Truist Financial Cuts Compugen (NASDAQ:CGEN) Price Target to $4.00

Compugen (NASDAQ:CGEN) had its price objective decreased by Truist Financial from $5.00 to $4.00 in a research report report published on Tuesday, Benzinga reports. Truist Financial currently has a buy rating on the biotechnology company’s stock.

Separately, StockNews.com lowered shares of Compugen from a buy rating to a hold rating in a report on Monday, May 13th.

Compugen Price Performance

Shares of CGEN opened at $2.27 on Tuesday. The business has a 50-day moving average of $2.22 and a 200-day moving average of $1.88. The company has a market capitalization of $196.63 million, a price-to-earnings ratio of -11.95 and a beta of 2.72. Compugen has a 1 year low of $0.53 and a 1 year high of $3.03.

Compugen (NASDAQ:CGEN) last released its earnings results on Tuesday, March 5th. The biotechnology company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.01. The firm had revenue of $33.46 million for the quarter, compared to analyst estimates of $60.00 million. As a group, sell-side analysts anticipate that Compugen will post 0.02 EPS for the current year.

Hedge Funds Weigh In On Compugen

Institutional investors and hedge funds have recently modified their holdings of the business. Heron Bay Capital Management bought a new position in Compugen in the first quarter worth approximately $32,000. Tocqueville Asset Management L.P. bought a new position in shares of Compugen in the 3rd quarter worth $71,000. Kingsview Wealth Management LLC acquired a new stake in Compugen in the 3rd quarter valued at $78,000. Finally, Silverarc Capital Management LLC increased its stake in Compugen by 6.1% during the 3rd quarter. Silverarc Capital Management LLC now owns 350,188 shares of the biotechnology company’s stock valued at $326,000 after purchasing an additional 20,000 shares in the last quarter. 12.22% of the stock is currently owned by 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.