Cogent Biosciences Inc (NASDAQ:COGT) shares, rose in value, with the stock price up by 1.44% to the previous day’s close as strong demand from buyers drove the stock to $11.25.
Actively observing the price movement in the last trading, the stock closed the session at $11.09, falling within a range of $10.93 and $11.5. The value of beta (5-year monthly) was 0.028. Referring to stock’s 52-week performance, its high was $12.14, and the low was $3.67. On the whole, COGT has fluctuated by 9.54% over the past month.
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With the market capitalization of Cogent Biosciences Inc currently standing at about $1.23 billion, investors are eagerly awaiting this quarter’s results, scheduled for on 2024-Oct-31.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that COGT’s technical picture suggests that short-term indicators denote the stock is a 100% Buy on average. However, medium-term indicators have put the stock in the category of 100% Buy while long-term indicators on average have been pointing out that it is a 100% Buy.
The stock’s technical analysis shows that the price of COGT currently trading nearly 3.83% and 9.51% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 59.67, while the 7-day volatility ratio is showing 5.15% which for the 30-day chart, stands at 4.43%. Furthermore, Cogent Biosciences Inc (COGT)’s beta value is 1.73, and its average true range (ATR) is 0.53.
A comparison of Cogent Biosciences Inc (COGT) with its peers suggests the former has fared considerably weaker in the market. COGT showed an intraday change of 1.44% in last session, and over the past year, it grew by 15.62%%.
Data on historical trading for Cogent Biosciences Inc (NASDAQ:COGT) indicates that the trading volumes over the past 10 days have averaged 0.89 and over the past 3 months, they’ve averaged 834.92K. According to company’s latest data on outstanding shares, there are 86.12 million shares outstanding.
Nearly 21.37% of Cogent Biosciences Inc’s shares belong to company insiders and institutional investors own 90.07% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 8.3 million shares as on 2024-09-30, resulting in a short ratio of 8.42. According to the data, the short interest in Cogent Biosciences Inc (COGT) stood at 840.00 of shares outstanding as of 2024-09-30; the number of short shares registered in 2024-08-30 reached 10.25 million. The stock has risen by 91.33% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the COGT stock heading into the next quarter.
