Compugen (NASDAQ:CGEN) Stock Price 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 Friday . The stock has a 200-day moving average of $2.08 and traded as high as $2.20. Compugen shares last traded at $2.10, with a volume of 242,438 shares trading hands.

Analyst Upgrades and Downgrades

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

Compugen Stock Performance

The company has a 50-day simple moving average of $2.61 and a two-hundred day simple moving average of $2.08. The firm has a market capitalization of $198.56 million, a P/E ratio of 5.68 and a beta of 2.74.

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

Hedge Funds Weigh In On Compugen

Several large investors have recently made changes to their positions in the business. Glenmede Trust Co. NA lifted its holdings in shares of Compugen by 187.5% during the first quarter. Glenmede Trust Co. NA now owns 34,500 shares of the biotechnology company’s stock valued at $73,000 after purchasing an additional 22,500 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Compugen by 12.1% during the first quarter. Renaissance Technologies LLC now owns 1,632,988 shares of the biotechnology company’s stock valued at $3,478,000 after purchasing an additional 176,088 shares during the last quarter. Hillsdale Investment Management Inc. purchased a new position in shares of Compugen during the first quarter valued at approximately $68,000. Calamos Advisors LLC purchased a new position in shares of Compugen during the first quarter valued at approximately $63,000. Finally, Platform Technology Partners lifted its holdings in shares of Compugen by 10.0% during the first quarter. Platform Technology Partners now owns 55,000 shares of the biotechnology company’s stock valued at $117,000 after purchasing an additional 5,000 shares during the last quarter. 12.22% of the stock is currently owned by hedge funds and other institutional investors.

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.