Compugen (NASDAQ:CGEN) Stock Passes Above 200 Day Moving Average – What’s Next?

Compugen Ltd. (NASDAQ:CGEN)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $2.42 and traded as high as $2.47. Compugen shares last traded at $2.46, with a volume of 122,255 shares changing hands.

Wall Street Analyst Weigh In

CGEN has been the subject of a number of recent analyst reports. HC Wainwright reaffirmed a “buy” rating on shares of Compugen in a research report on Tuesday, August 4th. Wall Street Zen lowered Compugen from a “buy” rating to a “hold” rating in a research report on Saturday, May 23rd. Finally, Weiss Ratings raised Compugen from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $5.00.

Compugen Stock Performance

The company’s 50-day moving average price is $2.45 and its 200 day moving average price is $2.42. The stock has a market capitalization of $235.43 million, a PE ratio of 6.55 and a beta of 2.78.

Compugen (NASDAQ:CGEN) last announced its quarterly earnings results on Monday, August 3rd. The biotechnology company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.01. Compugen had a net margin of 47.56% and a return on equity of 42.57%. The company had revenue of $2.60 million for the quarter, compared to analysts’ expectations of $1.28 million. During the same quarter in the previous year, the company earned ($0.08) earnings per share. Analysts expect that Compugen Ltd. will post -0.27 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in CGEN. WINTON GROUP Ltd raised its position in shares of Compugen by 26.0% in the 2nd quarter. WINTON GROUP Ltd now owns 197,110 shares of the biotechnology company’s stock worth $422,000 after acquiring an additional 40,614 shares in the last quarter. Squarepoint Ops LLC bought a new stake in shares of Compugen during the second quarter valued at approximately $110,000. Glenmede Trust Co. NA grew its stake in Compugen by 187.5% in the first quarter. Glenmede Trust Co. NA now owns 34,500 shares of the biotechnology company’s stock worth $73,000 after purchasing an additional 22,500 shares during the period. Renaissance Technologies LLC grew its stake in Compugen by 12.1% in the first quarter. Renaissance Technologies LLC now owns 1,632,988 shares of the biotechnology company’s stock worth $3,478,000 after purchasing an additional 176,088 shares during the period. Finally, Hillsdale Investment Management Inc. bought a new position in Compugen in the first quarter worth $68,000. Hedge funds and other institutional investors own 12.22% of the company’s stock.

About Compugen

Compugen Ltd. is an Israeli clinical-stage biopharmaceutical company focused on discovering and developing therapeutics for cancer and other serious diseases. The company uses computational biology, data analysis and related technologies to identify novel drug targets and develop antibody-based medicines, with an emphasis on immuno-oncology.

Compugen’s pipeline includes investigational immune checkpoint therapies designed to reactivate anti-tumor immune responses. Its leading programs have included COM701, an antibody targeting PVRIG, and COM902, an antibody targeting TIGIT.