Connor Clark & Lunn Investment Management Ltd. Sells 188,474 Shares of Compugen Ltd. $CGEN

Key Points

• Connor Clark & Lunn Investment Management Ltd. has reduced its position in Compugen Ltd. by 59.4%, selling 188,474 shares and now owning 129,026 shares worth $188,000.
• Compugen reported a quarterly loss of ($0.08) earnings per share, missing analysts' expectations, and its revenue for the quarter was only $1.26 million compared to a forecast of $3.95 million.
• Wall Street Zen has downgraded Compugen's rating from "hold" to "sell", although the stock maintains an average rating of "Buy" with a target price of $4.00.

Connor Clark & Lunn Investment Management Ltd. lessened its stake in Compugen Ltd. (NASDAQ:CGEN - Free Report) by 59.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 129,026 shares of the biotechnology company's stock after selling 188,474 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.14% of Compugen worth $188,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CGEN. US Bancorp DE bought a new stake in Compugen in the first quarter valued at about $29,000. Calamos Wealth Management LLC bought a new stake in Compugen in the first quarter valued at about $43,000. Two Sigma Advisers LP increased its holdings 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 last quarter. Jane Street Group LLC bought a new stake in Compugen in the fourth quarter valued at about $81,000. Finally, Raymond James Financial Inc. bought a new stake in Compugen in the fourth quarter valued at about $103,000. Institutional investors own 12.22% of the company's stock.

Wall Street Analyst Weigh In

Separately, Wall Street Zen downgraded Compugen from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $4.00.

Compugen Price Performance

Shares of Compugen stock traded up $0.02 during trading hours on Tuesday, hitting $1.45. The company's stock had a trading volume of 273,783 shares, compared to its average volume of 198,865. Compugen Ltd. has a 12 month low of $1.13 and a 12 month high of $2.66. The stock has a 50 day moving average of $1.56 and a 200 day moving average of $1.58. The company has a market capitalization of $129.40 million, a PE ratio of -6.59 and a beta of 2.61.

Compugen (NASDAQ:CGEN - Get Free Report) last announced its quarterly 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). 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. Equities analysts expect that Compugen Ltd. will post -0.03 EPS for the current year.

Compugen 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.