ARK Investment Management LLC Has $1.79 Million Stock Position in Compugen Ltd. $CGEN

ARK Investment Management LLC grew its stake in Compugen Ltd. (NASDAQ:CGEN) by 20.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,072,776 shares of the biotechnology company’s stock after purchasing an additional 183,107 shares during the quarter. ARK Investment Management LLC owned about 1.20% of Compugen worth $1,785,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in CGEN. Calamos Wealth Management LLC acquired a new position in shares of Compugen in the 1st quarter valued at $43,000. US Bancorp DE acquired a new stake in Compugen during the 1st quarter worth $29,000. Finally, Schnieders Capital Management LLC acquired a new stake in Compugen during the 1st quarter worth $131,000. Institutional investors and hedge funds own 12.22% of the company’s stock.

Compugen Price Performance

Shares of NASDAQ CGEN opened at $1.74 on Thursday. The stock has a market capitalization of $155.28 million, a price-to-earnings ratio of -7.91 and a beta of 2.61. The business has a 50-day moving average of $1.56 and a 200-day moving average of $1.53. Compugen Ltd. has a fifty-two week low of $1.13 and a fifty-two week high of $2.66.

Compugen (NASDAQ:CGEN) last announced its quarterly earnings data on Wednesday, August 6th. The biotechnology company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.01). The company had revenue of $1.26 million during the quarter, compared to the consensus estimate of $3.95 million. Compugen had a negative net margin of 87.45% and a negative return on equity of 34.77%. On average, sell-side analysts expect that Compugen Ltd. will post -0.03 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on CGEN. Wall Street Zen downgraded Compugen from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Compugen in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Compugen presently has a consensus rating of “Hold” and an average price target of $4.00.

Compugen 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.