R Squared Ltd Acquires New Position in Compugen Ltd. $CGEN

R Squared Ltd acquired a new stake in shares of Compugen Ltd. (NASDAQ:CGEN) in the second quarter, HoldingsChannel reports. The institutional investor acquired 40,008 shares of the biotechnology company’s stock, valued at approximately $71,000.

A number of other large investors also recently added to or reduced their stakes in the business. ARK Investment Management LLC lifted its holdings in Compugen by 20.6% in the 2nd quarter. ARK Investment Management LLC now owns 1,072,776 shares of the biotechnology company’s stock worth $1,785,000 after purchasing an additional 183,107 shares in the last quarter. Schnieders Capital Management LLC purchased a new position in Compugen in the 1st quarter worth approximately $131,000. US Bancorp DE purchased a new position in Compugen in the 1st quarter worth approximately $29,000. Finally, Calamos Wealth Management LLC purchased a new position in Compugen in the 1st quarter worth approximately $43,000. 12.22% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CGEN. Wall Street Zen cut Compugen from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of Compugen in a report on Friday. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, Compugen has a consensus rating of “Hold” and a consensus price target of $4.00.

Compugen Price Performance

Shares of CGEN opened at $1.80 on Monday. The stock has a market capitalization of $160.63 million, a price-to-earnings ratio of -8.18 and a beta of 2.61. Compugen Ltd. has a 1 year low of $1.13 and a 1 year high of $2.66. The business’s 50 day simple moving average is $1.57 and its 200-day simple moving average is $1.54.

Compugen (NASDAQ:CGEN) last issued its quarterly earnings data on Wednesday, August 6th. The biotechnology company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.01). Compugen had a negative return on equity of 34.77% and a negative net margin of 87.45%.The firm had revenue of $1.26 million for the quarter, compared to analysts’ expectations of $3.95 million. On average, sell-side analysts expect that Compugen Ltd. will post -0.03 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.