Compugen Ltd. (NASDAQ:CGEN) Short Interest Down 5.8% in August

Compugen Ltd. (NASDAQ:CGEN) was the recipient of a significant decline in short interest during the month of August. As of August 31st, there was short interest totalling 1,630,000 shares, a decline 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

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

Compugen Price Performance

Shares of NASDAQ:CGEN opened at $1.84 on Friday. The stock’s 50-day moving average is $1.86 and its 200 day moving average is $2.06. The company has a market cap of $164.20 million, a PE ratio of -9.92 and a beta of 2.65. Compugen has a 1 year low of $0.53 and a 1 year high of $3.03.

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

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded 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.