Compugen (NASDAQ:CGEN) Stock Price Passes Above 200-Day Moving Average – What’s Next?

Compugen Ltd. (NASDAQ:CGEN)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $2.08 and traded as high as $2.20. Compugen shares last traded at $2.10, with a volume of 242,438 shares changing hands.

Wall Street Analyst Weigh In

Several equities analysts recently commented on CGEN shares. Truist Financial upgraded Compugen to a “strong-buy” rating in a research note on Wednesday, March 25th. Lake Street Capital started coverage on Compugen in a research note on Tuesday, April 7th. They issued a “buy” rating and a $6.00 price objective on the stock. Leerink Partners dropped their price objective on Compugen from $13.00 to $5.00 and set an “outperform” rating on the stock in a research note on Thursday, May 21st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Compugen in a research note on Monday, April 20th. Finally, Wall Street Zen downgraded Compugen from a “buy” rating to a “hold” rating in a research note on Saturday, May 23rd. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $5.00.

Compugen Stock Down 5.4%

The company has a market cap of $198.56 million, a PE ratio of 5.68 and a beta of 2.74. The stock has a 50-day moving average of $2.61 and a 200-day moving average of $2.08.

Compugen (NASDAQ:CGEN) last released its quarterly earnings results on Monday, May 18th. The biotechnology company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.01). Compugen had a net margin of 47.97% and a return on equity of 47.72%. The firm had revenue of $2.18 million for the quarter, compared to analysts’ expectations of $1.57 million. Research analysts expect that Compugen Ltd. will post -0.28 EPS for the current year.

Institutional Investors Weigh In On Compugen

A number of large investors have recently added to or reduced their stakes in CGEN. Jane Street Group LLC raised its position in Compugen by 1,077.0% during the second quarter. Jane Street Group LLC now owns 393,191 shares of the biotechnology company’s stock valued at $700,000 after purchasing an additional 359,785 shares in the last quarter. Renaissance Technologies LLC raised its position in Compugen by 12.1% during the first quarter. Renaissance Technologies LLC now owns 1,632,988 shares of the biotechnology company’s stock valued at $3,478,000 after purchasing an additional 176,088 shares in the last quarter. XTX Topco Ltd purchased a new stake in Compugen during the fourth quarter valued at about $104,000. Marshall Wace LLP raised its position in Compugen by 135.7% during the fourth quarter. Marshall Wace LLP now owns 106,304 shares of the biotechnology company’s stock valued at $163,000 after purchasing an additional 61,202 shares in the last quarter. Finally, WINTON GROUP Ltd purchased a new stake in Compugen during the fourth quarter valued at about $84,000. Hedge funds and other institutional investors own 12.22% of the company’s stock.

Compugen Company Profile

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.