Compugen (NASDAQ:CGEN) Stock Crosses Above Two Hundred Day Moving Average of $1.63

Compugen Ltd. (NASDAQ:CGEN) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $1.63 and traded as high as $2.25. Compugen shares last traded at $2.13, with a volume of 388,383 shares trading hands.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CGEN. StockNews.com upgraded shares of Compugen from a “hold” rating to a “buy” rating in a research note on Wednesday, March 6th. Stifel Nicolaus upped their price target on shares of Compugen from $3.00 to $4.00 and gave the company a “buy” rating in a research report on Tuesday, December 19th.

Compugen Stock Performance

The stock has a market cap of $184.51 million, a PE ratio of -9.68 and a beta of 2.63. The company’s 50-day moving average price is $2.48 and its 200 day moving average price is $1.63.

Compugen (NASDAQ:CGEN) last released its quarterly earnings results on Tuesday, March 5th. The biotechnology company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.10 by $0.01. The business had revenue of $33.46 million for the quarter, compared to analysts’ expectations of $60.00 million. On average, sell-side analysts anticipate that Compugen Ltd. will post 0.02 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Compugen

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CGEN. Mariner LLC increased its holdings in Compugen by 207.3% in the 4th quarter. Mariner LLC now owns 36,831 shares of the biotechnology company’s stock worth $26,000 after acquiring an additional 24,844 shares in the last quarter. Virtu Financial LLC purchased a new stake in Compugen in the 1st quarter worth approximately $37,000. Envestnet Asset Management Inc. increased its holdings in Compugen by 68.1% in the 2nd quarter. Envestnet Asset Management Inc. now owns 35,536 shares of the biotechnology company’s stock worth $40,000 after acquiring an additional 14,393 shares in the last quarter. Janney Montgomery Scott LLC increased its holdings in Compugen by 58.4% in the 4th quarter. Janney Montgomery Scott LLC now owns 21,700 shares of the biotechnology company’s stock worth $43,000 after acquiring an additional 8,000 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in Compugen by 49.4% in the 2nd quarter. Geode Capital Management LLC now owns 40,579 shares of the biotechnology company’s stock worth $46,000 after acquiring an additional 13,409 shares in the last quarter. 12.22% of the stock is owned by hedge funds and other institutional investors.

About Compugen

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.