Compugen Ltd. (NASDAQ:CGEN – Get Free Report) was the target of a significant drop in short interest during the month of August. As of August 31st, there was short interest totalling 1,630,000 shares, a drop of 5.8% from the August 15th total of 1,730,000 shares. Based on an average trading volume of 266,200 shares, the short-interest ratio is currently 6.1 days.
Wall Street Analysts Forecast Growth
Separately, StockNews.com upgraded shares of Compugen from a “hold” rating to a “buy” rating in a report on Thursday, August 15th.
View Our Latest Stock Report on Compugen
Compugen Trading Up 2.2 %
Compugen (NASDAQ:CGEN – Get Free Report) last released its quarterly earnings data on Tuesday, August 6th. The biotechnology company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.06. The business had revenue of $6.70 million for the quarter, compared to analysts’ expectations of $2.68 million. During the same quarter in the prior year, the firm earned ($0.11) earnings per share. Equities analysts forecast that Compugen will post 0.07 EPS for the current fiscal year.
Institutional Investors Weigh In On Compugen
Several institutional investors and hedge funds have recently modified their holdings of the stock. Heron Bay Capital Management purchased a new position in Compugen in the 1st quarter worth approximately $32,000. Secure Asset Management LLC acquired a new position in shares of Compugen during the second quarter worth $69,000. Squarepoint Ops LLC boosted its stake in shares of Compugen by 23.4% in the second 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 acquired a new stake in Compugen during the 2nd quarter valued at $380,000. Finally, ARK Investment Management LLC increased its stake in Compugen by 4.7% during the 2nd quarter. ARK Investment Management LLC now owns 1,088,271 shares of the biotechnology company’s stock worth $1,850,000 after buying an additional 48,979 shares during the period. Hedge funds and other institutional investors own 12.22% of the company’s stock.
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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