Cogent Biosciences’ (COGT) Buy Rating Reiterated at HC Wainwright

Cogent Biosciences (NASDAQ:COGT)‘s stock had its “buy” rating reiterated by equities researchers at HC Wainwright in a research note issued to investors on Tuesday, Benzinga reports. They currently have a $55.00 price objective on the technology company’s stock. HC Wainwright’s price target suggests a potential upside of 65.79% from the stock’s previous close.

COGT has been the topic of a number of other research reports. Guggenheim lifted their price target on Cogent Biosciences from $45.00 to $52.00 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. Wedbush restated an “outperform” rating and set a $55.00 price target on shares of Cogent Biosciences in a report on Friday, May 29th. Wall Street Zen downgraded 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 Wednesday, July 8th. Finally, Piper Sandler lifted their price objective on shares of Cogent Biosciences from $52.00 to $55.00 and gave the stock an “overweight” rating in a research report on Monday, August 17th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.56.

Cogent Biosciences Price Performance

Cogent Biosciences stock traded down $0.23 during mid-day trading on Tuesday, hitting $33.17. The company’s stock had a trading volume of 64,514 shares, compared to its average volume of 2,144,351. The company has a quick ratio of 13.57, a current ratio of 13.57 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $5.76 billion, a P/E ratio of -15.31 and a beta of 0.31. Cogent Biosciences has a twelve month low of $11.60 and a twelve month high of $43.73. The stock’s fifty day moving average price is $37.95 and its two-hundred day moving average price is $36.36.

Cogent Biosciences (NASDAQ:COGT) last announced its quarterly earnings data on Monday, August 10th. The technology company reported ($0.52) EPS for the quarter, beating analysts’ consensus estimates of ($0.55) by $0.03. Research analysts forecast that Cogent Biosciences will post -2.25 earnings per share for the current year.

Institutional Trading of Cogent Biosciences

A number of hedge funds have recently made changes to their positions in COGT. J.Safra Asset Management Corp purchased a new position in Cogent Biosciences during the second quarter valued at approximately $27,000. EverSource Wealth Advisors LLC increased its stake in Cogent Biosciences by 1,164.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 708 shares of the technology company’s stock valued at $25,000 after buying an additional 652 shares during the period. Integrated Wealth Concepts LLC purchased a new stake in Cogent Biosciences in the 2nd quarter worth approximately $29,000. Parallel Advisors LLC purchased a new stake in Cogent Biosciences in the 1st quarter worth approximately $39,000. Finally, Summit Securities Group LLC acquired a new stake in shares of Cogent Biosciences during the 1st quarter valued at $46,000.

About Cogent Biosciences

Cogent Biosciences, Inc is a clinical-stage biotechnology company focused on developing precision medicines for genetically defined diseases. The company uses its research platform to discover and advance targeted therapies designed to address the underlying drivers of serious medical conditions.

Cogent’s lead product candidate is bezuclastinib, an oral, highly selective tyrosine kinase inhibitor designed to target the KIT D816V mutation and other KIT alterations. The company is developing bezuclastinib for systemic mastocytosis, a rare disorder involving the abnormal accumulation of mast cells, including both non-advanced and advanced forms of the disease.

Cogent Biosciences is headquartered in Boulder, Colorado, and conducts its clinical development activities through studies involving patients and research sites in multiple regions.