Compugen (NASDAQ:CGEN) Share Price Crosses Above 200-Day Moving Average - Here's What Happened

Key Points

• Technical move: Compugen shares climbed above their 200-day moving average of $1.89, trading as high as $2.90 and last at $2.83 on Wednesday with about 302,814 shares changing hands.
• Big earnings beat: The company reported quarterly EPS of $0.60 vs. $0.05 expected and revenue of $67.33M vs. $14.3M expected, though analysts still project -0.26 EPS for the current fiscal year.
• Mixed analyst view but positive consensus: Coverage ranges from Sell to Strong Buy, producing a MarketBeat consensus rating of "Moderate Buy" and an average price target of $5.00.

Compugen Ltd. (NASDAQ:CGEN - Get Free Report) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $1.89 and traded as high as $2.90. Compugen shares last traded at $2.83, with a volume of 302,814 shares trading hands.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Compugen in a research note on Monday. Lake Street Capital assumed coverage on shares of Compugen in a research note on Tuesday, April 7th. They issued a "buy" rating and a $6.00 target price on the stock. Wall Street Zen raised shares of Compugen from a "hold" rating to a "buy" rating in a research note on Saturday, March 7th. Truist Financial upgraded Compugen to a "strong-buy" rating in a research report on Wednesday, March 25th. Finally, HC Wainwright began coverage on Compugen in a research report on Wednesday, January 7th. They set a "buy" rating and a $4.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $5.00.

Compugen Stock Performance

The firm has a 50-day moving average of $2.18 and a 200-day moving average of $1.89. The firm has a market capitalization of $267.58 million, a P/E ratio of 7.65 and a beta of 2.77.

Compugen (NASDAQ:CGEN - Get Free Report) last posted its quarterly earnings results on Monday, March 2nd. The biotechnology company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.55. Compugen had a return on equity of 55.68% and a net margin of 48.57%.The business had revenue of $67.33 million for the quarter, compared to analyst estimates of $14.30 million. Equities analysts anticipate that Compugen Ltd. will post -0.26 EPS for the current fiscal year.

Hedge Funds Weigh In On Compugen

Several institutional investors and hedge funds have recently bought and sold shares of the stock. XTX Topco Ltd bought a new position in Compugen during the 4th quarter worth approximately $104,000. Bank Hapoalim BM bought a new position in Compugen during the 4th quarter worth approximately $37,000. Security National Bank of Sioux City Iowa IA bought a new position in Compugen during the 4th quarter worth approximately $38,000. Marshall Wace LLP grew its position in Compugen by 135.7% during the 4th quarter. Marshall Wace LLP now owns 106,304 shares of the biotechnology company's stock worth $163,000 after acquiring an additional 61,202 shares during the last quarter. Finally, State Street Corp grew its position in Compugen by 3.9% during the 4th quarter. State Street Corp now owns 393,802 shares of the biotechnology company's stock worth $603,000 after acquiring an additional 14,701 shares during the last quarter. 12.22% of the stock is currently owned by institutional investors.

About Compugen

Compugen Ltd. NASDAQ: CGEN is a clinical-stage therapeutic discovery company that leverages proprietary computational discovery platforms to identify novel immuno-oncology targets and biomarkers. The company combines large-scale biological datasets with machine learning algorithms to generate and validate new therapeutic and diagnostic candidates. Founded in 1993 and headquartered in Tel Aviv, Israel, Compugen also maintains a presence in the United States to support its clinical development and commercial collaborations.

Compugen's predictive discovery engine scans complex biological systems in silico to reveal previously unrecognized pathways and immune checkpoints involved in cancer progression.

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