Goldman Sachs Group Inc. Has $85,000 Stake in Compugen Ltd. $CGEN

Key Points

• Goldman Sachs Group Inc. significantly reduced its stake in Compugen Ltd. by 83.2%, holding approximately 0.07% of the company, worth $85,000 at the end of the reported period.
• Compugen reported a quarterly earnings loss of ($0.08) per share, missing the consensus estimate, while revenue for the quarter was $1.26 million, well below analyst expectations of $3.95 million.
• Wall Street analysts have mixed opinions on Compugen, with one lowering its rating from "hold" to "sell," though the average rating remains at "Buy" with a target price of $4.00.

Goldman Sachs Group Inc. trimmed its stake in shares of Compugen Ltd. (NASDAQ:CGEN - Free Report) by 83.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 58,268 shares of the biotechnology company's stock after selling 288,232 shares during the period. Goldman Sachs Group Inc. owned approximately 0.07% of Compugen worth $85,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. ARK Investment Management LLC acquired a new position in Compugen during the 1st quarter worth $1,323,000. Millennium Management LLC lifted its stake in shares of Compugen by 77.5% during the fourth quarter. Millennium Management LLC now owns 359,397 shares of the biotechnology company's stock valued at $550,000 after acquiring an additional 156,959 shares during the period. Squarepoint Ops LLC lifted its position in Compugen by 74.0% during the 4th quarter. Squarepoint Ops LLC now owns 290,659 shares of the biotechnology company's stock valued at $445,000 after purchasing an additional 123,641 shares during the period. Schnieders Capital Management LLC acquired a new position in Compugen during the 1st quarter valued at about $131,000. Finally, Jane Street Group LLC acquired a new position in Compugen during the 4th quarter valued at about $81,000. Institutional investors and hedge funds own 12.22% of the company's stock.

Compugen Price Performance

CGEN opened at $1.47 on Wednesday. The business's 50-day moving average price is $1.44 and its two-hundred day moving average price is $1.49. Compugen Ltd. has a 1 year low of $1.13 and a 1 year high of $2.66. The company has a market capitalization of $131.18 million, a price-to-earnings ratio of -6.68 and a beta of 2.58.

Compugen (NASDAQ:CGEN - Get Free Report) last released 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 net margin of 87.45% and a negative return on equity of 34.77%. The firm had revenue of $1.26 million during the quarter, compared to analyst estimates of $3.95 million. Sell-side analysts anticipate that Compugen Ltd. will post -0.03 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

About Compugen

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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