Cogent Biosciences (NASDAQ:COGT) Given Buy Rating at Guggenheim

Guggenheim reissued their buy rating on shares of Cogent Biosciences (NASDAQ:COGT – Get Rating) in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a $26.00 price target on the technology company’s stock.

COGT has been the topic of a number of other reports. SVB Leerink upped their target price on shares of Cogent Biosciences from $18.00 to $20.00 and gave the company an outperform rating in a report on Thursday, January 5th. Needham & Company LLC lowered their price target on shares of Cogent Biosciences from $24.00 to $23.00 and set a buy rating on the stock in a report on Wednesday. Finally, Wedbush lowered their price target on shares of Cogent Biosciences to $19.00 in a report on Wednesday, November 16th.

Cogent Biosciences Stock Down 2.6 %

Shares of COGT stock opened at $11.46 on Wednesday. The firm’s 50-day moving average is $13.36 and its 200-day moving average is $13.23. Cogent Biosciences has a 52-week low of $3.79 and a 52-week high of $18.07.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. US Bancorp DE increased its holdings in shares of Cogent Biosciences by 70.9% during the third quarter. US Bancorp DE now owns 2,224 shares of the technology company’s stock worth $33,000 after purchasing an additional 923 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Cogent Biosciences by 10.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 11,122 shares of the technology company’s stock worth $129,000 after acquiring an additional 1,018 shares in the last quarter. Metropolitan Life Insurance Co NY boosted its position in shares of Cogent Biosciences by 46.2% during the 3rd quarter. Metropolitan Life Insurance Co NY now owns 3,857 shares of the technology company’s stock worth $58,000 after acquiring an additional 1,218 shares in the last quarter. ProShare Advisors LLC boosted its position in shares of Cogent Biosciences by 11.4% during the 4th quarter. ProShare Advisors LLC now owns 14,018 shares of the technology company’s stock worth $162,000 after acquiring an additional 1,430 shares in the last quarter. Finally, American International Group Inc. boosted its position in shares of Cogent Biosciences by 13.2% during the 2nd quarter. American International Group Inc. now owns 20,877 shares of the technology company’s stock worth $188,000 after acquiring an additional 2,429 shares in the last quarter.

About Cogent Biosciences

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Cogent Biosciences, Inc is a clinical-stage biopharmaceutical company, which engages in the development and commercialization of precision therapies for genetically defined diseases. It focuses on CGT9486, a selective tyrosine kinase inhibitor that is designed to potently inhibit the KIT D816V mutation as well as other mutations in KIT exon 17.