Compugen Ltd. (NASDAQ:CGEN) Short Interest Down 5.8% in August

Compugen Ltd. (NASDAQ:CGEN) saw a large decline in short interest in August. As of August 31st, there was short interest totalling 1,630,000 shares, a decline of 5.8% from the August 15th total of 1,730,000 shares. Based on an average daily trading volume, of 266,200 shares, the short-interest ratio is currently 6.1 days.

Institutional Trading of Compugen

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Squarepoint Ops LLC grew its stake in shares of Compugen by 23.4% during the 2nd quarter. Squarepoint Ops LLC now owns 85,693 shares of the biotechnology company’s stock valued at $144,000 after purchasing an additional 16,253 shares during the period. Rothschild Investment LLC bought a new position in Compugen during the second quarter valued at $380,000. ARK Investment Management LLC raised its position in Compugen by 4.7% in 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 period. Secure Asset Management LLC purchased a new position in Compugen during the 2nd quarter valued at $69,000. Finally, Heron Bay Capital Management bought a new position in shares of Compugen in the first quarter worth about $32,000. Hedge funds and other institutional investors own 12.22% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CGEN. StockNews.com raised shares of Compugen from a “hold” rating to a “buy” rating in a research note on Thursday, August 15th. Truist Financial decreased their price target on shares of Compugen from $5.00 to $4.00 and set a “buy” rating for the company in a research note on Tuesday, May 21st.

Compugen Price Performance

Shares of Compugen stock opened at $1.86 on Wednesday. The firm has a market cap of $165.99 million, a PE ratio of -9.79 and a beta of 2.65. Compugen has a 1 year low of $0.53 and a 1 year high of $3.03. The company has a 50 day simple moving average of $1.85 and a two-hundred day simple moving average of $2.07.

Compugen (NASDAQ:CGEN) last issued its earnings results on Tuesday, August 6th. The biotechnology company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.06. The firm had revenue of $6.70 million during the quarter, compared to analysts’ expectations of $2.68 million. During the same period in the previous year, the firm earned ($0.11) earnings per share. As a group, research analysts anticipate that Compugen will post 0.07 earnings per share for the current year.

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.