Short Interest in Compugen Ltd. (NASDAQ:CGEN) Drops By 18.1%

Compugen Ltd. (NASDAQ:CGEN) was the target of a large decrease in short interest in the month of October. As of October 31st, there was short interest totalling 1,270,000 shares, a decrease of 18.1% from the October 15th total of 1,550,000 shares. Based on an average daily trading volume, of 225,400 shares, the days-to-cover ratio is currently 5.6 days.

Hedge Funds Weigh In On Compugen

Hedge funds have recently bought and sold shares of the company. Rothschild Investment LLC bought a new position in shares of Compugen during the second quarter valued at about $380,000. ARK Investment Management LLC lifted its position in shares of Compugen by 4.7% during the 2nd quarter. ARK Investment Management LLC now owns 1,088,271 shares of the biotechnology company’s stock worth $1,850,000 after buying an additional 48,979 shares in the last quarter. Squarepoint Ops LLC boosted its stake in shares of Compugen by 23.4% in the 2nd quarter. Squarepoint Ops LLC now owns 85,693 shares of the biotechnology company’s stock worth $144,000 after buying an additional 16,253 shares during the last quarter. Secure Asset Management LLC bought a new position in shares of Compugen in the second quarter valued at approximately $69,000. Finally, Joel Isaacson & Co. LLC increased its position in shares of Compugen by 136.4% during the third quarter. Joel Isaacson & Co. LLC now owns 52,000 shares of the biotechnology company’s stock valued at $94,000 after acquiring an additional 30,000 shares during the last quarter. 12.22% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Compugen from a “hold” rating to a “buy” rating in a report on Thursday, August 15th.

Compugen Price Performance

NASDAQ:CGEN opened at $1.41 on Friday. Compugen has a one year low of $0.61 and a one year high of $3.03. The company has a market cap of $125.82 million, a PE ratio of 70.50 and a beta of 2.64. The firm has a 50-day moving average of $1.75 and a 200-day moving average of $1.87.

Compugen (NASDAQ:CGEN) last issued its quarterly earnings data on Tuesday, November 12th. The biotechnology company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.20). The company had revenue of $17.13 million during the quarter, compared to analysts’ expectations of $17.67 million. Compugen had a return on equity of 2.62% and a net margin of 2.67%. During the same period last year, the company earned ($0.11) earnings per share. On average, equities research analysts expect that Compugen will post 0.07 earnings per share for the current fiscal year.

About Compugen

Compugen Ltd., a clinical-stage therapeutic discovery and development company, researches, develops, and commercializes therapeutic and product candidates in Israel, the United States, and Europe. The company’s immuno-oncology pipeline consists of COM701, an anti-PVRIG antibody that is in Phase I clinical study used for the treatment of solid tumors; COM902, a therapeutic antibody targeting TIGIT, which is in Phase I monotherapy clinical study in patients with advanced malignancies through sequential dose escalations; Bapotulimab, a therapeutic antibody targeting ILDR2 that is in Phase I clinical study in patients with naïve head and neck squamous cell carcinoma; and Rilvegostomig, a novel anti-TIGIT/PD-1 bispecific antibody, which is in Phase II clinical study in patients with advanced or metastatic non-small cell lung cancer.