Compugen (NASDAQ:CGEN) Stock Price Passes Above 200 Day Moving Average – What’s Next?

Compugen Ltd. (NASDAQ:CGEN)’s stock price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $2.17 and traded as high as $2.44. Compugen shares last traded at $2.41, with a volume of 370,673 shares trading hands.

Analysts Set New Price Targets

Several brokerages have commented on CGEN. Weiss Ratings reissued a “sell (d-)” rating on shares of Compugen in a research note on Monday, April 20th. Lake Street Capital started coverage on shares of Compugen in a report on Tuesday, April 7th. They set a “buy” rating and a $6.00 price target on the stock. Leerink Partners decreased their price target on shares of Compugen from $13.00 to $5.00 and set an “outperform” rating on the stock in a report on Thursday, May 21st. Wall Street Zen cut shares of Compugen from a “buy” rating to a “hold” rating in a research report on Saturday, May 23rd. Finally, Truist Financial raised shares of Compugen to a “strong-buy” rating in a research note on Wednesday, March 25th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, Compugen has an average rating of “Moderate Buy” and an average price target of $5.00.

Compugen Price Performance

The firm has a 50-day simple moving average of $2.40 and a 200 day simple moving average of $2.18. The stock has a market capitalization of $225.97 million, a P/E ratio of 6.46 and a beta of 2.76.

Compugen (NASDAQ:CGEN) last released its quarterly earnings results on Monday, May 18th. The biotechnology company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.01). Compugen had a return on equity of 47.72% and a net margin of 47.97%.The firm had revenue of $2.18 million for the quarter, compared to the consensus estimate of $1.57 million. Sell-side analysts anticipate that Compugen Ltd. will post -0.28 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Compugen

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Glenmede Trust Co. NA raised its stake in shares of Compugen by 187.5% during the first quarter. Glenmede Trust Co. NA now owns 34,500 shares of the biotechnology company’s stock valued at $73,000 after acquiring an additional 22,500 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of Compugen by 12.1% in the first quarter. Renaissance Technologies LLC now owns 1,632,988 shares of the biotechnology company’s stock worth $3,478,000 after purchasing an additional 176,088 shares during the last quarter. Hillsdale Investment Management Inc. acquired a new stake in Compugen in the first quarter valued at $68,000. Calamos Advisors LLC acquired a new stake in Compugen in the first quarter valued at $63,000. Finally, Platform Technology Partners raised its position in Compugen by 10.0% during the 1st quarter. Platform Technology Partners now owns 55,000 shares of the biotechnology company’s stock worth $117,000 after purchasing an additional 5,000 shares during the last quarter. 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.