Short Interest in Compugen Ltd. (NASDAQ:CGEN) Decreases By 18.1%

Compugen Ltd. (NASDAQ:CGEN) was the recipient of a significant decrease in short interest in October. As of October 31st, there was short interest totalling 1,270,000 shares, a decrease of 18.1% from the October 15th total of 1,550,000 shares. Based on an average trading volume of 225,400 shares, the days-to-cover ratio is presently 5.6 days.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Compugen from a “hold” rating to a “buy” rating in a report on Thursday, August 15th.

Compugen Stock Down 5.4 %

CGEN traded down $0.08 during trading on Friday, hitting $1.41. The company’s stock had a trading volume of 441,994 shares, compared to its average volume of 407,292. The stock has a market capitalization of $125.82 million, a price-to-earnings ratio of 70.50 and a beta of 2.64. The firm’s 50 day moving average price is $1.75 and its two-hundred day moving average price is $1.87. Compugen has a 12 month low of $0.61 and a 12 month high of $3.03.

Compugen (NASDAQ:CGEN) last issued its quarterly earnings results on Tuesday, November 12th. The biotechnology company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.20). The company had revenue of $17.13 million for the quarter, compared to analyst estimates of $17.67 million. Compugen had a return on equity of 2.62% and a net margin of 2.67%. During the same quarter last year, the company earned ($0.11) EPS. On average, sell-side analysts forecast that Compugen will post 0.07 earnings per share for the current year.

Institutional Trading of Compugen

Several hedge funds have recently modified their holdings of the stock. ARK Investment Management LLC raised its holdings in Compugen by 4.7% during the 2nd quarter. ARK Investment Management LLC now owns 1,088,271 shares of the biotechnology company’s stock worth $1,850,000 after purchasing an additional 48,979 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake 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 acquiring an additional 124,190 shares during the period. Rothschild Investment LLC bought a new stake in Compugen during the 2nd quarter worth approximately $380,000. Atom Investors LP raised its stake in shares of Compugen by 27.5% in the 3rd 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, Squarepoint Ops LLC lifted its position in shares of Compugen by 23.4% in 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. 12.22% of the stock is owned by 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.