Brokerages Set Cogent Biosciences, Inc. (NASDAQ:COGT) Target Price at $14.43

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

A number of equities research analysts have commented on the stock. Needham & Company LLC restated a “hold” rating on shares of Cogent Biosciences in a report on Wednesday, February 26th. Piper Sandler raised shares of Cogent Biosciences to a “strong-buy” rating in a research report on Friday, March 7th. Scotiabank assumed coverage on Cogent Biosciences in a research report on Friday, March 7th. They issued a “sector outperform” rating and a $17.00 target price for the company. Wedbush reiterated a “neutral” rating and issued a $11.00 price target on shares of Cogent Biosciences in a report on Tuesday, February 25th. Finally, Robert W. Baird decreased their price objective on Cogent Biosciences from $10.00 to $8.00 and set a “neutral” rating for the company in a report on Thursday, February 27th.

Institutional Trading of Cogent Biosciences

Institutional investors and hedge funds have recently modified their holdings of the stock. Schonfeld Strategic Advisors LLC purchased a new position in shares of Cogent Biosciences during the fourth quarter valued at approximately $78,000. Victory Capital Management Inc. purchased a new position in Cogent Biosciences during the 3rd quarter worth $113,000. Hsbc Holdings PLC bought a new stake in shares of Cogent Biosciences in the 4th quarter worth $81,000. KLP Kapitalforvaltning AS bought a new stake in shares of Cogent Biosciences in the 4th quarter worth $88,000. Finally, E Fund Management Co. Ltd. purchased a new stake in shares of Cogent Biosciences in the fourth quarter valued at about $89,000.

Cogent Biosciences Stock Performance

Cogent Biosciences stock opened at $5.79 on Friday. The stock’s 50 day moving average price is $7.78 and its two-hundred day moving average price is $9.03. The stock has a market capitalization of $659.19 million, a price-to-earnings ratio of -2.33 and a beta of 1.80. Cogent Biosciences has a 52-week low of $5.55 and a 52-week high of $12.61.

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.