Cogent Biosciences (NASDAQ:COGT) Price Target Cut to $8.00 by Analysts at Robert W. Baird

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

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

Cogent Biosciences Stock Up 7.7 %

NASDAQ COGT opened at $7.53 on Thursday. Cogent Biosciences has a twelve month low of $5.73 and a twelve month high of $12.61. The stock has a market cap of $857.29 million, a P/E ratio of -3.04 and a beta of 1.77. The company’s 50-day simple moving average is $8.17 and its 200 day simple moving average is $9.54.

Institutional Trading of Cogent Biosciences

Hedge funds and other institutional investors have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. lifted its position in 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 buying an additional 1,104 shares in the last quarter. Schonfeld Strategic Advisors LLC acquired a new position in shares of Cogent Biosciences during the fourth quarter worth approximately $78,000. Victory Capital Management Inc. acquired a new position in shares of Cogent Biosciences during the third quarter worth approximately $113,000. Hsbc Holdings PLC bought a new stake in shares of Cogent Biosciences during the fourth quarter valued at approximately $81,000. Finally, KLP Kapitalforvaltning AS acquired a new stake in shares of Cogent Biosciences in the fourth quarter valued at approximately $88,000.

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.