Cogent Biosciences, Inc. (NASDAQ:COGT – Get Free Report)’s stock price shot up 11.5% during trading on Monday . The stock traded as high as $6.76 and last traded at $6.71. 479,981 shares traded hands during mid-day trading, a decline of 76% from the average session volume of 1,990,698 shares. The stock had previously closed at $6.02.
Analyst Upgrades and Downgrades
Several brokerages have commented on COGT. Citigroup raised their price target on shares of Cogent Biosciences from $11.00 to $13.00 and gave the company a “buy” rating in a report on Monday, February 26th. Wedbush lifted their price objective on shares of Cogent Biosciences from $5.00 to $10.00 and gave the stock a “neutral” rating in a report on Friday, February 23rd. Leerink Partnrs reaffirmed an “outperform” rating on shares of Cogent Biosciences in a report on Thursday, February 22nd. JPMorgan Chase & Co. lifted their price objective on shares of Cogent Biosciences from $18.00 to $20.00 and gave the stock an “overweight” rating in a report on Tuesday, February 27th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $18.00 target price on shares of Cogent Biosciences in a research report on Monday, February 26th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $13.67.
Check Out Our Latest Research Report on COGT
Cogent Biosciences Stock Up 8.3 %
Cogent Biosciences (NASDAQ:COGT – Get Free Report) last posted its quarterly earnings data on Monday, February 26th. The technology company reported ($0.63) EPS for the quarter, missing the consensus estimate of ($0.55) by ($0.08). As a group, equities research analysts anticipate that Cogent Biosciences, Inc. will post -1.89 EPS for the current fiscal year.
Institutional Investors Weigh In On Cogent Biosciences
Several hedge funds have recently bought and sold shares of the business. Citigroup Inc. boosted its stake in Cogent Biosciences by 3.2% during the third quarter. Citigroup Inc. now owns 82,241 shares of the technology company’s stock worth $802,000 after acquiring an additional 2,522 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Cogent Biosciences by 29.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,328 shares of the technology company’s stock worth $110,000 after buying an additional 2,571 shares in the last quarter. Principal Financial Group Inc. lifted its stake in shares of Cogent Biosciences by 15.2% in the third quarter. Principal Financial Group Inc. now owns 21,267 shares of the technology company’s stock worth $207,000 after buying an additional 2,803 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its stake in shares of Cogent Biosciences by 18.2% in the third quarter. State Board of Administration of Florida Retirement System now owns 23,142 shares of the technology company’s stock worth $226,000 after buying an additional 3,570 shares in the last quarter. Finally, Arizona State Retirement System lifted its stake in shares of Cogent Biosciences by 42.9% in the third quarter. Arizona State Retirement System now owns 15,446 shares of the technology company’s stock worth $151,000 after buying an additional 4,640 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.
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