Needham & Company LLC Reiterates Hold Rating for Cogent Biosciences (NASDAQ:COGT)

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

Other research analysts have also issued reports about the company. JPMorgan Chase & Co. lifted their target price on Cogent Biosciences from $19.00 to $21.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. Wedbush reiterated a “neutral” rating and set a $11.00 price objective on shares of Cogent Biosciences in a report on Tuesday. Finally, HC Wainwright lowered their target price on Cogent Biosciences from $17.00 to $14.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $14.33.

Cogent Biosciences Stock Down 4.0 %

Shares of NASDAQ COGT opened at $6.71 on Wednesday. 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 $741.20 million, a price-to-earnings ratio of -2.71 and a beta of 1.77. The company’s fifty day moving average is $8.19 and its 200-day moving average is $9.56.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. lifted its stake in Cogent Biosciences by 38.7% in 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 in the last quarter. Schonfeld Strategic Advisors LLC bought a new stake in shares of Cogent Biosciences in the fourth quarter worth $78,000. Hsbc Holdings PLC acquired a new position in Cogent Biosciences during the fourth quarter worth $81,000. KLP Kapitalforvaltning AS acquired a new position in Cogent Biosciences during the fourth quarter worth $88,000. Finally, E Fund Management Co. Ltd. bought a new position in Cogent Biosciences in the fourth quarter valued at $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.