Leerink Partnrs Analysts Decrease Earnings Estimates for Cogent Biosciences, Inc. (NASDAQ:COGT)

Cogent Biosciences, Inc. (NASDAQ:COGT) – Analysts at Leerink Partnrs cut their FY2027 earnings per share estimates for shares of Cogent Biosciences in a research note issued on Tuesday, August 6th. Leerink Partnrs analyst A. Berens now anticipates that the technology company will post earnings of $0.61 per share for the year, down from their prior estimate of $0.68. The consensus estimate for Cogent Biosciences’ current full-year earnings is ($2.19) per share.

COGT has been the subject of a number of other research reports. JPMorgan Chase & Co. decreased their target price on shares of Cogent Biosciences from $22.00 to $19.00 and set an “overweight” rating for the company in a research report on Wednesday. Wedbush reissued a “neutral” rating and issued a $10.00 price objective on shares of Cogent Biosciences in a research report on Tuesday. Needham & Company LLC restated a “buy” rating and set a $18.00 target price on shares of Cogent Biosciences in a research report on Wednesday. Finally, HC Wainwright restated a “buy” rating and set a $19.00 price target on shares of Cogent Biosciences in a report on Monday, June 17th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $14.50.

Cogent Biosciences Stock Up 0.3 %

NASDAQ COGT opened at $8.66 on Thursday. The company has a market capitalization of $828.01 million, a price-to-earnings ratio of -3.48 and a beta of 1.71. Cogent Biosciences has a twelve month low of $3.67 and a twelve month high of $13.23. The stock has a fifty day simple moving average of $8.79 and a 200 day simple moving average of $7.49.

Cogent Biosciences (NASDAQ:COGT) last posted its earnings results on Tuesday, August 6th. The technology company reported ($0.59) EPS for the quarter, missing the consensus estimate of ($0.56) by ($0.03). During the same quarter in the previous year, the company posted ($0.59) earnings per share.

Institutional Trading of Cogent Biosciences

A number of large investors have recently bought and sold shares of the company. Kynam Capital Management LP raised its stake in shares of Cogent Biosciences by 164.9% during the 4th quarter. Kynam Capital Management LP now owns 5,854,766 shares of the technology company’s stock valued at $34,426,000 after purchasing an additional 3,644,641 shares during the period. Janus Henderson Group PLC grew its holdings in Cogent Biosciences by 12,785.8% during the 1st quarter. Janus Henderson Group PLC now owns 2,099,357 shares of the technology company’s stock valued at $14,097,000 after buying an additional 2,083,065 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Cogent Biosciences by 27.1% during the first quarter. Vanguard Group Inc. now owns 5,765,705 shares of the technology company’s stock valued at $38,746,000 after buying an additional 1,231,050 shares during the period. Redmile Group LLC lifted its holdings in shares of Cogent Biosciences by 36.0% in the first quarter. Redmile Group LLC now owns 3,962,602 shares of the technology company’s stock worth $26,629,000 after buying an additional 1,048,580 shares in the last quarter. Finally, Frazier Life Sciences Management L.P. boosted its position in shares of Cogent Biosciences by 32.9% in the fourth quarter. Frazier Life Sciences Management L.P. now owns 1,995,267 shares of the technology company’s stock valued at $11,732,000 after acquiring an additional 493,884 shares during the period.

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.