Cogent Biosciences Inc (COGT) Analysis & Forecast for 2024

Cogent Biosciences Inc (NASDAQ: COGT) is -1.53% lower on its value in year-to-date trading and has touched a low of $3.67 and a high of $14.50 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The COGT stock was last observed hovering at around $5.88 in the last trading session, with the day’s loss setting it -0.09%.

Currently trading at $5.79, the stock is 16.92% and 2.79% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.01 million and changing -1.53% at the moment leaves the stock -39.47% off its SMA200. COGT registered -60.04% loss for a year compared to 6-month loss of -51.75%. The firm has a 200-day simple moving average (SMA200) of -$2.62.

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The stock witnessed a 8.43% gain in the last 1 month and extending the period to 3 months gives it a -19.30%, and is 1.58% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 11.97% over the week and 9.08% over the month.

Distance from 52-week low is 57.77% and -60.07% from its 52-week high. The company has generated returns on investments over the last 12 months (-55.39%).

Cogent Biosciences Inc quarterly earnings per share for the current quarter are estimated at -$0.55.The EPS is expected to grow by 3.29% this year.

Cogent Biosciences Inc (COGT) Top Institutional Holders

200 institutions hold shares in Cogent Biosciences Inc (COGT), with institutional investors hold 112.49% of the company’s shares. The shares outstanding are 69.89M, and float is at 69.15M with Short Float at 7.29%. Institutions hold 112.31% of the Float.

The top institutional shareholder in the company is RA Capital Management, L.P. with over 6.42 million shares valued at $75.97 million. The investor’s holdings represent 7.51% of the COGT Shares outstanding. As of Jun 29, 2023, the second largest holder is Tcg Crossover Management, Llc with 5.63 million shares valued at $66.67 million to account for 6.59% of the shares outstanding. The other top investors are Commodore Capital Lp which holds 5.57 million shares representing 6.51% and valued at over $65.9 million, while Blackrock Inc. holds 6.41% of the shares totaling 5.48 million with a market value of $64.86 million.

Cogent Biosciences Inc (COGT) Insider Activity

A total of 0 insider transactions have happened at Cogent Biosciences Inc (COGT) in the last six months, with sales accounting for 0 and purchases happening 0 times. The most recent transaction is an insider purchase by Fairmount Funds Management LLC,the company’s10% Owner. SEC filings show that Fairmount Funds Management LLC bought 800,000 shares of the company’s common stock on Jun 09 at a price of $12.00 per share for a total of $9.6 million. Following the purchase, the insider now owns 3.27 million shares.