Compugen (NASDAQ:CGEN) Stock Crosses Above 200 Day Moving Average – Here’s What Happened

Compugen Ltd. (NASDAQ:CGEN)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $1.74 and traded as high as $2.35. Compugen shares last traded at $2.25, with a volume of 1,187,849 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Oppenheimer began coverage on Compugen in a research report on Monday, January 13th. They set an “outperform” rating and a $4.00 price target on the stock.

Compugen Trading Up 4.8 %

The firm’s 50-day simple moving average is $1.63 and its two-hundred day simple moving average is $1.74. The stock has a market capitalization of $212.38 million, a PE ratio of 119.00 and a beta of 2.59.

Compugen (NASDAQ:CGEN) last posted its quarterly earnings results on Tuesday, November 12th. The biotechnology company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.20). The company had revenue of $17.13 million during the quarter, compared to analyst estimates of $17.67 million. Compugen had a return on equity of 2.62% and a net margin of 2.67%. During the same period last year, the company posted ($0.11) earnings per share. As a group, research analysts expect that Compugen Ltd. will post -0.03 earnings per share for the current year.

Institutional Investors Weigh In On Compugen

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Connor Clark & Lunn Investment Management Ltd. grew its position in Compugen by 82.7% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 274,335 shares of the biotechnology company’s stock worth $497,000 after purchasing an additional 124,190 shares during the last quarter. Atom Investors LP boosted its stake in Compugen by 27.5% in the third quarter. Atom Investors LP now owns 151,816 shares of the biotechnology company’s stock worth $275,000 after purchasing an additional 32,701 shares in the last quarter. Joel Isaacson & Co. LLC grew its holdings in Compugen by 136.4% during the 3rd quarter. Joel Isaacson & Co. LLC now owns 52,000 shares of the biotechnology company’s stock worth $94,000 after acquiring an additional 30,000 shares during the last quarter. Squarepoint Ops LLC raised its position in Compugen by 23.4% in the 2nd quarter. Squarepoint Ops LLC now owns 85,693 shares of the biotechnology company’s stock worth $144,000 after purchasing an additional 16,253 shares during the last quarter. Finally, Oppenheimer & Co. Inc. lifted its stake in shares of Compugen by 75.9% during the third quarter. Oppenheimer & Co. Inc. now owns 19,350 shares of the biotechnology company’s stock valued at $35,000 after acquiring an additional 8,350 shares during the period. 12.22% of the stock is currently owned by institutional investors and hedge funds.

Compugen Company 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.