Cogent Biosciences, Inc. (NASDAQ:COGT – Get Free Report)’s share price was down 3.1% during mid-day trading on Monday . The stock traded as low as $7.70 and last traded at $7.73. Approximately 434,547 shares were traded during trading, a decline of 40% from the average daily volume of 720,693 shares. The stock had previously closed at $7.98.
Wall Street Analyst Weigh In
Several equities research analysts recently issued reports on COGT shares. Wedbush reiterated an “outperform” rating and set a $20.00 price target on shares of Cogent Biosciences in a report on Tuesday, August 8th. Needham & Company LLC reiterated a “buy” rating and set a $22.00 price target on shares of Cogent Biosciences in a report on Tuesday, September 19th. Finally, HC Wainwright reiterated a “buy” rating and set a $27.00 price target on shares of Cogent Biosciences in a report on Wednesday, August 30th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Cogent Biosciences currently has an average rating of “Buy” and an average target price of $22.50.
Cogent Biosciences Stock Performance
Institutional Inflows and Outflows
Institutional investors have recently bought and sold shares of the business. Federated Hermes Inc. bought a new position in Cogent Biosciences in the 3rd quarter valued at $46,000. Quantbot Technologies LP grew its stake in Cogent Biosciences by 150.0% in the 2nd quarter. Quantbot Technologies LP now owns 6,000 shares of the technology company’s stock valued at $54,000 after purchasing an additional 3,600 shares during the period. Royal Bank of Canada grew its stake in Cogent Biosciences by 56.3% in the 2nd quarter. Royal Bank of Canada now owns 5,630 shares of the technology company’s stock valued at $66,000 after purchasing an additional 2,027 shares during the period. Russell Investments Group Ltd. bought a new position in Cogent Biosciences in the 1st quarter valued at $72,000. Finally, Renaissance Technologies LLC bought a new position in shares of Cogent Biosciences during the 1st quarter worth $86,000.
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 exon 17 mutations found within the 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.
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