Compugen (NASDAQ:CGEN) Share Price Crosses Above 200-Day Moving Average of $1.78

Shares of Compugen Ltd. (NASDAQ:CGEN) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $1.78 and traded as high as $2.12. Compugen shares last traded at $2.09, with a volume of 106,601 shares changing hands.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised Compugen from a “hold” rating to a “buy” rating in a report on Wednesday, March 6th.

Compugen Stock Performance

The stock’s 50-day simple moving average is $2.35 and its 200 day simple moving average is $1.78. The company has a market cap of $181.04 million, a PE ratio of -9.50 and a beta of 2.72.

Compugen (NASDAQ:CGEN) last released its quarterly earnings results on Tuesday, March 5th. The biotechnology company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.01. The firm had revenue of $33.46 million for the quarter, compared to analyst estimates of $60.00 million. On average, sell-side analysts predict that Compugen Ltd. will post 0.02 EPS for the current fiscal year.

Institutional Trading of Compugen

Several institutional investors and hedge funds have recently modified their holdings of CGEN. Silverarc Capital Management LLC raised its position in shares of Compugen by 6.1% during the 3rd quarter. Silverarc Capital Management LLC now owns 350,188 shares of the biotechnology company’s stock worth $326,000 after purchasing an additional 20,000 shares during the last quarter. Tocqueville Asset Management L.P. purchased a new position in Compugen during the third quarter worth $71,000. Finally, Kingsview Wealth Management LLC acquired a new position in shares of Compugen in the third quarter worth $78,000. Hedge funds and other institutional investors own 12.22% of the company’s stock.

About Compugen

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.