Compugen (NASDAQ:CGEN) Stock Passes Above 200-Day Moving Average - Here's Why

Shares of Compugen Ltd. (NASDAQ:CGEN - Get Free Report) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $1.76 and traded as high as $2.34. Compugen shares last traded at $2.29, with a volume of 337,211 shares traded.

Analyst Upgrades and Downgrades

Separately, Oppenheimer started coverage on shares of Compugen in a research note on Monday, January 13th. They issued an "outperform" rating and a $4.00 price target for the company.

Compugen Stock Performance

The stock has a market capitalization of $207.93 million, a price-to-earnings ratio of 116.50 and a beta of 2.59. The business has a 50-day moving average of $1.78 and a 200-day moving average of $1.77.

Compugen (NASDAQ:CGEN - Get Free Report) last announced its quarterly earnings results on Tuesday, November 12th. The biotechnology company reported $0.01 earnings per share for the quarter, missing analysts' consensus estimates of $0.21 by ($0.20). Compugen had a net margin of 2.67% and a return on equity of 2.62%. The company had revenue of $17.13 million for the quarter, compared to analyst estimates of $17.67 million. During the same quarter in the prior year, the business earned ($0.11) earnings per share. Equities analysts predict that Compugen Ltd. will post -0.03 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Oppenheimer & Co. Inc. raised its holdings in shares of Compugen by 75.9% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 19,350 shares of the biotechnology company's stock valued at $35,000 after buying an additional 8,350 shares during the period. Joel Isaacson & Co. LLC increased its stake in Compugen by 136.4% during the third quarter. Joel Isaacson & Co. LLC now owns 52,000 shares of the biotechnology company's stock worth $94,000 after purchasing an additional 30,000 shares during the period. Squarepoint Ops LLC lifted its position in shares of Compugen by 23.4% during the second quarter. Squarepoint Ops LLC now owns 85,693 shares of the biotechnology company's stock worth $144,000 after purchasing an additional 16,253 shares in the last quarter. Atom Investors LP boosted its stake in shares of Compugen by 27.5% in the third quarter. Atom Investors LP now owns 151,816 shares of the biotechnology company's stock valued at $275,000 after purchasing an additional 32,701 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Compugen by 82.7% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 274,335 shares of the biotechnology company's stock valued at $497,000 after purchasing an additional 124,190 shares in the last quarter. 12.22% of the stock is currently owned by institutional investors and hedge funds.

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.