Cogent Biosciences Inc (NASDAQ: COGT) stock jumped 8.13% on Friday to $7.98 against a previous-day closing price of $7.38. With 1.15 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.79 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $8.05 whereas the lowest price it dropped to was $7.36. The 52-week range on COGT shows that it touched its highest point at $15.68 and its lowest point at $6.48 during that stretch. It currently has a 1-year price target of $22.11. Beta for the stock currently stands at 1.58.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of COGT was up-trending over the past week, with a rise of 15.65%, but this was down by -11.23% over a month. Three-month performance dropped to -33.22% while six-month performance fell -28.81%. The stock lost -28.24% in the past year, while it has lost -30.97% so far this year. A look at the trailing 12-month EPS for COGT yields -2.34 with Next year EPS estimates of -2.13. For the next quarter, that number is -0.55. This implies an EPS growth rate of 3.77% for this year and 7.39% for next year.
Float and Shares Shorts:
At present, 69.89 million COGT shares are outstanding with a float of 69.01 million shares on hand for trading. On Oct 30, 2023, short shares totaled 6.45 million, which was 7.48% higher than short shares on Sep 28, 2023. In addition to COST as the firm’s Costco Wholesale Corporation, CORT serves as its Corcept Therapeutics Incorporat.
Through their ownership of 112.11% of COGT’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 58.26% of COGT, in contrast to 30.69% held by mutual funds. Shares owned by individuals account for 3.23%. As the largest shareholder in COGT with 7.51% of the stake, RA Capital Management LP holds 6,416,147 shares worth 6,416,147. A second-largest stockholder of COGT, BlackRock Fund Advisors, holds 5,575,727 shares, controlling over 6.52% of the firm’s shares. Commodore Capital LP is the third largest shareholder in COGT, holding 5,566,026 shares or 6.51% stake. With a 4.03% stake in COGT, the Eventide Healthcare & Life Scienc is the largest stakeholder. A total of 3,440,796 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 2.99% of COGT stock, is the second-largest Mutual Fund holder. It holds 2,552,205 shares valued at 20.83 million. iShares Russell 2000 ETF holds 2.19% of the stake in COGT, owning 1,868,376 shares worth 15.25 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for COGT since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With COGT analysts setting a high price target of $27.00 and a low target of $18.00, the average target price over the next 12 months is $22.11. Based on these targets, COGT could surge 238.35% to reach the target high and rise by 125.56% to reach the target low. Reaching the average price target will result in a growth of 177.07% from current levels.
Summary of Insider Activity:
Insiders traded COGT stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has remained unchanged to 0 while that of sell transactions has remained unmoved to 0 over the past year. The total number of shares bought during that period was 0 while 0 shares were sold.