Compugen (CGEN) Trading Down 11.6%

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Shares of Compugen Ltd. (NASDAQ:CGEN) dropped 11.6% during mid-day trading on Monday . The stock traded as low as $3.40 and last traded at $3.51. Approximately 521,613 shares were traded during mid-day trading, an increase of 199% from the average daily volume of 174,204 shares. The stock had previously closed at $3.97.

CGEN has been the topic of several recent research reports. ValuEngine downgraded Compugen from a “hold” rating to a “sell” rating in a research note on Friday, December 21st. Zacks Investment Research raised Compugen from a “hold” rating to a “strong-buy” rating and set a $2.75 price target on the stock in a research note on Thursday, January 3rd. Finally, Oppenheimer set a $9.00 price target on Compugen and gave the company a “buy” rating in a research note on Tuesday, February 26th.

The company has a market cap of $182.08 million, a PE ratio of -8.66 and a beta of 2.55.

Compugen (NASDAQ:CGEN) last released its quarterly earnings results on Tuesday, February 26th. The biotechnology company reported ($0.16) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.21) by $0.05. As a group, equities analysts forecast that Compugen Ltd. will post -0.57 EPS for the current year.

Several large investors have recently added to or reduced their stakes in CGEN. RBF Capital LLC acquired a new stake in shares of Compugen in the fourth quarter valued at about $30,000. Cornerstone Investment Partners LLC acquired a new stake in shares of Compugen in the fourth quarter valued at about $38,000. Millennium Management LLC acquired a new stake in shares of Compugen in the fourth quarter valued at about $60,000. Aviance Capital Management LLC increased its position in shares of Compugen by 43.8% in the fourth quarter. Aviance Capital Management LLC now owns 56,515 shares of the biotechnology company’s stock valued at $123,000 after acquiring an additional 17,206 shares during the last quarter. Finally, Jane Street Group LLC acquired a new stake in shares of Compugen in the third quarter valued at about $128,000. 22.87% of the stock is currently owned by institutional investors and hedge funds.

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About Compugen (NASDAQ:CGEN)

Compugen Ltd., a therapeutic discovery company, engages in the research, development, and commercialization of therapeutic and product candidates in Israel and Europe. The company's therapeutic pipeline consists of immuno-oncology programs against novel drug targets in the areas of unmet medical needs in various cancer types and patient populations.

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