Compugen (NASDAQ:CGEN) Releases Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Compugen (NASDAQ:CGEN) released its quarterly earnings results on Monday. The biotechnology company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.01, FiscalAI reports. Compugen had a net margin of 47.97% and a return on equity of 47.72%. The firm had revenue of $2.60 million during the quarter, compared to the consensus estimate of $1.28 million.

Compugen Price Performance

Shares of NASDAQ CGEN opened at $2.35 on Monday. The company has a market capitalization of $222.20 million, a PE ratio of 6.35 and a beta of 2.76. Compugen has a twelve month low of $1.29 and a twelve month high of $3.23. The firm has a fifty day simple moving average of $2.27 and a 200 day simple moving average of $2.26.

Analyst Upgrades and Downgrades

CGEN has been the subject of several analyst reports. Leerink Partners lowered their target price on Compugen from $13.00 to $5.00 and set an “outperform” rating for the company in a research report on Thursday, May 21st. Lake Street Capital initiated coverage on Compugen in a research note on Tuesday, April 7th. They issued a “buy” rating and a $6.00 price target for the company. Wall Street Zen downgraded Compugen from a “buy” rating to a “hold” rating in a research report on Saturday, May 23rd. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Compugen in a research note on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Compugen presently has an average rating of “Moderate Buy” and a consensus price target of $5.00.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Renaissance Technologies LLC boosted its position in shares of Compugen by 3.7% during the 4th quarter. Renaissance Technologies LLC now owns 1,456,900 shares of the biotechnology company’s stock valued at $2,229,000 after purchasing an additional 51,565 shares in the last quarter. State Street Corp increased its holdings in Compugen by 3.9% in the fourth quarter. State Street Corp now owns 393,802 shares of the biotechnology company’s stock worth $603,000 after purchasing an additional 14,701 shares in the last quarter. Jane Street Group LLC lifted its stake in Compugen by 1,077.0% in the second quarter. Jane Street Group LLC now owns 393,191 shares of the biotechnology company’s stock valued at $700,000 after buying an additional 359,785 shares during the period. Two Sigma Investments LP lifted its stake in Compugen by 10.6% in the third quarter. Two Sigma Investments LP now owns 197,875 shares of the biotechnology company’s stock valued at $291,000 after buying an additional 18,929 shares during the period. Finally, Marshall Wace LLP boosted its holdings in shares of Compugen by 135.7% during the 4th quarter. Marshall Wace LLP now owns 106,304 shares of the biotechnology company’s stock worth $163,000 after buying an additional 61,202 shares in the last quarter. 12.22% of the stock is owned by institutional investors.

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.