Compugen (NASDAQ:CGEN) Stock Price Down 3.7% on Analyst Downgrade
Compugen Ltd. (NASDAQ:CGEN)’s share price was down 3.7% during trading on Tuesday after SVB Leerink lowered their price target on the stock from $19.00 to $16.00. SVB Leerink currently has an outperform rating on the stock. Compugen traded as low as $8.79 and last traded at $8.82. Approximately 7,289 shares traded hands during mid-day trading, a decline of 100% from the average daily volume of 1,459,532 shares. The stock had previously closed at $9.16.
CGEN has been the topic of a number of other research reports. Oppenheimer restated a “buy” rating and issued a $19.00 price target on shares of Compugen in a research report on Wednesday, March 17th. Zacks Investment Research cut Compugen from a “hold” rating to a “sell” rating in a report on Thursday, April 1st. One investment analyst has rated the stock with a sell rating and seven have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $20.00.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Arrowstreet Capital Limited Partnership bought a new stake in Compugen during the 3rd quarter worth approximately $228,000. UBS Asset Management Americas Inc. raised its position in Compugen by 32.6% in the 3rd quarter. UBS Asset Management Americas Inc. now owns 76,450 shares of the biotechnology company’s stock valued at $1,242,000 after buying an additional 18,800 shares during the last quarter. Taylor Frigon Capital Management LLC lifted its stake in Compugen by 10.6% during the 4th quarter. Taylor Frigon Capital Management LLC now owns 570,793 shares of the biotechnology company’s stock valued at $6,912,000 after acquiring an additional 54,649 shares in the last quarter. Nikko Asset Management Americas Inc. lifted its stake in Compugen by 0.3% during the 4th quarter. Nikko Asset Management Americas Inc. now owns 7,028,228 shares of the biotechnology company’s stock valued at $85,112,000 after acquiring an additional 21,748 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Compugen in the 4th quarter worth $130,000. Institutional investors own 63.35% of the company’s stock.
Compugen (NASDAQ:CGEN) last announced its quarterly earnings data on Thursday, February 25th. The biotechnology company reported ($0.10) EPS for the quarter, hitting the consensus estimate of ($0.10). The company had revenue of $2.00 million during the quarter. During the same quarter last year, the company posted ($0.10) earnings per share. The business’s revenue for the quarter was up 19900.0% on a year-over-year basis. On average, research analysts predict that Compugen Ltd. will post -0.37 EPS for the current year.
About Compugen (NASDAQ:CGEN)
Compugen Ltd., a clinical-stage therapeutic discovery and development company, engages in the research, development, and commercialization of 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; BAY 1905254, a therapeutic antibody targeting ILDR2, which is in Phase I clinical study in patients with solid tumors; and COM902, a therapeutic antibody targeting TIGIT.
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