Compugen (NASDAQ:CGEN) Stock Crosses Above 200-Day Moving Average – Here’s Why

Shares of Compugen Ltd. (NASDAQ:CGEN) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $1.74 and traded as high as $2.12. Compugen shares last traded at $2.07, with a volume of 137,147 shares.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CGEN. HC Wainwright started coverage on Compugen in a research note on Wednesday, January 7th. They set a “buy” rating and a $4.00 target price for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Compugen in a research note on Wednesday, January 21st. Finally, Wall Street Zen raised Compugen from a “hold” rating to a “buy” rating in a report on Saturday, March 7th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, Compugen has an average rating of “Hold” and an average price target of $4.00.

Compugen Trading Down 1.0%

The business has a fifty day simple moving average of $1.97 and a 200 day simple moving average of $1.74.

Compugen (NASDAQ:CGEN) last issued its quarterly earnings results on Monday, March 2nd. The biotechnology company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.55. The business had revenue of $67.33 million during the quarter, compared to the consensus estimate of $14.30 million. Compugen had a return on equity of 55.68% and a net margin of 48.57%. On average, sell-side analysts expect that Compugen Ltd. will post -0.03 earnings per share for the current year.

Institutional Trading of Compugen

Several institutional investors have recently added to or reduced their stakes in the business. Bank Hapoalim BM bought a new position in shares of Compugen in the 4th quarter worth about $37,000. Security National Bank of Sioux City Iowa IA bought a new stake in shares of Compugen during the 4th quarter valued at about $38,000. Franklin Resources Inc. bought a new stake in shares of Compugen during the 2nd quarter valued at about $56,000. Osaic Holdings Inc. raised its stake in Compugen by 346.0% during the second quarter. Osaic Holdings Inc. now owns 43,885 shares of the biotechnology company’s stock worth $78,000 after acquiring an additional 34,045 shares during the period. Finally, WINTON GROUP Ltd acquired a new stake in Compugen during the fourth quarter worth about $84,000. Institutional investors own 12.22% of the company’s stock.

About Compugen

Compugen Ltd. (NASDAQ: CGEN) is a clinical-stage therapeutic discovery company that leverages proprietary computational discovery platforms to identify novel immuno-oncology targets and biomarkers. The company combines large-scale biological datasets with machine learning algorithms to generate and validate new therapeutic and diagnostic candidates. Founded in 1993 and headquartered in Tel Aviv, Israel, Compugen also maintains a presence in the United States to support its clinical development and commercial collaborations.

Compugen’s predictive discovery engine scans complex biological systems in silico to reveal previously unrecognized pathways and immune checkpoints involved in cancer progression.