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

Compugen Ltd. (NASDAQ:CGEN) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $1.76 and traded as high as $2.34. Compugen shares last traded at $2.29, with a volume of 337,211 shares traded.

Analyst Upgrades and Downgrades

Separately, Oppenheimer assumed coverage on Compugen in a research note on Monday, January 13th. They set an “outperform” rating and a $4.00 price objective on the stock.

Compugen Stock Performance

The firm has a 50 day simple moving average of $1.72 and a two-hundred day simple moving average of $1.76. The firm has a market capitalization of $204.36 million, a P/E ratio of 114.50 and a beta of 2.59.

Compugen (NASDAQ:CGEN) last issued its quarterly earnings data on Tuesday, November 12th. The biotechnology company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.20). The company had revenue of $17.13 million for the quarter, compared to the consensus estimate of $17.67 million. Compugen had a net margin of 2.67% and a return on equity of 2.62%. During the same quarter last year, the business posted ($0.11) earnings per share. Sell-side analysts anticipate that Compugen Ltd. will post -0.03 earnings per share for the current year.

Institutional Investors Weigh In On Compugen

A number of hedge funds have recently made changes to their positions in CGEN. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Compugen by 82.7% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 274,335 shares of the biotechnology company’s stock worth $497,000 after purchasing an additional 124,190 shares during the period. Atom Investors LP raised its stake in shares of Compugen by 27.5% during the 3rd quarter. Atom Investors LP now owns 151,816 shares of the biotechnology company’s stock worth $275,000 after purchasing an additional 32,701 shares during the period. Joel Isaacson & Co. LLC raised its stake in shares of Compugen by 136.4% during the 3rd quarter. Joel Isaacson & Co. LLC now owns 52,000 shares of the biotechnology company’s stock worth $94,000 after purchasing an additional 30,000 shares during the period. Squarepoint Ops LLC increased its holdings in 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 acquiring an additional 16,253 shares during the last quarter. Finally, Oppenheimer & Co. Inc. increased its holdings in Compugen by 75.9% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 19,350 shares of the biotechnology company’s stock worth $35,000 after acquiring an additional 8,350 shares during the last quarter. 12.22% of the stock is currently owned by institutional investors.

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.