Cogent Biosciences Inc. (NASDAQ:COGT) marked $11.99 per share on Thursday, up from a previous closing price of $10.65. While Cogent Biosciences Inc. has overperformed by 12.58%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, COGT rose by 81.39%, with highs and lows ranging from $12.08 to $3.79, whereas the simple moving average jumped by 52.86% in the last 200 days.
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On June 28, 2022, Guggenheim started tracking Cogent Biosciences Inc. (NASDAQ: COGT) recommending Buy. A report published by H.C. Wainwright on October 11, 2021, Initiated its previous ‘Buy’ rating for COGT. Jefferies also rated COGT shares as ‘Buy’, setting a target price of $20 on the company’s shares in an initiating report dated June 09, 2021. Piper Sandler Initiated an Overweight rating on December 23, 2020, and assigned a price target of $22. Ladenburg Thalmann initiated its ‘Buy’ rating for COGT, as published in its report on October 14, 2020.
Analysis of Cogent Biosciences Inc. (COGT)
In order to gain a clear picture of Cogent Biosciences Inc.’s future performance, a variety of well-rounded analysis and research techniques can be applied, with equity being the most critical. The goal here is to ensure that your current return on equity of -76.40% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 10.90, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
An average volume of 2.95M can be a very valuable indicator of volatility for COGT stock. On a monthly basis, the volatility of the stock is set at 7.96%, whereas on a weekly basis, it is put at 8.55%, with a gain of 6.29% over the past seven days. Furthermore, long-term investors anticipate a median target price of $19.50, showing growth from the present price of $11.99, which can serve as yet another indication of whether COGT is worth investing in or should be passed over.
How Do You Analyze Cogent Biosciences Inc. Shares?
In addition to the fundamentals, you should also consider how many employees own shares in the company. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 0.01%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 63.70% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in COGT shares?
The recent increase in stakes in COGT appears to be a result of several institutional investors and hedge funds increasing their positions. Deerfield Management Company LP’s position in COGT has increased by 267.07% in the first quarter. The company now owns 5,876,805 shares of the stock, with a value of $53.01 million, following the purchase of 4,275,805 additional shares during the last quarter. Eventide Asset Management LLC made another increased to its shares in COGT during the first quarter, upping its stake by 10.96%. During the last quarter, the company picked up 385,091 additional shares for a total stake of worth $35.18 million, bringing number of shares owned by the company to 3,900,000.
During the first quarter, Commodore Capital LP added a 1,219,453 position in COGT. Perceptive Advisors LLC sold an additional 0.0 shares in the last quarter, decreasing its holdings by 0.00%, now holding 3.19 million shares worth $28.76 million. At the end of the first quarter, Janus Henderson Investors US LLC increased its COGT holdings by 25.84% and now holds 3.17 million COGT shares valued at $28.55 million with the added 0.65 million shares during the period. COGT shares are owned by institutional investors to the tune of 63.70% at present.
