Compugen Ltd. (NASDAQ:CGEN) Sees Significant Drop in Short Interest

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) was the recipient of a significant decrease in short interest in August. As of August 15th, there was short interest totaling 903,300 shares, adecreaseof32.6% from the July 31st total of 1,340,000 shares. Based on an average daily trading volume, of 232,200 shares, the days-to-cover ratio is presently 3.9 days. Based on an average daily trading volume, of 232,200 shares, the days-to-cover ratio is presently 3.9 days.

Compugen Stock Up 1.4%

Shares of NASDAQ:CGEN traded up $0.02 during trading on Friday, hitting $1.43. 174,413 shares of the company traded hands, compared to its average volume of 197,672. The stock has a market capitalization of $127.61 million, a price-to-earnings ratio of -6.50 and a beta of 2.58. The business's fifty day moving average is $1.53 and its 200-day moving average is $1.54. Compugen has a one year low of $1.13 and a one year high of $2.66.

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

Institutional Trading of Compugen

Several large investors have recently added to or reduced their stakes in CGEN. Raymond James Financial Inc. acquired a new stake in Compugen in the 4th quarter valued at approximately $103,000. Northern Trust Corp increased its position in Compugen by 936.9% in the 4th quarter. Northern Trust Corp now owns 941,825 shares of the biotechnology company's stock valued at $1,441,000 after acquiring an additional 850,997 shares during the period. Jane Street Group LLC acquired a new stake in Compugen in the 4th quarter valued at approximately $81,000. Millennium Management LLC increased its position in Compugen by 77.5% in the 4th quarter. Millennium Management LLC now owns 359,397 shares of the biotechnology company's stock valued at $550,000 after acquiring an additional 156,959 shares during the period. Finally, Two Sigma Advisers LP increased its position in Compugen by 93.6% in the 4th quarter. Two Sigma Advisers LP now owns 35,784 shares of the biotechnology company's stock valued at $55,000 after acquiring an additional 17,300 shares during the period. 12.22% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen cut 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, Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target 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.

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