Compugen (NASDAQ:CGEN) Stock Passes Above 200-Day Moving Average – Here’s Why

Compugen Ltd. (NASDAQ:CGEN) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $1.64 and traded as high as $1.80. Compugen shares last traded at $1.79, with a volume of 238,976 shares changing hands.

Analyst Upgrades and Downgrades

CGEN has been the topic of a number of recent research reports. HC Wainwright began coverage on shares of Compugen in a research note on Wednesday, January 7th. They set a “buy” rating and a $4.00 target price on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Compugen in a research note on Wednesday, January 21st. Finally, Wall Street Zen upgraded shares of Compugen from a “sell” rating to a “hold” rating in a report on Saturday, November 15th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Compugen currently has an average rating of “Hold” and an average price target of $4.00.

Compugen Stock Performance

The firm has a 50 day moving average of $1.76 and a two-hundred day moving average of $1.64.

Institutional Investors Weigh In On Compugen

Several hedge funds and other institutional investors have recently bought and sold shares of CGEN. R Squared Ltd purchased a new stake in Compugen in the second quarter valued at $71,000. Franklin Resources Inc. acquired a new stake in shares of Compugen during the second quarter worth about $56,000. Jane Street Group LLC lifted its holdings in shares of Compugen by 1,077.0% in the 2nd quarter. Jane Street Group LLC now owns 393,191 shares of the biotechnology company’s stock valued at $700,000 after purchasing an additional 359,785 shares during the last quarter. Osaic Holdings Inc. lifted its holdings in shares of Compugen by 346.0% in the 2nd quarter. Osaic Holdings Inc. now owns 43,885 shares of the biotechnology company’s stock valued at $78,000 after purchasing an additional 34,045 shares during the last quarter. Finally, Two Sigma Investments LP boosted its position in shares of Compugen by 10.6% in the 3rd quarter. Two Sigma Investments LP now owns 197,875 shares of the biotechnology company’s stock valued at $291,000 after purchasing an additional 18,929 shares during the period. 12.22% of the stock is currently owned by institutional investors and hedge funds.

About Compugen

Compugen Ltd. (NASDAQ: CGEN) is a clinical-stage therapeutic discovery company that leverages proprietary computational discovery platforms to identify novel immuno-oncology targets and biomarkers. The company combines large-scale biological datasets with machine learning algorithms to generate and validate new therapeutic and diagnostic candidates. Founded in 1993 and headquartered in Tel Aviv, Israel, Compugen also maintains a presence in the United States to support its clinical development and commercial collaborations.

Compugen’s predictive discovery engine scans complex biological systems in silico to reveal previously unrecognized pathways and immune checkpoints involved in cancer progression.