Cogent Biosciences Inc (NASDAQ:COGT) price on current trading day, rose 5.31% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $11.11.
A look at the stock’s price movement, the close in the last trading session was $10.55, moving within a range at $10.69 and $11.14. The beta value (5-Year monthly) was 0.028. Turning to its 52-week performance, $12.14 and $3.67 were the 52-week high and 52-week low respectively. Overall, COGT moved -1.16% over the past month.
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Cogent Biosciences Inc’s market cap currently stands at around $1.22 billion, with investors looking forward to this quarter’s earnings report slated for on 2024-Oct-31.
Turning to the stock’s technical picture we see that short term indicators suggest on average that COGT is a 100% Buy. On the other hand, the stock is on average a 100% Buy as suggested by medium term indicators while long term indicators are putting the stock in 100% Buy category.
4 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 0 analyst(s) rate the stock as a Hold, 4 recommend COGT as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
COGT’s current price about 3.56% and 10.17% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 58.79, while 7-day volatility ratio is 4.58% and 4.63% in the 30-day chart. Further, Cogent Biosciences Inc (COGT) has a beta value of 1.74, and an average true range (ATR) of 0.52. Analysts have given the company’s stock an average 52-week price target of $18.5, forecast between a low of $15 and high of $24. Looking at the price targets, the low is -35.01% off current price level while to achieve the yearly target high, price needs to move -116.02%. Nonetheless, investors will most likely welcome a -66.52% jump to $18.5 which is the analysts’ median price.
If we refocus on Cogent Biosciences Inc (NASDAQ:COGT), historical trading data shows that trading volumes averaged 1.02 over the past 10 days and 822.08K over the past 3 months. The company’s latest data on shares outstanding shows there are 86.12 million shares.
The 21.37% of Cogent Biosciences Inc’s shares are in the hands of company insiders while institutional holders own 90.07% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 9.73 million on 2024-09-13, giving us a short ratio of 10.02. The data shows that as of 2024-09-13 short interest in Cogent Biosciences Inc (COGT) stood at 984.0000399999999 of shares outstanding, with shares short falling to 10.23 million registered in 2024-08-15. Current price change has pushed the stock 88.95% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the COGT stock continues to rise going into the next quarter.
