JPMorgan Chase & Co. Raises Cogent Biosciences (NASDAQ:COGT) Price Target to $21.00

Cogent Biosciences (NASDAQ:COGT) had its target price lifted by JPMorgan Chase & Co. from $19.00 to $21.00 in a research report report published on Thursday,Benzinga reports. The firm currently has an overweight rating on the technology company’s stock.

Several other brokerages have also recently weighed in on COGT. HC Wainwright reaffirmed a “buy” rating and set a $17.00 target price on shares of Cogent Biosciences in a research note on Monday, November 4th. Needham & Company LLC reduced their price objective on shares of Cogent Biosciences from $16.00 to $15.00 and set a “buy” rating for the company in a research report on Wednesday, November 13th. Robert W. Baird lifted their price objective on shares of Cogent Biosciences from $8.00 to $10.00 and gave the stock a “neutral” rating in a research note on Thursday, September 5th. Wedbush reissued a “neutral” rating and set a $11.00 target price on shares of Cogent Biosciences in a research note on Tuesday, November 12th. Finally, Citigroup lifted their price target on shares of Cogent Biosciences from $13.00 to $15.00 and gave the stock a “buy” rating in a research report on Tuesday, September 24th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $14.83.

Cogent Biosciences Trading Down 7.8 %

Shares of NASDAQ:COGT opened at $8.90 on Thursday. The company has a 50 day moving average of $10.99 and a 200-day moving average of $9.59. The firm has a market cap of $983.09 million, a P/E ratio of -3.59 and a beta of 1.72. Cogent Biosciences has a twelve month low of $3.67 and a twelve month high of $12.61.

Cogent Biosciences (NASDAQ:COGT) last released its earnings results on Tuesday, November 12th. The technology company reported ($0.64) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.07). During the same period in the previous year, the business posted ($0.64) earnings per share. Equities research analysts forecast that Cogent Biosciences will post -2.4 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in COGT. Point72 Asset Management L.P. lifted its position in shares of Cogent Biosciences by 124.5% in the 2nd quarter. Point72 Asset Management L.P. now owns 14,986,398 shares of the technology company’s stock valued at $126,335,000 after acquiring an additional 8,310,150 shares in the last quarter. Kynam Capital Management LP lifted its holdings in shares of Cogent Biosciences by 45.2% in the first quarter. Kynam Capital Management LP now owns 8,500,000 shares of the technology company’s stock valued at $57,120,000 after purchasing an additional 2,645,234 shares in the last quarter. FMR LLC lifted its holdings in shares of Cogent Biosciences by 8.1% in the third quarter. FMR LLC now owns 8,319,411 shares of the technology company’s stock valued at $89,850,000 after purchasing an additional 625,743 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Cogent Biosciences by 27.1% in the first quarter. Vanguard Group Inc. now owns 5,765,705 shares of the technology company’s stock worth $38,746,000 after buying an additional 1,231,050 shares during the period. Finally, Redmile Group LLC grew its holdings in shares of Cogent Biosciences by 36.0% during the first quarter. Redmile Group LLC now owns 3,962,602 shares of the technology company’s stock valued at $26,629,000 after buying an additional 1,048,580 shares in 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.