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

Shares of Compugen Ltd. (NASDAQ:CGEN) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $2.28 and traded as high as $2.50. Compugen shares last traded at $2.41, with a volume of 279,975 shares trading hands.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Wall Street Zen downgraded shares of Compugen from a “buy” rating to a “hold” rating in a research note on Saturday, May 23rd. Leerink Partners decreased their price objective on shares of Compugen from $13.00 to $5.00 and set an “outperform” rating for the company in a research report on Thursday, May 21st. HC Wainwright restated a “buy” rating on shares of Compugen in a research note on Tuesday, August 4th. Finally, Weiss Ratings raised Compugen from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Compugen has a consensus rating of “Buy” and an average target price of $5.00.

Compugen Stock Performance

The company has a market capitalization of $227.87 million, a PE ratio of 6.34 and a beta of 2.77. The company has a 50 day moving average price of $2.24 and a 200 day moving average price of $2.28.

Compugen (NASDAQ:CGEN) last issued its quarterly earnings results on Monday, August 3rd. The biotechnology company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.01. The business had revenue of $2.60 million during the quarter, compared to analyst estimates of $1.28 million. Compugen had a net margin of 47.56% and a return on equity of 42.57%. During the same quarter in the previous year, the firm earned ($0.08) earnings per share. On average, equities analysts forecast that Compugen Ltd. will post -0.27 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Compugen

Hedge funds and other institutional investors have recently modified their holdings of the stock. Security National Bank of Sioux City Iowa IA bought a new position in shares of Compugen during the fourth quarter worth about $38,000. Marshall Wace LLP increased its holdings in Compugen by 135.7% in the fourth quarter. Marshall Wace LLP now owns 106,304 shares of the biotechnology company’s stock valued at $163,000 after buying an additional 61,202 shares during the last quarter. WINTON GROUP Ltd bought a new stake in Compugen in the fourth quarter valued at about $84,000. Raymond James Financial Inc. increased its holdings in Compugen by 51.0% in the third quarter. Raymond James Financial Inc. now owns 101,256 shares of the biotechnology company’s stock valued at $149,000 after buying an additional 34,215 shares during the last quarter. Finally, Two Sigma Investments LP raised its stake in Compugen by 10.6% during 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 in the last quarter. 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.