Is Cogent Biosciences Inc (COGT) Stock About to Get Hot Friday?

Overall market sentiment has been down on Cogent Biosciences Inc (COGT) stock lately. COGT receives a Bearish rating from InvestorsObserver Stock Sentiment Indicator.

Cogent Biosciences Inc has a Bearish sentiment reading. Find out what this means for you and get the rest of the rankings on COGT!

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What is Stock Sentiment?

When making investment decisions, sentiment gives a good overview of what stocks investors currently favor. Sentiment incorporates short-term technical analysis into its score and does not encompass any fundamental analysis such as profitability of the company. This means that earnings updates and other news can greatly impact overall sentiment. Changes in price are generally the best indicator of sentiment for a particular stock. At its core, a stock's trend indicates whether current market sentiment is bullish or bearish. Investors must be bullish if a stock is trending upward, and are bearish if a stock is moving down. InvestorsObserver's Sentiment Indicator factors in both price changes and variations in volume. An increase in volume usually means a current trend is stengthening, while a drop in volume tends to signal a reversal to the ongoing trend. Our system also uses the options market in order to receive additional signals on current sentiments. We take into account the ratio of calls and puts for a stock since options allow an investor to bet on future changes in price.

What's Happening With COGT Stock Today?

Cogent Biosciences Inc (COGT) stock is trading at $8.54 as of 12:30 PM on Friday, Oct 27, a drop of -$0.27, or -3.06% from the previous closing price of $8.81. The stock has traded between $8.53 and $8.90 so far today. Volume today is low. So far 164,090 shares have traded compared to average volume of 805,060 shares. To see InvestorsObserver's Sentiment Score for Cogent Biosciences Inc click here.

More About Cogent Biosciences Inc

Cogent Biosciences Inc a biotechnology company focused on developing precision therapies for genetically defined diseases. It designs rational precision therapies that treat the underlying cause of disease and improve the lives of patients. Its program CGT9486, is a selective tyrosine kinase inhibitor designed to potently inhibit the KIT D816V mutation as well as other mutations in KIT exon 17. In the vast majority of cases, KIT D816V is responsible for driving Systemic Mastocytosis (SM), a serious disease caused by unchecked proliferation of mast cells. Exon 17 mutations are also found in patients with advanced gastrointestinal stromal tumors (GIST), a type of cancer with strong dependence on oncogenic KIT signaling. Click Here to get the full Stock Report for Cogent Biosciences Inc stock.