Market Analysts see Cogent Biosciences Inc. [COGT] gaining to $25. Time to buy?


Cogent Biosciences Inc. [NASDAQ: COGT] gained 58.67% on the last trading session, reaching $7.87 price per share at the time. The company report on June 10, 2022 that Cogent Biosciences Announces Positive Initial Clinical Data from Ongoing Phase 2 APEX Trial Evaluating Bezuclastinib in Patients with Advanced Systemic Mastocytosis (AdvSM).

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All patients treated with bezuclastinib achieved ≥50% reduction in serum tryptase, with a median reduction of 89%, regardless of prior KIT D816V inhibitor treatment.

All bone marrow biopsy-assessed patients achieved ≥50% bone marrow mast cell reduction and decreases in blood KIT D816V variant allele fraction (VAF).

Cogent Biosciences Inc. represents 45.11 million in outstanding shares, while the company has a total market value of $227.29 million with the latest information. COGT stock price has been found in the range of $6.50 to $10.8899.

If compared to the average trading volume of 343.57K shares, COGT reached a trading volume of 106300588 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Cogent Biosciences Inc. [COGT]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for COGT shares is $20.14 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on COGT stock is a recommendation set at 1.40. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

H.C. Wainwright have made an estimate for Cogent Biosciences Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on October 11, 2021. While these analysts kept the previous recommendation, Jefferies raised their target price to Buy. The new note on the price target was released on June 09, 2021, representing the official price target for Cogent Biosciences Inc. stock. Previously, the target price had yet another raise to $22, while Piper Sandler analysts kept a Overweight rating on COGT stock.

The Average True Range (ATR) for Cogent Biosciences Inc. is set at 0.84 The Price to Book ratio for the last quarter was 3.24, with the Price to Cash per share for the same quarter was set at 6.61.

Trading performance analysis for COGT stock

Cogent Biosciences Inc. [COGT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 81.76. With this latest performance, COGT shares gained by 86.49% in over the last four-week period, additionally sinking by -7.63% over the last 6 months – not to mention a drop of -3.20% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for COGT stock in for the last two-week period is set at 73.92, with the RSI for the last a single of trading hit 83.65, and the three-weeks RSI is set at 66.75 for Cogent Biosciences Inc. [COGT]. The present Moving Average for the last 50 days of trading for this stock 6.28, while it was recorded at 5.29 for the last single week of trading, and 7.52 for the last 200 days.

Cogent Biosciences Inc. [COGT]: A deeper dive into fundamental analysis

Return on Equity for this stock declined to -32.20, with Return on Assets sitting at -29.93.

Cogent Biosciences Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 10.90 and a Current Ratio set at 10.90.

An analysis of insider ownership at Cogent Biosciences Inc. [COGT]

There are presently around $374 million, or 96.44% of COGT stock, in the hands of institutional investors. The top three institutional holders of COGT stocks are: EVENTIDE ASSET MANAGEMENT, LLC with ownership of 3,900,000, which is approximately 10.956% of the company’s market cap and around 0.01% of the total institutional ownership; COMMODORE CAPITAL LP, holding 3,500,768 shares of the stock with an approximate value of $27.55 million in COGT stocks shares; and PERCEPTIVE ADVISORS LLC, currently with $25.09 million in COGT stock with ownership of nearly 0% of the company’s market capitalization.

Positions in Cogent Biosciences Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 33 institutional holders increased their position in Cogent Biosciences Inc. [NASDAQ:COGT] by around 6,885,101 shares. Additionally, 41 investors decreased positions by around 4,301,822 shares, while 23 investors held positions by with 36,392,908 shares. The mentioned changes placed institutional holdings at 47,579,831 shares, according to the latest SEC report filing. COGT stock had 15 new institutional investments in for a total of 3,875,947 shares, while 10 institutional investors sold positions of 3,145,271 shares during the same period.