Cogent Biosciences Inc. (NASDAQ:COGT) finished Thursday with an addition of $0.19 to close at $12.02, an upside of 1.61 percent. An average of 1,479,920 shares of common stock have been traded in the last five days. There was a fall of -$0.08 in the past week, and it reached a new high 6 times over the past 12 months. The last 20 days have seen an average of 749,225 shares traded, while the 50-day average volume stands at 791,748.
COGT stock has decreased by -5.13% in the last month. The company shares reached their 1-month lowest point of $10.37 on 08/08/23. With the stock rallying to its 52-week high on 02/03/23, shares of the company touched a low of $9.65 and a high of $18.07 in 52 weeks. It has reached a new high 12 times so far this year and achieved 3.98% or $0.46 in price. In spite of this, the price is down -33.48% from the 52-week high.
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Valuation Metrics
Cogent Biosciences Inc. (COGT) stock’s beta is 1.69. Other valuation ratios to consider include the price-to-book (PB) ratio at 5.27.
Financial Health
The quick ratio of Cogent Biosciences Inc. for the three months ended June 29 was 10.70, and the current ratio was 10.70, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.00 and a total debt to equity ratio of 0.00 for the quarter ending June 29. Its gross profit as reported stood at $147.84 million.
For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Cogent Biosciences Inc.’s return on assets was -47.00%.
Earnings Surprise
For the three-month period that ended June 29, Cogent Biosciences Inc. had $115.08 million in cash. The company posted a net income of -$44.08 million in the quarter, while revenues of -$38.59 million were grew 20.76%. The analyst consensus anticipated Cogent Biosciences Inc.’s latest quarter earnings to come in at -$0.54 per share, but it turned out to be -$0.59, a -9.30% surprise. At the end of the quarter ending June 29, Cogent Biosciences Inc.’s stock balance sheet showed total liabilities of 43.94 million. Shareholders own equity worth $85.47 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Cogent Biosciences Inc. (COGT) price momentum. RSI 9-day as of the close on 10 August was 48.26%, suggesting the stock is Neutral, with historical volatility in this time frame at 66.72%.
As of today, COGT’s price is $11.65 -0.66% or -$0.08 from its 5-day moving average. COGT is currently trading -2.59% lower than its 20-day SMA and +4.89% higher than its 100-day SMA. However, the stock’s current price level is +5.53% above the SMA50 and -14.14% below the SMA200.
The stochastic %K and %D were 51.39% and 35.48%, respectively, and the average true range (ATR) was 0.67. With the 14-day stochastic at 55.18% and the average true range at 0.63, the RSI (14) stands at 48.42%. The stock has reached -0.23 on the 9-day MACD Oscillator while the 14-day reading was at -0.31.
Analyst Ratings
Robert W. Baird launched coverage on Cogent Biosciences Inc. (NASDAQ: COGT) in its analyst report released on April 28, 2023. The firm assigned the stock an Outperform rating. The consensus rating for Cogent Biosciences Inc. (COGT) among analysts is Buy. According to current brokerage recommendations, 0 brokerage firms advise that investors sell COGT, while 0 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 1 analysts, while 8 others rate it as a “buy”.
What is COGT’s price target for the next 12 months?
Analysts predict a range of price targets between $18.00 and $27.00, with a median target of $22.00. Taking a look at these predictions, the average price target given by analysts for Cogent Biosciences Inc. (COGT) stock is $22.11.
