Compugen (NASDAQ:CGEN) Downgraded by Wall Street Zen to Sell

Key Points

• Compugen was downgraded from a "hold" to a "sell" rating by Wall Street Zen, reflecting negative sentiments on the stock's performance.
• The company reported a loss of $0.08 earnings per share for the last quarter, missing analyst estimates and generating significantly lower revenue than expected.
• Recent institutional investments included a new stake from Raymond James Financial and substantial increases from existing shareholders, indicating ongoing interest in Compugen amidst its downgrading.

Compugen (NASDAQ:CGEN - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a note issued to investors on Saturday.

Compugen Price Performance

NASDAQ CGEN traded up $0.03 during midday trading on Friday, hitting $1.50. 78,550 shares of the company traded hands, compared to its average volume of 402,135. The company has a market cap of $133.86 million, a PE ratio of -6.82 and a beta of 2.61. The company's 50-day simple moving average is $1.61 and its 200-day simple moving average is $1.65. Compugen has a 52 week low of $1.13 and a 52 week high of $2.66.

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

Institutional Trading of Compugen

Hedge funds and other institutional investors have recently made changes to their positions in the business. Two Sigma Advisers LP lifted its holdings in shares of Compugen by 93.6% during the 4th quarter. Two Sigma Advisers LP now owns 35,784 shares of the biotechnology company's stock valued at $55,000 after purchasing an additional 17,300 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of Compugen by 77.5% during the 4th quarter. Millennium Management LLC now owns 359,397 shares of the biotechnology company's stock valued at $550,000 after purchasing an additional 156,959 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Compugen by 936.9% during the 4th quarter. Northern Trust Corp now owns 941,825 shares of the biotechnology company's stock valued at $1,441,000 after purchasing an additional 850,997 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Compugen during the 4th quarter valued at $103,000. Finally, Commonwealth Equity Services LLC purchased a new stake in shares of Compugen during the 4th quarter valued at $32,000. Hedge funds and other institutional investors 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.