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.
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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.
Compugen (NASDAQ:CGEN – Get Rating) last issued its quarterly earnings results on Thursday, August 4th. The biotechnology company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.01. During the same period last year, the firm posted ($0.11) earnings per share. Sell-side analysts anticipate that Compugen will post -0.43 EPS for the current fiscal year.
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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