Zacks Investment Research cut shares of Compugen (NASDAQ:CGEN) from a strong-buy rating to a hold rating in a research note issued to investors 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. “
Other equities analysts also recently issued research reports about the company. Oppenheimer set a $9.00 price target on Compugen and gave the stock a buy rating in a research report on Wednesday, November 7th. ValuEngine raised Compugen from a sell rating to a hold rating in a research report on Wednesday, January 2nd.
NASDAQ CGEN traded down $0.08 during trading on Tuesday, reaching $2.94. 117,191 shares of the company’s stock were exchanged, compared to its average volume of 132,686. The company has a market cap of $142.60 million, a PE ratio of -4.08 and a beta of 1.77. Compugen has a fifty-two week low of $2.00 and a fifty-two week high of $5.00.
Compugen (NASDAQ:CGEN) last announced its quarterly earnings results on Wednesday, November 7th. The biotechnology company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.07. The business had revenue of $7.80 million for the quarter, compared to analyst estimates of $7.80 million. Equities analysts forecast that Compugen will post -0.44 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Cornerstone Investment Partners LLC bought a new stake in shares of Compugen during the fourth quarter worth approximately $38,000. Morgan Stanley boosted its holdings in shares of Compugen by 2.8% during the third quarter. Morgan Stanley now owns 998,173 shares of the biotechnology company’s stock worth $3,843,000 after acquiring an additional 27,240 shares during the period. Jane Street Group LLC bought a new stake in shares of Compugen during the third quarter worth approximately $128,000. Renaissance Technologies LLC boosted its holdings in shares of Compugen by 8.2% during the third quarter. Renaissance Technologies LLC now owns 265,100 shares of the biotechnology company’s stock worth $1,021,000 after acquiring an additional 20,200 shares during the period. Finally, ARK Investment Management LLC boosted its holdings in shares of Compugen by 28.5% during the third quarter. ARK Investment Management LLC now owns 6,904,667 shares of the biotechnology company’s stock worth $26,583,000 after acquiring an additional 1,531,793 shares during the period. 21.68% of the stock is currently owned by hedge funds and other institutional investors.
Compugen Ltd., a therapeutic discovery company, engages in the research, development, and commercialization of therapeutic and product candidates in Israel and Europe. The company's therapeutic pipeline consists of immuno-oncology programs against novel drug targets in the areas of unmet medical needs in various cancer types and patient populations.
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