Compugen (NASDAQ:CGEN) Releases Earnings Results, Beats Expectations By $0.55 EPS

Compugen (NASDAQ:CGEN) released its quarterly earnings data on Monday. The biotechnology company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.55, FiscalAI reports. The business had revenue of $67.33 million for the quarter, compared to analyst estimates of $14.30 million. Compugen had a negative net margin of 400.10% and a negative return on equity of 53.60%.

Compugen Stock Up 1.1%

Shares of Compugen stock opened at $1.81 on Monday. The business has a fifty day simple moving average of $1.78 and a two-hundred day simple moving average of $1.65. Compugen has a 1 year low of $1.13 and a 1 year high of $2.38.

Institutional Trading of Compugen

A number of hedge funds have recently modified their holdings of the stock. Marshall Wace LLP grew its stake in Compugen by 135.7% in the 4th quarter. Marshall Wace LLP now owns 106,304 shares of the biotechnology company’s stock valued at $163,000 after buying an additional 61,202 shares during the last quarter. State Street Corp boosted its holdings in shares of Compugen by 3.9% during the fourth quarter. State Street Corp now owns 393,802 shares of the biotechnology company’s stock worth $603,000 after acquiring an additional 14,701 shares during the period. Renaissance Technologies LLC grew its position in shares of Compugen by 3.7% in the fourth quarter. Renaissance Technologies LLC now owns 1,456,900 shares of the biotechnology company’s stock valued at $2,229,000 after purchasing an additional 51,565 shares during the last quarter. Two Sigma Investments LP increased its stake in shares of Compugen by 10.6% during the third quarter. Two Sigma Investments LP now owns 197,875 shares of the biotechnology company’s stock worth $291,000 after purchasing an additional 18,929 shares during the period. Finally, Jane Street Group LLC increased its stake in shares of Compugen by 1,077.0% during the second quarter. Jane Street Group LLC now owns 393,191 shares of the biotechnology company’s stock worth $700,000 after purchasing an additional 359,785 shares during the period. Institutional investors and hedge funds own 12.22% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on CGEN shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Compugen in a research report on Wednesday, January 21st. HC Wainwright initiated coverage on Compugen in a report on Wednesday, January 7th. They set a “buy” rating and a $4.00 target price on the stock. Finally, Wall Street Zen raised Compugen from a “sell” rating to a “hold” rating in a research report on Saturday, November 15th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Compugen presently has a consensus rating of “Hold” and a consensus price target of $4.00.

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.