Compugen (NASDAQ:CGEN) Share Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Compugen Ltd. (NASDAQ:CGEN)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $1.82 and traded as high as $2.25. Compugen shares last traded at $2.22, with a volume of 407,537 shares changing hands.

Analysts Set New Price Targets

Separately, Oppenheimer started coverage on Compugen in a report on Monday, January 13th. They issued an “outperform” rating and a $4.00 price target for the company.

Compugen Price Performance

The stock has a market cap of $199.01 million, a price-to-earnings ratio of 111.50 and a beta of 2.65. The firm has a fifty day moving average of $1.96 and a 200 day moving average of $1.82.

Institutional Investors Weigh In On Compugen

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Silverarc Capital Management LLC grew its position in Compugen by 8.2% in the fourth quarter. Silverarc Capital Management LLC now owns 1,624,377 shares of the biotechnology company’s stock worth $2,485,000 after acquiring an additional 123,264 shares during the period. Northern Trust Corp grew its position in Compugen by 936.9% in the fourth quarter. Northern Trust Corp now owns 941,825 shares of the biotechnology company’s stock worth $1,441,000 after acquiring an additional 850,997 shares during the period. Millennium Management LLC grew its position in Compugen by 77.5% in the fourth quarter. Millennium Management LLC now owns 359,397 shares of the biotechnology company’s stock worth $550,000 after acquiring an additional 156,959 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its position in Compugen by 15.7% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 317,500 shares of the biotechnology company’s stock worth $486,000 after acquiring an additional 43,165 shares during the period. Finally, Squarepoint Ops LLC grew its position in Compugen by 74.0% in the fourth quarter. Squarepoint Ops LLC now owns 290,659 shares of the biotechnology company’s stock worth $445,000 after acquiring an additional 123,641 shares during the period. Institutional investors and hedge funds 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.