Robert W. Baird Lowers Cogent Biosciences (NASDAQ:COGT) Price Target to $8.00

Cogent Biosciences (NASDAQ:COGT) had its price target lowered by equities research analysts at Robert W. Baird from $10.00 to $8.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the technology company’s stock. Robert W. Baird’s target price would suggest a potential upside of 6.24% from the company’s previous close.

Several other analysts also recently commented on COGT. Needham & Company LLC reissued a “hold” rating on shares of Cogent Biosciences in a research report on Wednesday. HC Wainwright reduced their price objective on shares of Cogent Biosciences from $17.00 to $14.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Wedbush reissued a “neutral” rating and set a $11.00 target price on shares of Cogent Biosciences in a research report on Tuesday. Finally, JPMorgan Chase & Co. boosted their price target on Cogent Biosciences from $19.00 to $21.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $14.00.

Cogent Biosciences Price Performance

Shares of Cogent Biosciences stock opened at $7.53 on Thursday. The stock has a 50-day simple moving average of $8.17 and a 200-day simple moving average of $9.54. Cogent Biosciences has a 52-week low of $5.73 and a 52-week high of $12.61. The firm has a market cap of $857.29 million, a price-to-earnings ratio of -3.04 and a beta of 1.77.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Cogent Biosciences by 38.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,959 shares of the technology company’s stock worth $43,000 after purchasing an additional 1,104 shares during the period. Balyasny Asset Management L.P. increased its position in Cogent Biosciences by 8.8% in the 4th quarter. Balyasny Asset Management L.P. now owns 20,805 shares of the technology company’s stock worth $162,000 after buying an additional 1,687 shares during the period. Verition Fund Management LLC lifted its holdings in shares of Cogent Biosciences by 7.5% during the third quarter. Verition Fund Management LLC now owns 31,228 shares of the technology company’s stock worth $337,000 after buying an additional 2,176 shares during the last quarter. New York State Common Retirement Fund boosted its position in shares of Cogent Biosciences by 10.5% in the fourth quarter. New York State Common Retirement Fund now owns 23,102 shares of the technology company’s stock valued at $180,000 after acquiring an additional 2,200 shares during the period. Finally, China Universal Asset Management Co. Ltd. grew its stake in shares of Cogent Biosciences by 11.3% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 23,422 shares of the technology company’s stock worth $183,000 after acquiring an additional 2,371 shares during 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.