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

Shares of Compugen Ltd. (NASDAQ:CGEN) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $1.76 and traded as high as $2.34. Compugen shares last traded at $2.29, with a volume of 337,211 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Oppenheimer assumed coverage on Compugen in a report on Monday, January 13th. They set an “outperform” rating and a $4.00 target price for the company.

Compugen Trading Up 1.3 %

The firm has a market cap of $204.36 million, a PE ratio of 114.50 and a beta of 2.59. The stock has a fifty day simple moving average of $1.72 and a two-hundred day simple moving average of $1.76.

Compugen (NASDAQ:CGEN) last issued its quarterly earnings results on Tuesday, November 12th. The biotechnology company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.20). The business had revenue of $17.13 million for the quarter, compared to the consensus estimate of $17.67 million. Compugen had a net margin of 2.67% and a return on equity of 2.62%. During the same quarter last year, the business posted ($0.11) EPS. As a group, sell-side analysts predict that Compugen Ltd. will post -0.03 earnings per share for the current fiscal year.

Institutional Trading of Compugen

Large investors have recently modified their holdings of the business. Oppenheimer & Co. Inc. boosted its position in shares of Compugen by 75.9% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 19,350 shares of the biotechnology company’s stock valued at $35,000 after acquiring an additional 8,350 shares during the last quarter. Joel Isaacson & Co. LLC boosted its position in shares of Compugen by 136.4% during the 3rd quarter. Joel Isaacson & Co. LLC now owns 52,000 shares of the biotechnology company’s stock valued at $94,000 after acquiring an additional 30,000 shares during the last quarter. Squarepoint Ops LLC lifted its position in Compugen by 23.4% in the 2nd quarter. Squarepoint Ops LLC now owns 85,693 shares of the biotechnology company’s stock worth $144,000 after buying an additional 16,253 shares during the last quarter. Atom Investors LP lifted its position in Compugen by 27.5% in the 3rd quarter. Atom Investors LP now owns 151,816 shares of the biotechnology company’s stock worth $275,000 after buying an additional 32,701 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in Compugen by 82.7% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 274,335 shares of the biotechnology company’s stock worth $497,000 after buying an additional 124,190 shares during the last quarter. Institutional investors own 12.22% of the company’s stock.

Compugen Company 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.