Compugen Ltd. (NASDAQ:CGEN – Get Rating) was the recipient of a large decrease in short interest in the month of September. As of September 15th, there was short interest totalling 2,120,000 shares, a decrease of 22.3% from the August 31st total of 2,730,000 shares. Approximately 2.6% of the shares of the stock are sold short. Based on an average trading volume of 1,140,000 shares, the days-to-cover ratio is presently 1.9 days.

Analyst Ratings Changes

CGEN has been the subject of a number of recent analyst reports. Oppenheimer cut their target price on Compugen from $14.00 to $12.00 and set an "outperform" rating for the company in a research report on Monday, August 8th. Jefferies Financial Group downgraded Compugen from a "buy" rating to a "hold" rating and set a $2.00 target price for the company. in a research report on Friday, August 5th. Truist Financial cut their target price on Compugen from $14.00 to $4.00 and set a "buy" rating for the company in a research report on Tuesday, August 23rd. StockNews.com raised Compugen from a "sell" rating to a "hold" rating in a report on Tuesday, September 20th. Finally, JMP Securities lowered their price target on Compugen from $8.00 to $4.00 and set a "market outperform" rating for the company in a report on Monday, August 8th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $6.20.

Compugen Trading Down 2.5 %

CGEN traded down $0.02 on Friday, reaching $0.66. The stock had a trading volume of 1,029,450 shares, compared to its average volume of 1,184,944. Compugen has a fifty-two week low of $0.66 and a fifty-two week high of $7.48. The firm has a 50-day moving average of $1.22 and a 200-day moving average of $1.91. The company has a market capitalization of $56.92 million, a price-to-earnings ratio of -1.68 and a beta of 2.15.

Institutional Investors Weigh In On Compugen

Several institutional investors and hedge funds have recently made changes to their positions in CGEN. Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in shares of Compugen in the first quarter valued at about $22,108,000. ARK Investment Management LLC increased its stake in shares of Compugen by 10.9% in the first quarter. ARK Investment Management LLC now owns 10,228,804 shares of the biotechnology company's stock valued at $32,937,000 after buying an additional 1,006,389 shares during the period. Renaissance Technologies LLC boosted its position in shares of Compugen by 251.2% during the 1st quarter. Renaissance Technologies LLC now owns 807,415 shares of the biotechnology company's stock valued at $2,600,000 after purchasing an additional 577,515 shares in the last quarter. UBS Group AG boosted its position in shares of Compugen by 132.3% during the 1st quarter. UBS Group AG now owns 409,037 shares of the biotechnology company's stock valued at $1,318,000 after purchasing an additional 232,993 shares in the last quarter. Finally, Antonetti Capital Management LLC boosted its position in shares of Compugen by 48.2% during the 2nd quarter. Antonetti Capital Management LLC now owns 519,643 shares of the biotechnology company's stock valued at $961,000 after purchasing an additional 168,972 shares in the last quarter.

About Compugen

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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 clinical study in patients with advanced malignancies as a monotherapy; Bapotulimab, a therapeutic antibody targeting ILDR2 that is in Phase I clinical study in patients with solid tumors; and AZD2936, a novel anti-TIGIT/PD-1 bispecific antibody, which is in Phase I/II clinical study in patients with advanced or metastatic non-small cell lung cancer.

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