Compugen Ltd. (NASDAQ:CGEN) Sees Large Growth in Short Interest

Compugen Ltd. (NASDAQ:CGEN) was the target of a significant increase in short interest in September. As of September 15th, there was short interest totalling 1,880,000 shares, an increase of 15.3% from the August 31st total of 1,630,000 shares. Based on an average daily trading volume, of 256,200 shares, the days-to-cover ratio is currently 7.3 days.

Compugen Trading Up 3.1 %

Shares of CGEN stock traded up $0.05 during trading hours on Friday, hitting $1.81. The company’s stock had a trading volume of 345,230 shares, compared to its average volume of 436,472. The business has a fifty day moving average of $1.85 and a 200-day moving average of $2.01. The stock has a market cap of $161.08 million, a price-to-earnings ratio of -9.50 and a beta of 2.65. Compugen has a twelve month low of $0.53 and a twelve month high of $3.03.

Compugen (NASDAQ:CGEN) last posted its quarterly earnings results on Tuesday, August 6th. The biotechnology company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates 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 period in the prior year, the business earned ($0.11) EPS. On average, equities analysts expect that Compugen will post 0.15 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Compugen from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CGEN. Heron Bay Capital Management bought a new stake in Compugen in the 1st quarter valued at about $32,000. Squarepoint Ops LLC lifted its position in shares of Compugen by 23.4% in the 2nd quarter. Squarepoint Ops LLC now owns 85,693 shares of the biotechnology company’s stock valued at $144,000 after acquiring an additional 16,253 shares in the last quarter. Secure Asset Management LLC purchased a new stake in shares of Compugen in the 2nd quarter valued at approximately $69,000. ARK Investment Management LLC lifted its position in shares of Compugen by 4.7% in the 2nd quarter. ARK Investment Management LLC now owns 1,088,271 shares of the biotechnology company’s stock valued at $1,850,000 after acquiring an additional 48,979 shares in the last quarter. Finally, Rothschild Investment LLC acquired a new position in Compugen in the 2nd quarter valued at approximately $380,000. 12.22% of the stock is owned by institutional investors and hedge funds.

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.