Cogent Biosciences (NASDAQ:COGT) Sets New 52-Week Low – Time to Sell?

Cogent Biosciences, Inc. (NASDAQ:COGT)’s share price reached a new 52-week low on Monday . The stock traded as low as $4.25 and last traded at $4.41, with a volume of 84882 shares changing hands. The stock had previously closed at $4.77.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on COGT. Piper Sandler upgraded Cogent Biosciences to a “strong-buy” rating in a research report on Friday, March 7th. Wedbush restated a “neutral” rating and set a $11.00 target price on shares of Cogent Biosciences in a report on Tuesday, February 25th. HC Wainwright cut their target price on shares of Cogent Biosciences from $17.00 to $14.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Robert W. Baird lowered their price target on shares of Cogent Biosciences from $10.00 to $8.00 and set a “neutral” rating on the stock in a research report on Thursday, February 27th. Finally, Needham & Company LLC restated a “hold” rating on shares of Cogent Biosciences in a research report on Wednesday, February 26th. Three analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $14.43.

Cogent Biosciences Stock Down 8.4 %

The business’s fifty day moving average price is $7.58 and its 200 day moving average price is $8.92. The firm has a market capitalization of $497.52 million, a PE ratio of -1.78 and a beta of 1.67.

Institutional Trading of Cogent Biosciences

Hedge funds and other institutional investors have recently bought and sold shares of the company. Schonfeld Strategic Advisors LLC purchased a new position in shares of Cogent Biosciences during the 4th quarter worth $78,000. Hsbc Holdings PLC acquired a new position in Cogent Biosciences in the fourth quarter valued at $81,000. KLP Kapitalforvaltning AS purchased a new position in Cogent Biosciences during the fourth quarter worth about $88,000. E Fund Management Co. Ltd. acquired a new stake in Cogent Biosciences in the 4th quarter worth about $89,000. Finally, Proficio Capital Partners LLC purchased a new stake in Cogent Biosciences in the 4th quarter valued at about $93,000.

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.