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Cogent Biosciences Inc: Analyzing The COGT Stock

Cogent Biosciences Inc (NASDAQ:COGT) price closed lower on Monday, February 12, dropping -1.53% below its previous close.

A look at the daily price movement shows that the last close reads $5.88. The company’s 5Y monthly beta was ticking -0.29. Taking into account the 52-week price action we note that the stock hit a 52-week high of $14.50 and 52-week low of $3.67. The stock added 8.43% on its value in the past month.

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Cogent Biosciences Inc, which has a market valuation of $498.63 million, is expected to release its quarterly earnings report Mar 12, 2024 – Mar 18, 2024. Analysts tracking COGT have forecast the quarterly EPS to shrink by -0.55 per share this quarter, while the same analysts predict the annual EPS to hit -$2.3 for the year 2024 and up to -$2.1 for 2024. In this case, analysts estimate an annual EPS growth of 3.80% for the year and 8.70% for the next year.

Revisions to the company’s EPS highlights a short term direction of a stock’s price movement, which in the last 7 days came up with no upward and no downward reviews. On the technical perspective front, indicators give COGT a short term outlook of 50% Sell on average. Looking at the stock’s medium term indicators we note that it is averaging as a 50% Sell, while an average of long term indicators are currently assigning the stock as 100% Sell.

The overview shows that COGT’s price is at present 16.92% off the SMA20 and 2.79% from the SMA50. The Relative Strength Index (RSI) metric on the 14-day timeframe is pointing at 56.35, with weekly volatility standing at 11.97%. The indicator jumps to 9.08% when calculated based on the past 30 days. Cogent Biosciences Inc (NASDAQ:COGT)’s beta value is holding at 1.45, while the average true range (ATR) indicator is currently reading 0.52.

An analysis of the Cogent Biosciences Inc (NASDAQ:COGT) stock in terms of its daily trading volume indicates that the 3-month average is 1.01. However, this figure increases on the past 10-day timeline to an average of 1.87 million.

Current records show that the company has 69.89M in outstanding shares. The insiders’ percentage holdings are 19.71% of outstanding shares while the percentage share held by institutions stands at 93.31%. The stats also highlight that short interest as of Jan 31, 2024, stood at 5.04 million shares, which puts the short ratio at the time at 3.23. From this we can glean that short interest is 5.85% of company’s current outstanding shares. Notably, we see that shares short in January fall slightly given the previous month’s figure stood at 5.7 million. But the -1.53% downside, the stock’s price has registered year-to-date as of last trading, will likely reignite investor interest given the prospect of it rallying even higher.