Compugen Ltd. (NASDAQ:CGEN) Sees Significant Drop in Short Interest

Compugen Ltd. (NASDAQ:CGEN) was the recipient of a large 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 daily volume of 266,200 shares, the days-to-cover ratio is currently 6.1 days.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. ARK Investment Management LLC lifted its holdings in shares of Compugen by 4.7% during the second quarter. ARK Investment Management LLC now owns 1,088,271 shares of the biotechnology company’s stock worth $1,850,000 after purchasing an additional 48,979 shares during the period. Rothschild Investment LLC purchased a new position in Compugen in the second quarter valued at about $380,000. Squarepoint Ops LLC raised its holdings in Compugen by 23.4% during the second quarter. Squarepoint Ops LLC now owns 85,693 shares of the biotechnology company’s stock worth $144,000 after purchasing an additional 16,253 shares during the last quarter. Secure Asset Management LLC purchased a new stake in shares of Compugen in the 2nd quarter worth about $69,000. Finally, Heron Bay Capital Management purchased a new stake in shares of Compugen in the first quarter valued at about $32,000. Institutional investors and hedge funds own 12.22% of the company’s stock.

Compugen Stock Performance

Compugen stock opened at $1.86 on Wednesday. Compugen has a 1 year low of $0.53 and a 1 year high of $3.03. The company’s 50 day simple moving average is $1.85 and its 200-day simple moving average is $2.07. The company has a market capitalization of $165.99 million, a price-to-earnings ratio of -9.79 and a beta of 2.65.

Compugen (NASDAQ:CGEN) last issued its quarterly earnings results on Tuesday, August 6th. The biotechnology company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.06. The company had revenue of $6.70 million for the quarter, compared to analysts’ expectations of $2.68 million. During the same quarter last year, the company earned ($0.11) EPS. Equities analysts expect that Compugen will post 0.07 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on CGEN shares. Truist Financial lowered their price target on shares of Compugen from $5.00 to $4.00 and set a “buy” rating on the stock in a report on Tuesday, May 21st. StockNews.com raised shares of Compugen from a “hold” rating to a “buy” rating in a report on Thursday, August 15th.

About Compugen

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.