Compugen Ltd. (NASDAQ:CGEN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Tuesday.

According to Zacks, “Compugen Ltd. is a pioneer in the fields of computational genomics and proteomics. The company combines the disciplines of mathematics and computer science with molecular biology to improve the understanding of genomics and proteomics, the study of genes and proteins. Compugen’s expertise in these areas is used to develop core technologies and platforms that are the basis for its products and services. These products and services are designed to enable life scientists to significantly enhance their research efforts in drug discovery. “

Shares of Compugen (CGEN) traded up 1.52% on Tuesday, hitting $3.35. The stock had a trading volume of 59,795 shares. Compugen has a 52 week low of $2.60 and a 52 week high of $6.81. The stock’s 50-day moving average price is $3.31 and its 200 day moving average price is $3.84. The company’s market cap is $171.29 million.

Compugen (NASDAQ:CGEN) last posted its quarterly earnings results on Wednesday, August 2nd. The biotechnology company reported ($0.18) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.17) by ($0.01). On average, analysts predict that Compugen will post ($0.73) EPS for the current year.

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Hedge funds have recently bought and sold shares of the business. Tower Research Capital LLC TRC grew its stake in Compugen by 522.2% in the first quarter. Tower Research Capital LLC TRC now owns 23,576 shares of the biotechnology company’s stock valued at $101,000 after purchasing an additional 19,787 shares in the last quarter. Susquehanna International Group LLP bought a new position in Compugen in the second quarter valued at approximately $162,000. Goldman Sachs Group Inc. grew its stake in Compugen by 38.7% in the first quarter. Goldman Sachs Group Inc. now owns 59,797 shares of the biotechnology company’s stock valued at $257,000 after purchasing an additional 16,696 shares in the last quarter. ARK Investment Management LLC lifted its position in shares of Compugen by 104.1% in the second quarter. ARK Investment Management LLC now owns 560,103 shares of the biotechnology company’s stock valued at $2,128,000 after buying an additional 285,653 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its position in shares of Compugen by 8.7% in the first quarter. Renaissance Technologies LLC now owns 581,236 shares of the biotechnology company’s stock valued at $2,499,000 after buying an additional 46,336 shares during the last quarter. Hedge funds and other institutional investors own 17.49% of the company’s stock.

About Compugen

Compugen Ltd. is a therapeutic discovery company. The Company focuses on infrastructure to discover drug targets and develop therapeutics. The Company is engaged in the research, development and commercialization of therapeutic and product candidates. The Company’s pipeline primarily consists of early and preclinical stage immuno-oncology programs based on drug targets discovered by the Company, primarily immune checkpoint and myeloid protein target candidates.

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