Robert W. Baird Lowers Cogent Biosciences (NASDAQ:COGT) Price Target to $7.00

Cogent Biosciences (NASDAQ:COGT) had its target price dropped by investment analysts at Robert W. Baird from $8.00 to $7.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the technology company’s stock. Robert W. Baird’s price target would suggest a potential upside of 40.14% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the stock. HC Wainwright decreased 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 note on Tuesday, January 14th. Piper Sandler raised shares of Cogent Biosciences to a “strong-buy” rating in a research note on Friday, March 7th. Scotiabank assumed coverage on Cogent Biosciences in a report on Friday, March 7th. They set a “sector outperform” rating and a $17.00 price objective on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Cogent Biosciences in a research report on Wednesday, February 26th. Finally, Wedbush reissued a “neutral” rating and issued a $11.00 price target on shares of Cogent Biosciences in a research note on Tuesday, February 25th. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $14.29.

Cogent Biosciences Trading Up 5.8 %

NASDAQ:COGT opened at $5.00 on Wednesday. The company has a market capitalization of $568.71 million, a P/E ratio of -2.01 and a beta of 1.91. The firm has a 50-day moving average price of $5.69 and a two-hundred day moving average price of $7.81. Cogent Biosciences has a twelve month low of $3.72 and a twelve month high of $12.61.

Cogent Biosciences (NASDAQ:COGT) last posted its earnings results on Tuesday, May 6th. The technology company reported ($0.52) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.56) by $0.04. On average, equities research analysts predict that Cogent Biosciences will post -2.42 earnings per share for the current year.

Institutional Investors Weigh In On Cogent Biosciences

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. CWM LLC grew its holdings in shares of Cogent Biosciences by 11,869.9% during the 1st quarter. CWM LLC now owns 8,738 shares of the technology company’s stock worth $52,000 after purchasing an additional 8,665 shares during the period. Schonfeld Strategic Advisors LLC purchased a new stake in Cogent Biosciences during the fourth quarter worth approximately $78,000. Hsbc Holdings PLC acquired a new stake in shares of Cogent Biosciences in the fourth quarter worth $81,000. KLP Kapitalforvaltning AS purchased a new position in shares of Cogent Biosciences in the 4th quarter valued at $88,000. Finally, E Fund Management Co. Ltd. purchased a new stake in Cogent Biosciences during the 4th 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.