Compugen (NASDAQ:CGEN) Stock Passes Above 200 Day Moving Average - Here's What Happened

Key Points

• Compugen Ltd. shares crossed above their 200-day moving average of $1.52, reaching as high as $2.09 before closing at $1.95 with a trading volume of 808,341 shares.
• Research analysts issued mixed ratings, with Wall Street Zen downgrading the stock from a "hold" to a "sell," while it holds an average price target of $4.00.
• The company reported a quarterly loss of ($0.08) EPS, missing estimates, with revenues of $1.26 million compared to expectations of $3.95 million, indicating significant challenges in its financial performance.

Compugen Ltd. (NASDAQ:CGEN - Get Free Report)'s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $1.52 and traded as high as $2.09. Compugen shares last traded at $1.95, with a volume of 808,341 shares changing hands.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Wall Street Zen lowered Compugen from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Weiss Ratings restated a "sell (d-)" rating on shares of Compugen in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $4.00.

Compugen Price Performance

The company has a market cap of $174.02 million, a PE ratio of -8.86 and a beta of 2.61. The company has a 50-day moving average of $1.53 and a 200 day moving average of $1.52.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. ARK Investment Management LLC grew 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 worth $1,785,000 after acquiring an additional 183,107 shares in the last quarter. Jane Street Group LLC lifted its stake 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 worth $700,000 after purchasing an additional 359,785 shares during the last quarter. Schnieders Capital Management LLC bought a new stake in Compugen in the first quarter worth about $131,000. Osaic Holdings Inc. lifted its stake in Compugen by 346.0% in the second quarter. Osaic Holdings Inc. now owns 43,885 shares of the biotechnology company's stock worth $78,000 after purchasing an additional 34,045 shares during the last quarter. Finally, R Squared Ltd bought a new stake in Compugen in the second quarter worth about $71,000. 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.

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