Fintel reports that on September 19, 2023, Needham reiterated coverage of Cogent Biosciences (NASDAQ:COGT) with a Buy recommendation.
Analyst Price Forecast Suggests 110.19% Upside
As of August 31, 2023, the average one-year price target for Cogent Biosciences is 22.55. The forecasts range from a low of 18.18 to a high of $28.35. The average price target represents an increase of 110.19% from its latest reported closing price of 10.73.
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The projected annual revenue for Cogent Biosciences is 0MM, a decrease of NaN%. The projected annual non-GAAP EPS is -2.12.
What is the Fund Sentiment?
There are 285 funds or institutions reporting positions in Cogent Biosciences. This is an increase of 4 owner(s) or 1.42% in the last quarter. Average portfolio weight of all funds dedicated to COGT is 0.28%, an increase of 15.26%. Total shares owned by institutions increased in the last three months by 16.55% to 94,020K shares. 
The put/call ratio of COGT is 0.20, indicating a bullish outlook.
What are Other Shareholders Doing?
Ra Capital Management holds 6,416K shares representing 7.51% ownership of the company. In it's prior filing, the firm reported owning 5,999K shares, representing an increase of 6.49%. The firm decreased its portfolio allocation in COGT by 2.12% over the last quarter.
TCG Crossover Management holds 5,631K shares representing 6.59% ownership of the company. In it's prior filing, the firm reported owning 3,631K shares, representing an increase of 35.52%. The firm increased its portfolio allocation in COGT by 43.17% over the last quarter.
Commodore Capital holds 5,566K shares representing 6.51% ownership of the company. In it's prior filing, the firm reported owning 4,772K shares, representing an increase of 14.26%. The firm decreased its portfolio allocation in COGT by 5.53% over the last quarter.
Point72 Asset Management holds 4,685K shares representing 5.48% ownership of the company. In it's prior filing, the firm reported owning 2,237K shares, representing an increase of 52.26%. The firm increased its portfolio allocation in COGT by 120.70% over the last quarter.
VR Adviser holds 4,684K shares representing 5.48% ownership of the company. In it's prior filing, the firm reported owning 4,885K shares, representing a decrease of 4.29%. The firm decreased its portfolio allocation in COGT by 13.83% over the last quarter.
Cogent Biosciences Background Information
(This description is provided by the company.)
Cogent Biosciences is a biotechnology company focused on developing precision therapies for genetically defined diseases. The most advanced clinical program, PLX9486, is a selective tyrosine kinase inhibitor that is designed to potently inhibit the KIT D816V mutation as well as other mutations in KIT exon 17. KIT D816V is responsible for driving systemic mastocytosis, a serious disease caused by unchecked proliferation of mast cells. Exon 17 mutations are also found in patients with advanced gastrointestinal stromal tumors (GIST), a type of cancer with strong dependence on oncogenic KIT signaling. Cogent Biosciences is headquartered in Cambridge, MA.
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