Compugen (NASDAQ:CGEN) Announces Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Compugen (NASDAQ:CGEN) released its quarterly earnings data on Monday. The biotechnology company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $0.02, Zacks reports. Compugen had a negative return on equity of 34.77% and a negative net margin of 87.45%.

Compugen Price Performance

Compugen stock opened at $1.68 on Monday. The business has a 50 day simple moving average of $1.61 and a 200-day simple moving average of $1.56. The stock has a market capitalization of $149.47 million, a PE ratio of -7.61 and a beta of 2.59. Compugen has a 12 month low of $1.13 and a 12 month high of $2.66.

Analyst Ratings Changes

A number of brokerages have recently commented on CGEN. Wall Street Zen lowered shares of Compugen from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of Compugen in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $4.00.

Hedge Funds Weigh In On Compugen

A number of institutional investors have recently bought and sold shares of CGEN. Jane Street Group LLC grew its stake in shares of Compugen by 1,077.0% in the 2nd quarter. Jane Street Group LLC now owns 393,191 shares of the biotechnology company’s stock valued at $700,000 after buying an additional 359,785 shares during the period. Osaic Holdings Inc. lifted its holdings in Compugen by 346.0% in the second quarter. Osaic Holdings Inc. now owns 43,885 shares of the biotechnology company’s stock valued at $78,000 after acquiring an additional 34,045 shares during the last quarter. Finally, Franklin Resources Inc. purchased a new position in Compugen in the second quarter worth approximately $56,000. 12.22% of the stock is owned by hedge funds and other institutional investors.

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.