Compugen (NASDAQ:CGEN – Get Free Report) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Wednesday.
Separately, Truist Financial decreased their price target on Compugen from $5.00 to $4.00 and set a “buy” rating for the company in a research note on Tuesday, May 21st.
Read Our Latest Stock Analysis on CGEN
Compugen Stock Performance
Compugen (NASDAQ:CGEN – Get Free Report) last announced its earnings results on Tuesday, August 6th. The biotechnology company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.06. The firm had revenue of $6.70 million during the quarter, compared to analyst estimates of $2.68 million. During the same quarter last year, the business earned ($0.11) earnings per share. Analysts forecast that Compugen will post 0.05 EPS for the current fiscal year.
Hedge Funds Weigh In On Compugen
Several institutional investors have recently made changes to their positions in CGEN. Heron Bay Capital Management purchased a new position in Compugen during the first quarter worth approximately $32,000. Secure Asset Management LLC acquired a new position in shares of Compugen during the 2nd quarter worth approximately $69,000. ARK Investment Management LLC lifted its position in shares of Compugen by 4.7% during the 2nd quarter. ARK Investment Management LLC now owns 1,088,271 shares of the biotechnology company’s stock valued at $1,850,000 after buying an additional 48,979 shares in the last quarter. Finally, Rothschild Investment LLC acquired a new stake in Compugen in the 2nd quarter valued at $380,000. 12.22% of the stock is owned by hedge funds and other institutional investors.
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.
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