Research Analysts Offer Predictions for COGT FY2024 Earnings

Cogent Biosciences, Inc. (NASDAQ:COGT) – Research analysts at Lifesci Capital dropped their FY2024 EPS estimates for Cogent Biosciences in a research note issued to investors on Wednesday, November 13th. Lifesci Capital analyst S. Slutsky now anticipates that the technology company will post earnings of ($2.29) per share for the year, down from their prior forecast of ($2.26). The consensus estimate for Cogent Biosciences’ current full-year earnings is ($2.29) per share. Lifesci Capital also issued estimates for Cogent Biosciences’ Q4 2024 earnings at ($0.61) EPS.

Cogent Biosciences (NASDAQ:COGT) last issued its quarterly earnings results on Tuesday, November 12th. The technology company reported ($0.64) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.57) by ($0.07). During the same quarter in the prior year, the business posted ($0.64) earnings per share.

Other equities analysts have also recently issued research reports about the stock. Wedbush reaffirmed a “neutral” rating and issued a $11.00 price objective on shares of Cogent Biosciences in a research note on Tuesday. Needham & Company LLC decreased their price target on shares of Cogent Biosciences from $16.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday. Robert W. Baird increased their price objective on Cogent Biosciences from $8.00 to $10.00 and gave the company a “neutral” rating in a research report on Thursday, September 5th. HC Wainwright restated a “buy” rating and issued a $17.00 target price on shares of Cogent Biosciences in a report on Monday, November 4th. Finally, JPMorgan Chase & Co. boosted their target price on Cogent Biosciences from $19.00 to $21.00 and gave the stock an “overweight” rating in a research report on Thursday. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $14.83.

Cogent Biosciences Stock Down 7.8 %

Shares of COGT stock opened at $8.90 on Friday. The stock has a 50-day simple moving average of $10.99 and a 200 day simple moving average of $9.55. Cogent Biosciences has a fifty-two week low of $3.67 and a fifty-two week high of $12.61. The stock has a market capitalization of $974.11 million, a P/E ratio of -3.59 and a beta of 1.72.

Institutional Trading of Cogent Biosciences

A number of hedge funds have recently modified their holdings of the business. Values First Advisors Inc. acquired a new stake in shares of Cogent Biosciences during the third quarter worth approximately $32,000. Mirae Asset Global Investments Co. Ltd. increased its position in Cogent Biosciences by 38.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,959 shares of the technology company’s stock worth $43,000 after buying an additional 1,104 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Cogent Biosciences by 234.5% during the 1st quarter. Russell Investments Group Ltd. now owns 10,014 shares of the technology company’s stock valued at $67,000 after acquiring an additional 7,020 shares during the last quarter. nVerses Capital LLC bought a new position in shares of Cogent Biosciences in the third quarter valued at approximately $76,000. Finally, Quest Partners LLC bought a new position in Cogent Biosciences in the 2nd quarter worth $89,000.

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.