Compugen (NASDAQ:CGEN) Share Price Crosses Above 200-Day Moving Average of $1.63

Compugen Ltd. (NASDAQ:CGEN)’s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $1.63 and traded as high as $2.25. Compugen shares last traded at $2.13, with a volume of 388,383 shares trading hands.

Analysts Set New Price Targets

Several research firms have recently issued reports on CGEN. StockNews.com upgraded Compugen from a “hold” rating to a “buy” rating in a report on Wednesday, March 6th. Stifel Nicolaus raised their price objective on Compugen from $3.00 to $4.00 and gave the stock a “buy” rating in a report on Tuesday, December 19th.

Compugen Stock Down 5.8 %

The stock has a market cap of $184.50 million, a price-to-earnings ratio of -9.68 and a beta of 2.63. The stock has a fifty day moving average of $2.48 and a two-hundred day moving average of $1.64.

Compugen (NASDAQ:CGEN) last issued its earnings results on Tuesday, March 5th. The biotechnology company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.01. The firm had revenue of $33.46 million during the quarter, compared to analyst estimates of $60.00 million. Equities research analysts anticipate that Compugen Ltd. will post 0.02 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Two Sigma Advisers LP raised its position in Compugen by 855.7% in the third quarter. Two Sigma Advisers LP now owns 1,344,584 shares of the biotechnology company’s stock valued at $883,000 after purchasing an additional 1,203,900 shares during the period. Renaissance Technologies LLC raised its position in Compugen by 82.5% in the third quarter. Renaissance Technologies LLC now owns 2,372,648 shares of the biotechnology company’s stock valued at $1,559,000 after purchasing an additional 1,072,576 shares during the period. Two Sigma Investments LP raised its position in Compugen by 200.4% in the third quarter. Two Sigma Investments LP now owns 1,518,059 shares of the biotechnology company’s stock valued at $997,000 after purchasing an additional 1,012,763 shares during the period. Silverarc Capital Management LLC purchased a new position in Compugen in the fourth quarter valued at about $478,000. Finally, UBS Group AG raised its position in Compugen by 132.3% in the first quarter. UBS Group AG now owns 409,037 shares of the biotechnology company’s stock valued at $1,318,000 after purchasing an additional 232,993 shares during the period. Institutional investors and hedge funds own 12.22% of the company’s stock.

Compugen Company Profile

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.