Compugen (NASDAQ:CGEN) Share Price Crosses Above 200-Day Moving Average of $1.73

Compugen Ltd. (NASDAQ:CGEN)’s share price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $1.73 and traded as high as $1.98. Compugen shares last traded at $1.93, with a volume of 274,515 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Compugen from a “hold” rating to a “buy” rating in a research report on Wednesday, March 6th.

Compugen Price Performance

The company has a market cap of $167.18 million, a price-to-earnings ratio of -8.77 and a beta of 2.64. The business’s fifty day moving average price is $2.41 and its 200 day moving average price is $1.73.

Compugen (NASDAQ:CGEN) last issued its quarterly earnings results on Tuesday, March 5th. The biotechnology company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.01. The business had revenue of $33.46 million for the quarter, compared to analyst estimates of $60.00 million. As a group, equities research analysts anticipate that Compugen Ltd. will post 0.02 EPS for the current year.

Hedge Funds Weigh In On Compugen

A number of hedge funds have recently modified their holdings of CGEN. Silverarc Capital Management LLC raised its stake in Compugen by 6.1% during the third quarter. Silverarc Capital Management LLC now owns 350,188 shares of the biotechnology company’s stock worth $326,000 after buying an additional 20,000 shares during the last quarter. Tocqueville Asset Management L.P. bought a new position in Compugen during the third quarter worth $71,000. Finally, Kingsview Wealth Management LLC bought a new position in Compugen during the third quarter worth $78,000. Institutional investors and hedge funds own 12.22% of the company’s stock.

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.