Cogent Biosciences (NASDAQ:COGT) Shares Down 5.3% – What’s Next?

Cogent Biosciences, Inc. (NASDAQ:COGT) shares fell 5.3% on Tuesday . The company traded as low as $11.23 and last traded at $11.24. 93,373 shares were traded during trading, a decline of 93% from the average session volume of 1,402,432 shares. The stock had previously closed at $11.87.

Analysts Set New Price Targets

COGT has been the topic of several recent analyst reports. Wedbush restated a “neutral” rating and issued a $11.00 price objective (up from $10.00) on shares of Cogent Biosciences in a report on Tuesday, September 3rd. Robert W. Baird increased their target price on Cogent Biosciences from $8.00 to $10.00 and gave the stock a “neutral” rating in a research note on Thursday, September 5th. Citigroup lifted their target price on Cogent Biosciences from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Tuesday, September 24th. HC Wainwright reissued a “buy” rating and set a $17.00 price target on shares of Cogent Biosciences in a research report on Monday. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Cogent Biosciences from $22.00 to $19.00 and set an “overweight” rating for the company in a report on Wednesday, August 7th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $14.67.

Cogent Biosciences Trading Down 17.7 %

The firm has a market capitalization of $1.07 billion, a price-to-earnings ratio of -4.21 and a beta of 1.72. The stock’s fifty day moving average price is $11.11 and its two-hundred day moving average price is $9.37.

Cogent Biosciences (NASDAQ:COGT) last announced its quarterly earnings results on Tuesday, August 6th. The technology company reported ($0.59) EPS for the quarter, missing the consensus estimate of ($0.56) by ($0.03). During the same period in the previous year, the business posted ($0.59) EPS. Analysts anticipate that Cogent Biosciences, Inc. will post -2.25 earnings per share for the current fiscal year.

Institutional Trading of Cogent Biosciences

A number of large investors have recently bought and sold shares of COGT. Values First Advisors Inc. purchased a new stake in shares of Cogent Biosciences in the third quarter valued at approximately $32,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Cogent Biosciences by 38.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,959 shares of the technology company’s stock worth $43,000 after acquiring an additional 1,104 shares in the last quarter. Russell Investments Group Ltd. increased its stake in Cogent Biosciences by 234.5% in the 1st quarter. Russell Investments Group Ltd. now owns 10,014 shares of the technology company’s stock valued at $67,000 after purchasing an additional 7,020 shares in the last quarter. nVerses Capital LLC acquired a new position in Cogent Biosciences during the third quarter worth $76,000. Finally, Quest Partners LLC acquired a new position in shares of Cogent Biosciences during the 2nd quarter worth $89,000.

About Cogent Biosciences

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.