Compugen Ltd. (NASDAQ:CGEN) Short Interest Down 32.6% in August

Key Points

• Compugen Ltd. (NASDAQ:CGEN) experienced a 32.6% decrease in short interest in August, bringing the total to 903,300 shares.
• The stock price increased by 1.4% to $1.43 with a market capitalization of $127.61 million, despite reporting a quarterly earnings miss of ($0.08) EPS compared to analysts' expectations of ($0.07).
• Institutional investors have been active, with significant stake increases, including a 936.9% rise in Northern Trust Corp's position during the fourth quarter.

Compugen Ltd. (NASDAQ:CGEN - Get Free Report) saw a significant decrease in short interest in August. As of August 15th, there was short interest totaling 903,300 shares, a decrease of 32.6% from the July 31st total of 1,340,000 shares. Based on an average trading volume of 232,200 shares, the short-interest ratio is currently 3.9 days. Based on an average trading volume of 232,200 shares, the short-interest ratio is currently 3.9 days.

Compugen Trading Down 4.3%

Shares of CGEN traded down $0.06 during mid-day trading on Friday, hitting $1.34. 631,897 shares of the company's stock were exchanged, compared to its average volume of 382,149. Compugen has a fifty-two week low of $1.13 and a fifty-two week high of $2.66. The firm has a market capitalization of $119.58 million, a P/E ratio of -6.09 and a beta of 2.58. The business's 50 day moving average is $1.50 and its two-hundred day moving average is $1.52.

Compugen (NASDAQ:CGEN - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The biotechnology company reported ($0.08) EPS for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.01). The firm had revenue of $1.26 million during the quarter, compared to analyst estimates of $3.95 million. Compugen had a negative net margin of 87.45% and a negative return on equity of 34.77%. On average, equities research analysts forecast that Compugen will post -0.03 earnings per share for the current year.

Institutional Investors Weigh In On Compugen

A number of hedge funds have recently added to or reduced their stakes in the company. Osaic Holdings Inc. lifted its position in Compugen by 346.0% in the second quarter. Osaic Holdings Inc. now owns 43,885 shares of the biotechnology company's stock valued at $78,000 after purchasing an additional 34,045 shares during the period. Jane Street Group LLC lifted its position in Compugen by 1,077.0% in the second 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. Franklin Resources Inc. acquired a new stake in Compugen in the second quarter valued at about $56,000. R Squared Ltd acquired a new stake in Compugen in the second quarter valued at about $71,000. Finally, ARK Investment Management LLC lifted its position in Compugen by 20.6% in the second quarter. ARK Investment Management LLC now owns 1,072,776 shares of the biotechnology company's stock valued at $1,785,000 after purchasing an additional 183,107 shares during the period. Institutional investors and hedge funds own 12.22% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen downgraded shares of Compugen from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $4.00.

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.