogent Biosciences, Inc is a clinical-stage biotechnology company focused on developing precision medicines for genetically defined diseases. The company uses molecular biology and drug-discovery technologies to design therapies intended to target disease-driving mutations while limiting activity in healthy tissues.

Cogent’s lead product candidate is bezuclastinib, also known as CGT9486, an investigational, highly selective inhibitor of the KIT D816V mutation. The company is developing bezuclastinib for systemic mastocytosis, a rare disorder involving the abnormal accumulation of mast cells, including both indolent and advanced forms of the disease.

Cogent conducts its research and clinical-development activities primarily in the United States and works with clinical centers and research partners in support of its development programs.