Cogent Biosciences (NASDAQ:COGT) Shares Up 6.5%

Cogent Biosciences, Inc. (NASDAQ:COGT) rose 6.5% during mid-day trading on Friday . The company traded as high as $8.01 and last traded at $7.98. Approximately 133,591 shares traded hands during trading, a decline of 93% from the average daily volume of 1,828,143 shares. The stock had previously closed at $7.49.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. JPMorgan Chase & Co. increased their price target on shares of Cogent Biosciences from $18.00 to $20.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 27th. Robert W. Baird reaffirmed a “neutral” rating and set a $8.00 price target (down previously from $14.00) on shares of Cogent Biosciences in a research note on Monday, February 26th. Leerink Partnrs reaffirmed an “outperform” rating on shares of Cogent Biosciences in a research note on Thursday, February 22nd. HC Wainwright reaffirmed a “buy” rating and set a $19.00 price target on shares of Cogent Biosciences in a research note on Monday, May 13th. Finally, Citigroup raised their target price on shares of Cogent Biosciences from $11.00 to $13.00 and gave the company a “buy” rating in a research note on Monday, February 26th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $14.67.

Cogent Biosciences Trading Up 8.4 %

The stock’s 50 day moving average price is $6.94 and its 200 day moving average price is $6.57. The firm has a market cap of $776.35 million, a PE ratio of -3.25 and a beta of 1.57.

Cogent Biosciences (NASDAQ:COGT) last released its quarterly earnings results on Tuesday, May 7th. The technology company reported ($0.62) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.11). Analysts forecast that Cogent Biosciences, Inc. will post -2.19 earnings per share for the current year.

Institutional Investors Weigh In On Cogent Biosciences

Large investors have recently added to or reduced their stakes in the company. AJOVista LLC acquired a new stake in Cogent Biosciences during the 4th quarter valued at $45,000. China Universal Asset Management Co. Ltd. grew its holdings in Cogent Biosciences by 355.0% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 9,961 shares of the technology company’s stock valued at $59,000 after purchasing an additional 7,772 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in Cogent Biosciences by 234.5% during the 1st quarter. Russell Investments Group Ltd. now owns 10,014 shares of the technology company’s stock valued at $67,000 after purchasing an additional 7,020 shares in the last quarter. Fox Run Management L.L.C. acquired a new stake in Cogent Biosciences during the 3rd quarter valued at $99,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Cogent Biosciences by 29.4% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,328 shares of the technology company’s stock valued at $110,000 after purchasing an additional 2,571 shares in the last quarter.

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.