Cogent Biosciences (NASDAQ:COGT) Given Hold Rating at Needham & Company LLC

Needham & Company LLC reaffirmed their hold rating on shares of Cogent Biosciences (NASDAQ:COGT) in a report published on Wednesday,Benzinga reports.

Several other research analysts also recently issued reports on COGT. HC Wainwright reduced their price target on shares of Cogent Biosciences from $17.00 to $14.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. JPMorgan Chase & Co. upped their target price on shares of Cogent Biosciences from $19.00 to $21.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. Finally, Wedbush reissued a “neutral” rating and issued a $11.00 price target on shares of Cogent Biosciences in a report on Tuesday. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $14.33.

Cogent Biosciences Stock Performance

Cogent Biosciences stock opened at $6.71 on Wednesday. The business’s fifty day moving average is $8.19 and its two-hundred day moving average is $9.56. The firm has a market cap of $741.20 million, a P/E ratio of -2.71 and a beta of 1.77. Cogent Biosciences has a 52 week low of $5.73 and a 52 week high of $12.61.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Creative Planning lifted its holdings in Cogent Biosciences by 29.6% in the third quarter. Creative Planning now owns 14,324 shares of the technology company’s stock valued at $155,000 after buying an additional 3,272 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position 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 valued at $43,000 after acquiring an additional 1,104 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its stake in shares of Cogent Biosciences by 87.4% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 21,051 shares of the technology company’s stock valued at $227,000 after purchasing an additional 9,819 shares during the period. Mesirow Financial Investment Management Inc. bought a new position in shares of Cogent Biosciences in the 3rd quarter worth $232,000. Finally, Victory Capital Management Inc. acquired a new stake in shares of Cogent Biosciences during the third quarter worth $113,000.

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.