Cogent Biosciences, Inc. (NASDAQ:COGT – Get Rating) – Equities researchers at SVB Leerink dropped their Q1 2023 EPS estimates for Cogent Biosciences in a note issued to investors on Tuesday, March 14th. SVB Leerink analyst C. Liu now forecasts that the technology company will post earnings per share of ($0.67) for the quarter, down from their previous estimate of ($0.62). SVB Leerink has a "Outperform" rating and a $20.00 price target on the stock. The consensus estimate for Cogent Biosciences' current full-year earnings is ($2.15) per share. SVB Leerink also issued estimates for Cogent Biosciences' Q2 2023 earnings at ($0.73) EPS, Q3 2023 earnings at ($0.79) EPS, Q4 2023 earnings at ($0.78) EPS, FY2023 earnings at ($2.97) EPS, FY2024 earnings at ($3.10) EPS, FY2025 earnings at ($3.53) EPS and FY2026 earnings at ($0.14) EPS.

Several other equities research analysts have also recently weighed in on the stock. Guggenheim reiterated a "buy" rating and issued a $26.00 target price on shares of Cogent Biosciences in a research note on Wednesday. Needham & Company LLC lowered their target price on Cogent Biosciences from $24.00 to $23.00 and set a "buy" rating for the company in a research note on Wednesday.

Cogent Biosciences Stock Performance

Cogent Biosciences stock opened at $11.46 on Friday. The firm has a market capitalization of $525.10 million, a PE ratio of -4.68 and a beta of 1.75. The business's 50-day simple moving average is $13.36 and its 200-day simple moving average is $13.25. Cogent Biosciences has a 52 week low of $3.79 and a 52 week high of $18.07.

Hedge Funds Weigh In On Cogent Biosciences

A number of hedge funds and other institutional investors have recently made changes to their positions in COGT. US Bancorp DE increased its stake in Cogent Biosciences by 70.9% during the 3rd quarter. US Bancorp DE now owns 2,224 shares of the technology company's stock worth $33,000 after purchasing an additional 923 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Cogent Biosciences by 10.1% during the fourth 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 increased 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 purchasing an additional 1,218 shares during the last quarter. ProShare Advisors LLC boosted its holdings in shares of Cogent Biosciences by 11.4% in the 4th quarter. ProShare Advisors LLC now owns 14,018 shares of the technology company's stock valued at $162,000 after buying an additional 1,430 shares during the last quarter. Finally, American International Group Inc. lifted its position in shares of Cogent Biosciences by 13.2% in the second quarter. American International Group Inc. now owns 20,877 shares of the technology company's stock valued at $188,000 after buying an additional 2,429 shares during 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.

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