889,669 Shares in Compugen Ltd. (NASDAQ:CGEN) Bought by ARK Investment Management LLC

Key Points

• ARK Investment Management LLC has acquired a new stake in Compugen Ltd. (NASDAQ:CGEN) by purchasing 889,669 shares worth approximately $1.32 million, bringing its ownership to about 1% of the company.
• Compugen reported a quarterly loss of ($0.08) EPS, missing analysts' expectations, with revenues of $2.28 million compared to the forecast of $3.70 million.
• Several institutional investors have also increased their stakes in Compugen, with Northern Trust Corp growing its holdings by an impressive 936.9% during the fourth quarter.

ARK Investment Management LLC acquired a new position in shares of Compugen Ltd. (NASDAQ:CGEN - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 889,669 shares of the biotechnology company's stock, valued at approximately $1,323,000. ARK Investment Management LLC owned about 1.00% of Compugen as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CGEN. Commonwealth Equity Services LLC acquired a new position in Compugen during the fourth quarter worth $32,000. Calamos Wealth Management LLC acquired a new position in Compugen during the first quarter worth $43,000. Two Sigma Advisers LP raised its position in Compugen by 93.6% in the fourth 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 period. Jane Street Group LLC purchased a new stake in Compugen in the fourth quarter valued at $81,000. Finally, Raymond James Financial Inc. purchased a new stake in Compugen in the fourth quarter valued at $103,000. Institutional investors and hedge funds own 12.22% of the company's stock.

Compugen Stock Down 0.3%

NASDAQ:CGEN traded down $0.00 on Wednesday, reaching $1.48. The company's stock had a trading volume of 142,709 shares, compared to its average volume of 415,536. Compugen Ltd. has a 12-month low of $1.13 and a 12-month high of $2.66. The firm has a market cap of $131.72 million, a price-to-earnings ratio of -9.23 and a beta of 2.57. The stock has a 50 day moving average price of $1.62 and a 200 day moving average price of $1.70.

Compugen (NASDAQ:CGEN - Get Free Report) last posted its earnings results on Monday, May 19th. The biotechnology company reported ($0.08) EPS for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.02). Compugen had a negative net margin of 51.27% and a negative return on equity of 24.51%. The business had revenue of $2.28 million during the quarter, compared to analysts' expectations of $3.70 million. During the same quarter in the prior year, the firm earned ($0.08) EPS. Equities research analysts expect that Compugen Ltd. will post -0.03 EPS for the current fiscal year.

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.