Short Interest in Compugen Ltd. (NASDAQ:CGEN) Expands By 11.8%

Compugen Ltd. (NASDAQ:CGEN) saw a significant increase in short interest during the month of March. As of March 31st, there was short interest totalling 2,090,000 shares, an increase of 11.8% from the March 15th total of 1,870,000 shares. Based on an average daily trading volume, of 651,500 shares, the short-interest ratio is currently 3.2 days.

Institutional Investors Weigh In On Compugen

Several hedge funds and other institutional investors have recently modified their holdings of CGEN. Envestnet Asset Management Inc. raised its holdings in shares of Compugen by 23.4% in the first quarter. Envestnet Asset Management Inc. now owns 33,260 shares of the biotechnology company’s stock worth $111,000 after buying an additional 6,299 shares during the period. Advisor Group Holdings Inc. raised its holdings in shares of Compugen by 29.3% in the first quarter. Advisor Group Holdings Inc. now owns 27,241 shares of the biotechnology company’s stock worth $87,000 after buying an additional 6,174 shares during the period. Swiss National Bank increased its holdings in Compugen by 9.0% during the 1st quarter. Swiss National Bank now owns 199,600 shares of the biotechnology company’s stock worth $643,000 after purchasing an additional 16,400 shares during the period. JPMorgan Chase & Co. increased its holdings in Compugen by 78.4% during the 1st quarter. JPMorgan Chase & Co. now owns 297,110 shares of the biotechnology company’s stock worth $957,000 after purchasing an additional 130,564 shares during the period. Finally, Panagora Asset Management Inc. purchased a new position in Compugen during the 1st quarter worth $152,000. 12.22% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on CGEN shares. Stifel Nicolaus increased their price target on Compugen from $3.00 to $4.00 and gave the company a “buy” rating in a research note on Tuesday, December 19th. StockNews.com raised Compugen from a “hold” rating to a “buy” rating in a research note on Wednesday, March 6th.

Compugen Price Performance

Shares of NASDAQ:CGEN traded up $0.07 during trading on Tuesday, hitting $2.03. The company had a trading volume of 451,043 shares, compared to its average volume of 650,892. The stock has a market cap of $175.84 million, a price-to-earnings ratio of -9.23 and a beta of 2.64. Compugen has a one year low of $0.53 and a one year high of $3.03. The company has a fifty day simple moving average of $2.47 and a two-hundred day simple moving average of $1.66.

Compugen (NASDAQ:CGEN) last posted its quarterly earnings data on Tuesday, March 5th. The biotechnology company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.01. The company had revenue of $33.46 million during the quarter, compared to the consensus estimate of $60.00 million. On average, equities research analysts anticipate that Compugen will post 0.02 earnings per share for the current year.

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.