Cogent Biosciences Inc. [NASDAQ: COGT] gained 11.30% on the last trading session, reaching $15.76 price per share at the time. The company report on August 9, 2022 that Cogent Biosciences Reports Recent Business Highlights and Second Quarter 2022 Financial Results.
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On-track to present additional data from Phase 2 APEX trial by the end of 2022.
Initial data from Phase 2 SUMMIT trial & lead-in data from Phase 3 PEAK trial planned for 1H23.
Cogent Biosciences Inc. represents 49.39 million in outstanding shares, while the company has a total market value of $986.42 million with the latest information. COGT stock price has been found in the range of $14.999 to $17.15.
If compared to the average trading volume of 3.07M shares, COGT reached a trading volume of 4568731 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 $20.75 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.
Guggenheim have made an estimate for Cogent Biosciences Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on June 28, 2022. While these analysts kept the previous recommendation, H.C. Wainwright raised their target price to Buy. The new note on the price target was released on October 11, 2021, representing the official price target for Cogent Biosciences Inc. stock. Previously, the target price had yet another raise to $20, while Jefferies analysts kept a Buy rating on COGT stock.
The Average True Range (ATR) for Cogent Biosciences Inc. is set at 1.04 The Price to Book ratio for the last quarter was 3.14, with the Price to Cash per share for the same quarter was set at 5.20.
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 14.12. With this latest performance, COGT shares gained by 39.35% in over the last four-week period, additionally plugging by 127.75% over the last 6 months – not to mention a rise of 89.20% 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 76.47, with the RSI for the last a single of trading hit 79.67, and the three-weeks RSI is set at 73.89 for Cogent Biosciences Inc. [COGT]. The present Moving Average for the last 50 days of trading for this stock 10.50, while it was recorded at 14.42 for the last single week of trading, and 8.10 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 12.00 and a Current Ratio set at 12.00.
An analysis of insider ownership at Cogent Biosciences Inc. [COGT]
Positions in Cogent Biosciences Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 85 institutional holders increased their position in Cogent Biosciences Inc. [NASDAQ:COGT] by around 29,153,284 shares. Additionally, 33 investors decreased positions by around 7,571,872 shares, while 10 investors held positions by with 33,952,490 shares. The mentioned changes placed institutional holdings at 70,677,646 shares, according to the latest SEC report filing. COGT stock had 42 new institutional investments in for a total of 9,254,801 shares, while 14 institutional investors sold positions of 3,257,784 shares during the same period.