Compugen (NASDAQ:CGEN) Share Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Compugen Ltd. (NASDAQ:CGEN)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $1.63 and traded as high as $1.78. Compugen shares last traded at $1.71, with a volume of 183,552 shares.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CGEN. Wall Street Zen raised Compugen from a “sell” rating to a “hold” rating in a research report on Saturday, November 15th. HC Wainwright assumed coverage on shares of Compugen in a report on Wednesday, January 7th. They set a “buy” rating and a $4.00 target price on the stock. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Compugen in a research report on Wednesday, January 21st. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $4.00.

Compugen Stock Down 2.8%

The company has a market cap of $152.60 million, a P/E ratio of -5.70 and a beta of 2.86. The company has a 50 day moving average price of $1.74 and a 200-day moving average price of $1.63.

Compugen (NASDAQ:CGEN) last posted its quarterly earnings data on Monday, November 10th. The biotechnology company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $0.02. The business had revenue of $1.89 million during the quarter, compared to analysts’ expectations of $1.47 million. Compugen had a negative net margin of 400.10% and a negative return on equity of 53.60%. On average, research analysts expect that Compugen Ltd. will post -0.03 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. ARK Investment Management LLC grew its holdings in shares of Compugen by 20.6% in the 2nd quarter. ARK Investment Management LLC now owns 1,072,776 shares of the biotechnology company’s stock worth $1,785,000 after acquiring an additional 183,107 shares during the last quarter. Jane Street Group LLC boosted its position 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 period. Two Sigma Investments LP increased its stake in Compugen by 10.6% in the 3rd quarter. Two Sigma Investments LP now owns 197,875 shares of the biotechnology company’s stock worth $291,000 after purchasing an additional 18,929 shares in the last quarter. Raymond James Financial Inc. raised its holdings in Compugen by 51.0% during the 3rd quarter. Raymond James Financial Inc. now owns 101,256 shares of the biotechnology company’s stock worth $149,000 after buying an additional 34,215 shares during the period. Finally, WINTON GROUP Ltd acquired a new stake in Compugen during the 4th quarter worth about $84,000. Institutional investors and hedge funds own 12.22% of the company’s stock.

Compugen Company Profile

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.