Compugen (NASDAQ:CGEN) Downgraded to “Hold” Rating by StockNews.com

StockNews.com cut shares of Compugen (NASDAQ:CGEN) from a buy rating to a hold rating in a research note issued to investors on Wednesday morning.

Separately, Oppenheimer assumed coverage on Compugen in a research report on Monday, January 13th. They set an “outperform” rating and a $4.00 target price for the company.

Compugen Price Performance

Compugen stock opened at $1.81 on Wednesday. The business has a 50 day moving average of $2.04 and a 200-day moving average of $1.84. The company has a market capitalization of $161.52 million, a P/E ratio of 90.50 and a beta of 2.98. Compugen has a 1 year low of $1.35 and a 1 year high of $3.03.

Compugen (NASDAQ:CGEN) last announced its quarterly earnings results on Tuesday, March 4th. The biotechnology company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.14). The business had revenue of $1.47 million during the quarter, compared to analyst estimates of $17.47 million. Compugen had a net margin of 2.67% and a return on equity of 2.62%. Equities analysts anticipate that Compugen will post -0.03 EPS for the current year.

Institutional Trading of Compugen

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CGEN. Oppenheimer & Co. Inc. boosted its stake 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 purchasing an additional 8,350 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in 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 buying an additional 124,190 shares during the period. Atom Investors LP boosted its position in Compugen by 27.5% during the third quarter. Atom Investors LP now owns 151,816 shares of the biotechnology company’s stock valued at $275,000 after acquiring an additional 32,701 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Compugen during the fourth quarter valued at $103,000. Finally, Commonwealth Equity Services LLC acquired a new stake in Compugen during the 4th quarter worth about $32,000. Institutional investors and hedge funds own 12.22% of the company’s stock.

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.