Cogent Biosciences, Inc. (NASDAQ:COGT – Get Free Report)’s share price traded down 3.1% during mid-day trading on Monday . The stock traded as low as $7.70 and last traded at $7.73. 434,547 shares were traded during trading, a decline of 40% from the average session volume of 720,693 shares. The stock had previously closed at $7.98.
Wall Street Analyst Weigh In
COGT has been the subject of a number of research reports. HC Wainwright reissued a “buy” rating and set a $27.00 target price on shares of Cogent Biosciences in a report on Wednesday, August 30th. Wedbush reissued an “outperform” rating and set a $20.00 target price on shares of Cogent Biosciences in a report on Tuesday, August 8th. Finally, Needham & Company LLC reissued a “buy” rating and set a $22.00 target price on shares of Cogent Biosciences in a report on Tuesday, September 19th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $22.50.
Cogent Biosciences Stock Down 3.1 %
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Federated Hermes Inc. acquired a new position in Cogent Biosciences in the third quarter valued at about $46,000. Royal Bank of Canada raised its stake in Cogent Biosciences by 56.3% in the second quarter. Royal Bank of Canada now owns 5,630 shares of the technology company’s stock valued at $66,000 after purchasing an additional 2,027 shares in the last quarter. Quantbot Technologies LP raised its stake in Cogent Biosciences by 150.0% in the second quarter. Quantbot Technologies LP now owns 6,000 shares of the technology company’s stock valued at $54,000 after purchasing an additional 3,600 shares in the last quarter. Russell Investments Group Ltd. acquired a new position in Cogent Biosciences in the first quarter valued at about $72,000. Finally, Price T Rowe Associates Inc. MD acquired a new position in Cogent Biosciences in the third quarter valued at about $151,000.
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 exon 17 mutations found within the 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.
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