Cogent Biosciences, Inc. (NASDAQ:COGT) Short Interest Up 15.0% in April

Cogent Biosciences, Inc. (NASDAQ:COGT) saw a significant growth in short interest during the month of April. As of April 15th, there was short interest totalling 12,470,000 shares, a growth of 15.0% from the March 31st total of 10,840,000 shares. Based on an average daily volume of 2,100,000 shares, the short-interest ratio is currently 5.9 days.

Cogent Biosciences Price Performance

NASDAQ COGT opened at $6.50 on Wednesday. Cogent Biosciences has a 52-week low of $3.67 and a 52-week high of $13.50. The business has a 50 day simple moving average of $6.80 and a 200 day simple moving average of $6.67.

Cogent Biosciences (NASDAQ:COGT) last issued its quarterly earnings data on Monday, February 26th. The technology company reported ($0.63) EPS for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.08). Equities analysts expect that Cogent Biosciences will post -1.89 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Citigroup upped their price target on shares of Cogent Biosciences from $11.00 to $13.00 and gave the stock a “buy” rating in a research report on Monday, February 26th. Leerink Partnrs reissued an “outperform” rating on shares of Cogent Biosciences in a report on Thursday, February 22nd. Wedbush boosted their target price on Cogent Biosciences from $5.00 to $10.00 and gave the stock a “neutral” rating in a research report on Friday, February 23rd. Robert W. Baird restated a “neutral” rating and set a $8.00 price objective (down previously from $14.00) on shares of Cogent Biosciences in a report on Monday, February 26th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $18.00 target price on shares of Cogent Biosciences in a report on Monday, February 26th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $13.67.

Institutional Trading of Cogent Biosciences

Hedge funds and other institutional investors have recently modified their holdings of the company. AJOVista LLC bought a new stake in Cogent Biosciences in the 4th quarter valued at approximately $45,000. China Universal Asset Management Co. Ltd. grew its stake in shares of Cogent Biosciences by 355.0% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 9,961 shares of the technology company’s stock valued at $59,000 after buying an additional 7,772 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Cogent Biosciences during the fourth quarter worth $70,000. NEOS Investment Management LLC bought a new stake in Cogent Biosciences during the fourth quarter worth $76,000. Finally, E Fund Management Co. Ltd. acquired a new stake in Cogent Biosciences during the 4th quarter valued at $91,000.

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 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.