Compugen (NASDAQ:CGEN) Share Price Passes Above 200 Day Moving Average – Time to Sell?

Compugen Ltd. (NASDAQ:CGEN)’s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $1.58 and traded as high as $1.60. Compugen shares last traded at $1.56, with a volume of 132,777 shares changing hands.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Compugen in a research report on Wednesday, October 8th. Wall Street Zen upgraded shares of Compugen from a “sell” rating to a “hold” rating in a research report on Saturday, November 15th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $4.00.

Compugen Price Performance

The firm has a market cap of $139.21 million, a PE ratio of -7.09 and a beta of 2.59. The firm has a 50-day simple moving average of $1.68 and a 200 day simple moving average of $1.58.

Compugen (NASDAQ:CGEN) last released its earnings results on Monday, November 10th. The biotechnology company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.02. Compugen had a negative net margin of 87.45% and a negative return on equity of 34.77%. The firm had revenue of $1.89 million for the quarter, compared to the consensus estimate of $1.47 million. Sell-side analysts forecast that Compugen Ltd. will post -0.03 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Compugen

Large investors have recently made changes to their positions in the business. US Bancorp DE bought a new stake in shares of Compugen in the 1st quarter worth approximately $29,000. Schnieders Capital Management LLC purchased a new position in Compugen during the first quarter valued at $131,000. ARK Investment Management LLC boosted its holdings in Compugen by 20.6% in the second quarter. ARK Investment Management LLC now owns 1,072,776 shares of the biotechnology company’s stock worth $1,785,000 after acquiring an additional 183,107 shares in the last quarter. R Squared Ltd purchased a new stake in shares of Compugen in the second quarter worth $71,000. Finally, Franklin Resources Inc. purchased a new stake in shares of Compugen in the second quarter worth $56,000. 12.22% of the stock is currently owned by hedge funds and other institutional investors.

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.