For Cogent Biosciences Inc [COGT], Analyst sees a rise to $11. What next?

Cogent Biosciences Inc [NASDAQ: COGT] surged by $0.39 during the normal trading session on while it closed the day at $8.95. The company report on February 22, 2024 at 2:30 PM that Cogent Biosciences Announces Positive Part 1b Data from SUMMIT Trial Evaluating Bezuclastinib in Patients with Nonadvanced Systemic Mastocytosis.

Registration-enabling SUMMIT Part 2 initiated and actively enrolling at 40 sites globally; RP2D selected at 100 mg once-daily optimized formulation based on:.

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51% week 12 mean change in Total Symptom Score (TSS), including 70% of patients achieving ≥50% reduction in TSS at week 12.

Cogent Biosciences Inc stock has also gained 2.87% of its value over the past 7 days. However, COGT stock has inclined by 18.86% in the 3 months of the year. Over the past six months meanwhile, it has lost -26.03% and gained 52.21% year-on date.

The market cap for COGT stock reached $770.77 million, with 69.89 million shares outstanding and 69.43 million shares in the current float. Compared to the average trading volume of 2.26M shares, COGT reached a trading volume of 14137568 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say 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 $16.27 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 1.27. 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.

Citigroup have made an estimate for Cogent Biosciences Inc shares, keeping their opinion on the stock as Buy, with their previous recommendation back on February 08, 2024. The new note on the price target was released on December 11, 2023, representing the official price target for Cogent Biosciences Inc stock. Previously, the target price had yet another raise to $18, while JP Morgan analysts kept a Overweight rating on COGT stock.

The Average True Range (ATR) for Cogent Biosciences Inc is set at 0.88 The Price to Book ratio for the last quarter was 3.17, with the Price to Cash per share for the same quarter was set at 3.24.

COGT stock trade performance evaluation

Cogent Biosciences Inc [COGT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.87. With this latest performance, COGT shares gained by 93.30% in over the last four-week period, additionally sinking by -26.03% over the last 6 months – not to mention a drop of -28.86% 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 72.47, with the RSI for the last a single of trading hit 76.29, and the three-weeks RSI is set at 67.73 for Cogent Biosciences Inc [COGT]. The present Moving Average for the last 50 days of trading for this stock 5.60, while it was recorded at 8.80 for the last single week of trading, and 9.44 for the last 200 days.

Cogent Biosciences Inc [COGT]: An insightful look at the core fundamentals

Cogent Biosciences Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 8.24 and a Current Ratio set at 8.24.

Earnings per share (EPS) analysis for Cogent Biosciences Inc [COGT] stock

With the latest financial reports released by the company, Cogent Biosciences Inc posted -0.56/share EPS, while the average EPS was predicted by analysts to be reported at -0.52/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -7.70%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for COGT.

Cogent Biosciences Inc [COGT]: Institutional Ownership

The top three institutional holders of COGT stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in COGT stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in COGT stock with ownership which is approximately 5.8325%.