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

Shares of Compugen Ltd. (NASDAQ:CGEN) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $2.14 and traded as high as $2.19. Compugen shares last traded at $2.14, with a volume of 286,183 shares traded.

Analyst Ratings Changes

CGEN has been the topic of a number of research reports. Truist Financial raised Compugen to a “strong-buy” rating in a research note on Wednesday, March 25th. Weiss Ratings restated a “sell (d-)” rating on shares of Compugen in a report on Monday, April 20th. Wall Street Zen lowered Compugen from a “buy” rating to a “hold” rating in a research report on Saturday, May 23rd. Lake Street Capital started coverage on Compugen in a report on Tuesday, April 7th. They issued a “buy” rating and a $6.00 target price on the stock. Finally, Leerink Partners cut their target price on Compugen from $13.00 to $5.00 and set an “outperform” rating on the stock in a report on Thursday, May 21st. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $5.00.

Compugen Stock Performance

The firm has a market cap of $215.57 million, a price-to-earnings ratio of 6.16 and a beta of 2.76. The business has a 50 day simple moving average of $2.47 and a 200-day simple moving average of $2.14.

Compugen (NASDAQ:CGEN) last issued its quarterly earnings data on Monday, May 18th. The biotechnology company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.01). The company had revenue of $2.18 million during the quarter, compared to analysts’ expectations of $1.57 million. Compugen had a return on equity of 47.72% and a net margin of 47.97%. As a group, research analysts anticipate that Compugen Ltd. will post -0.28 earnings per share for the current year.

Institutional Trading of Compugen

Institutional investors have recently made changes to their positions in the company. Franklin Resources Inc. bought a new position in shares of Compugen during the second quarter valued at about $56,000. Jane Street Group LLC increased its stake in Compugen by 1,077.0% in the 2nd 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 last quarter. Osaic Holdings Inc. boosted its stake in shares of Compugen by 346.0% in the 2nd quarter. Osaic Holdings Inc. now owns 43,885 shares of the biotechnology company’s stock worth $78,000 after buying an additional 34,045 shares during the last quarter. Two Sigma Investments LP boosted its stake in shares of Compugen by 10.6% in the 3rd quarter. Two Sigma Investments LP now owns 197,875 shares of the biotechnology company’s stock worth $291,000 after buying an additional 18,929 shares during the last quarter. Finally, Raymond James Financial Inc. grew its holdings in shares of 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 acquiring an additional 34,215 shares in the last quarter. Institutional investors own 12.22% of the company’s stock.

About Compugen

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.