Millennium Management LLC Increases Holdings in Compugen Ltd. (NASDAQ:CGEN)

Millennium Management LLC lifted its position in shares of Compugen Ltd. (NASDAQ:CGEN - Free Report) by 77.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 359,397 shares of the biotechnology company's stock after buying an additional 156,959 shares during the quarter. Millennium Management LLC owned approximately 0.40% of Compugen worth $550,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Silverarc Capital Management LLC grew its position in shares of Compugen by 8.2% during the 4th quarter. Silverarc Capital Management LLC now owns 1,624,377 shares of the biotechnology company's stock worth $2,485,000 after buying an additional 123,264 shares in the last quarter. Northern Trust Corp boosted its position in Compugen by 936.9% during the fourth quarter. Northern Trust Corp now owns 941,825 shares of the biotechnology company's stock valued at $1,441,000 after purchasing an additional 850,997 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in Compugen by 15.7% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 317,500 shares of the biotechnology company's stock valued at $486,000 after purchasing an additional 43,165 shares in the last quarter. Marshall Wace LLP boosted its position in Compugen by 84.9% during the fourth quarter. Marshall Wace LLP now owns 88,169 shares of the biotechnology company's stock valued at $135,000 after purchasing an additional 40,494 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Compugen during the fourth quarter valued at about $103,000. Institutional investors own 12.22% of the company's stock.

Compugen Stock Performance

CGEN stock traded down $0.05 during trading on Wednesday, reaching $1.74. 166,356 shares of the company traded hands, compared to its average volume of 373,383. The business has a 50 day simple moving average of $1.44 and a 200 day simple moving average of $1.69. Compugen Ltd. has a 12 month low of $1.13 and a 12 month high of $2.66. The company has a market capitalization of $155.27 million, a price-to-earnings ratio of 87.00 and a beta of 2.54.

Compugen (NASDAQ:CGEN - Get Free Report) last released its quarterly 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 net margin of 2.67% and a return on equity of 2.62%. The business had revenue of $2.28 million during the quarter, compared to analysts' expectations of $3.70 million. During the same quarter last year, the business posted ($0.08) earnings per share. As a group, research analysts forecast that Compugen Ltd. will post -0.03 EPS for the current year.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded Compugen from a "buy" rating to a "hold" rating in a research report on Wednesday, March 5th.

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.