Compugen (NASDAQ:CGEN) Posts Earnings Results

Compugen (NASDAQ:CGEN – Get Free Report) announced its earnings results on Monday. The biotechnology company reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.01, FiscalAI reports. Compugen had a net margin of 47.97% and a return on equity of 47.72%. The business had revenue of $2.60 million during the quarter, compared to the consensus estimate of $1.28 million. During the same quarter last year, the firm earned ($0.08) earnings per share.

Here are the key takeaways from Compugen’s conference call:

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• MAIA-ovarian remains on track for an interim analysis by Q1 2027, with Compugen estimating placebo-arm median PFS at approximately four months and defining six months or more of PFS for COM701 as clinically meaningful.
• AstraZeneca expanded its rilvegostomig program to 12 Phase III trials with a new study in high-risk muscle-invasive urothelial cancer, supporting Compugen’s potential future milestones of $195 million and mid-single-digit tiered royalties.
• Rilvegostomig data presented at ASCO included 16.8 months of overall survival in first-line biliary tract cancer, which management characterized as encouraging versus historical survival of less than 13 months, although randomized Phase III data are still needed.
• Gilead’s GS-0321 anti-IL-18 binding protein program continues through Phase I dose escalation in monotherapy and combination settings, but Compugen said it remains too early to provide detailed clinical data or timing for disclosure.
• Compugen ended the quarter with approximately $125.3 million in cash and a projected operating runway into 2029; second-quarter revenue increased to $2.6 million while net loss narrowed to roughly $7.0 million.

Compugen Trading Up 1.3%

Shares of CGEN opened at $2.38 on Tuesday. The company has a market cap of $225.03 million, a price-to-earnings ratio of 6.43 and a beta of 2.77. The business’s fifty day simple moving average is $2.26 and its two-hundred day simple moving average is $2.27. Compugen has a 12 month low of $1.29 and a 12 month high of $3.23.

Hedge Funds Weigh In On Compugen

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Renaissance Technologies LLC raised its holdings in shares of Compugen by 3.7% during the fourth quarter. Renaissance Technologies LLC now owns 1,456,900 shares of the biotechnology company’s stock valued at $2,229,000 after purchasing an additional 51,565 shares during the last quarter. State Street Corp boosted its holdings in Compugen by 3.9% in the fourth quarter. State Street Corp now owns 393,802 shares of the biotechnology company’s stock worth $603,000 after purchasing an additional 14,701 shares during the last quarter. Jane Street Group LLC grew its position in Compugen by 1,077.0% in the 2nd quarter. Jane Street Group LLC now owns 393,191 shares of the biotechnology company’s stock worth $700,000 after purchasing an additional 359,785 shares during the period. Two Sigma Investments LP grew its position in Compugen by 10.6% in the 3rd quarter. Two Sigma Investments LP now owns 197,875 shares of the biotechnology company’s stock worth $291,000 after purchasing an additional 18,929 shares during the period. Finally, Marshall Wace LLP raised its stake in Compugen by 135.7% during the 4th quarter. Marshall Wace LLP now owns 106,304 shares of the biotechnology company’s stock valued at $163,000 after buying an additional 61,202 shares during the last quarter. Institutional investors own 12.22% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CGEN. Lake Street Capital began coverage on Compugen in a research report on Tuesday, April 7th. They set a “buy” rating and a $6.00 price objective for the company. Leerink Partners cut their target price on Compugen from $13.00 to $5.00 and set an “outperform” rating on the stock in a research note on Thursday, May 21st. Wall Street Zen downgraded Compugen from a “buy” rating to a “hold” rating in a report on Saturday, May 23rd. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Compugen in a research report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Compugen has an average rating of “Moderate Buy” and an average price target of $5.00.

Check Out Our Latest Research Report on Compugen

Compugen Company Profile

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Compugen Ltd. (NASDAQ: CGEN) is a clinical-stage therapeutic discovery company that leverages proprietary computational discovery platforms to identify novel immuno-oncology targets and biomarkers. The company combines large-scale biological datasets with machine learning algorithms to generate and validate new therapeutic and diagnostic candidates. Founded in 1993 and headquartered in Tel Aviv, Israel, Compugen also maintains a presence in the United States to support its clinical development and commercial collaborations.

Compugen’s predictive discovery engine scans complex biological systems in silico to reveal previously unrecognized pathways and immune checkpoints involved in cancer progression.

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