Cogent Biosciences (NASDAQ:COGT) Given New $21.00 Price Target at JPMorgan Chase & Co.

Cogent Biosciences (NASDAQ:COGT) had its price objective hoisted by stock analysts at JPMorgan Chase & Co. from $19.00 to $21.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the technology company’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 110.21% from the stock’s previous close.

COGT has been the topic of a number of other reports. Needham & Company LLC dropped their target price on Cogent Biosciences from $16.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday. Wedbush reiterated a “neutral” rating and set a $11.00 target price on shares of Cogent Biosciences in a research note on Tuesday. Robert W. Baird lifted their price target on shares of Cogent Biosciences from $8.00 to $10.00 and gave the stock a “neutral” rating in a research note on Thursday, September 5th. HC Wainwright reaffirmed a “buy” rating and issued a $17.00 price target on shares of Cogent Biosciences in a report on Monday, November 4th. Finally, Citigroup raised their price objective on shares of Cogent Biosciences from $13.00 to $15.00 and gave the stock a “buy” rating in a report on Tuesday, September 24th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Cogent Biosciences has a consensus rating of “Moderate Buy” and a consensus price target of $14.83.

Cogent Biosciences Price Performance

NASDAQ COGT traded down $0.41 on Thursday, reaching $9.99. The company had a trading volume of 331,112 shares, compared to its average volume of 1,423,308. The firm has a market capitalization of $1.09 billion, a PE ratio of -3.98 and a beta of 1.72. The firm has a 50-day moving average of $11.06 and a 200-day moving average of $9.53. Cogent Biosciences has a 1 year low of $3.67 and a 1 year high of $12.61.

Cogent Biosciences (NASDAQ:COGT) last released its quarterly earnings results on Tuesday, November 12th. The technology company reported ($0.64) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.07). During the same quarter last year, the business earned ($0.64) EPS. As a group, sell-side analysts expect that Cogent Biosciences will post -2.29 EPS for the current fiscal year.

Institutional Trading of Cogent Biosciences

Institutional investors and hedge funds have recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of 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 buying an additional 1,104 shares during the period. SkyView Investment Advisors LLC boosted its stake in Cogent Biosciences by 25.0% in the second quarter. SkyView Investment Advisors LLC now owns 12,500 shares of the technology company’s stock valued at $105,000 after acquiring an additional 2,500 shares during the period. ProShare Advisors LLC grew its holdings in shares of Cogent Biosciences by 15.3% during the first quarter. ProShare Advisors LLC now owns 22,206 shares of the technology company’s stock valued at $149,000 after purchasing an additional 2,953 shares during the last quarter. Values First Advisors Inc. acquired a new stake in shares of Cogent Biosciences during the 3rd quarter worth approximately $32,000. Finally, Creative Planning lifted its holdings in shares of Cogent Biosciences by 29.6% in the 3rd quarter. Creative Planning now owns 14,324 shares of the technology company’s stock worth $155,000 after purchasing an additional 3,272 shares during the last quarter.

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.