Compugen (NASDAQ:CGEN) Shares Cross Above 200-Day Moving Average – Here’s Why

Compugen Ltd. (NASDAQ:CGEN)’s stock price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $1.61 and traded as high as $2.07. Compugen shares last traded at $2.03, with a volume of 130,687 shares changing hands.

Analysts Set New Price Targets

A number of research firms have recently issued reports on CGEN. Weiss Ratings reiterated a “sell (d-)” rating on shares of Compugen in a research note on Wednesday, January 21st. Wall Street Zen raised Compugen from a “sell” rating to a “hold” rating in a research report on Saturday, November 15th. Finally, HC Wainwright started coverage on shares of Compugen in a research report on Wednesday, January 7th. They issued a “buy” rating and a $4.00 price objective for the company. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $4.00.

Compugen Price Performance

The business’s 50-day moving average price is $1.68 and its two-hundred day moving average price is $1.61. The firm has a market cap of $186.51 million, a price-to-earnings ratio of -6.77 and a beta of 2.85.

Compugen (NASDAQ:CGEN) last posted its quarterly earnings results on Monday, November 10th. The biotechnology company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $0.02. The firm had revenue of $1.89 million for the quarter, compared to analysts’ expectations of $1.47 million. Compugen had a negative net margin of 400.10% and a negative return on equity of 53.60%. Equities analysts predict that Compugen Ltd. will post -0.03 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Compugen

Hedge funds have recently bought and sold shares of the company. ARK Investment Management LLC raised its stake in Compugen by 20.6% during the second quarter. ARK Investment Management LLC now owns 1,072,776 shares of the biotechnology company’s stock valued at $1,785,000 after buying an additional 183,107 shares in the last quarter. R Squared Ltd bought a new stake in shares of Compugen in the 2nd quarter valued at approximately $71,000. Franklin Resources Inc. acquired a new stake in shares of Compugen during the 2nd quarter valued at approximately $56,000. Jane Street Group LLC raised its position in shares of Compugen by 1,077.0% during the 2nd quarter. Jane Street Group LLC now owns 393,191 shares of the biotechnology company’s stock valued at $700,000 after acquiring an additional 359,785 shares in the last quarter. Finally, Osaic Holdings Inc. lifted its stake in Compugen by 346.0% during the second quarter. Osaic Holdings Inc. now owns 43,885 shares of the biotechnology company’s stock worth $78,000 after purchasing an additional 34,045 shares during the last quarter. 12.22% of the stock is currently owned by institutional investors and hedge funds.

About Compugen

Compugen Ltd. (NASDAQ: CGEN) is a clinical-stage therapeutic discovery company that leverages proprietary computational discovery platforms to identify novel immuno-oncology targets and biomarkers. The company combines large-scale biological datasets with machine learning algorithms to generate and validate new therapeutic and diagnostic candidates. Founded in 1993 and headquartered in Tel Aviv, Israel, Compugen also maintains a presence in the United States to support its clinical development and commercial collaborations.

Compugen’s predictive discovery engine scans complex biological systems in silico to reveal previously unrecognized pathways and immune checkpoints involved in cancer progression.