Cogent Biosciences, Inc. (COGT) – What Are Analysts Thinking About This Stock?

Shares of Cogent Biosciences, Inc. (NASDAQ:COGT) have been assigned a consensus recommendation of “Moderate Buy” from the twelve analysts that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $51.56.

A number of research firms have commented on COGT. Wall Street Zen lowered shares of Cogent Biosciences from a “hold” rating to a “sell” rating in a research report on Saturday, September 5th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cogent Biosciences in a research note on Friday, October 2nd. Piper Sandler raised their price objective on shares of Cogent Biosciences from $52.00 to $55.00 and gave the stock an “overweight” rating in a report on Monday, August 17th. Wedbush reiterated an “outperform” rating and issued a $55.00 target price on shares of Cogent Biosciences in a research note on Wednesday, September 16th. Finally, HC Wainwright reissued a “buy” rating and issued a $55.00 target price on shares of Cogent Biosciences in a report on Tuesday, September 15th.

Cogent Biosciences Price Performance

Shares of NASDAQ COGT opened at $31.02 on Monday. Cogent Biosciences has a 52-week low of $13.78 and a 52-week high of $43.73. The company has a debt-to-equity ratio of 0.48, a quick ratio of 13.57 and a current ratio of 13.57. The business has a fifty day moving average of $32.43 and a two-hundred day moving average of $35.70. The stock has a market cap of $5.38 billion, a PE ratio of -14.36 and a beta of 0.31.

Cogent Biosciences (NASDAQ:COGT) last posted its earnings results on Monday, August 10th. The technology company reported ($0.52) earnings per share for the quarter, topping the consensus estimate of ($0.55) by $0.03. As a group, equities research analysts expect that Cogent Biosciences will post -2.23 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cogent Biosciences

Institutional investors have recently bought and sold shares of the business. J.Safra Asset Management Corp acquired a new position in Cogent Biosciences in the second quarter worth $27,000. Integrated Wealth Concepts LLC acquired a new stake in shares of Cogent Biosciences in the second quarter valued at $29,000. Parallel Advisors LLC acquired a new stake in shares of Cogent Biosciences in the first quarter valued at $39,000. Summit Securities Group LLC acquired a new stake in shares of Cogent Biosciences in the first quarter valued at $46,000. Finally, Quantbot Technologies LP bought a new position in shares of Cogent Biosciences in the second quarter valued at about $53,000.

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.