Compugen (NASDAQ:CGEN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Monday, Zacks.com reports.

According to Zacks, “Compugen Ltd. is a pioneer in the fields of computational genomics and proteomics. The company combines the disciplines of mathematics and computer science with molecular biology to improve the understanding of genomics and proteomics, the study of genes and proteins. Compugen’s expertise in these areas is used to develop core technologies and platforms that are the basis for its products and services. These products and services are designed to enable life scientists to significantly enhance their research efforts in drug discovery. “

NASDAQ:CGEN traded down $0.18 during trading hours on Monday, hitting $3.23. The company had a trading volume of 168,961 shares, compared to its average volume of 148,029. The company has a current ratio of 5.11, a quick ratio of 5.11 and a debt-to-equity ratio of 0.11. The business’s 50-day moving average price is $3.56. The firm has a market capitalization of $174.91 million, a P/E ratio of -7.88 and a beta of 2.66. Compugen has a 1 year low of $2.00 and a 1 year high of $4.31.

Compugen (NASDAQ:CGEN) last issued its earnings results on Monday, May 20th. The biotechnology company reported ($0.14) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.17) by $0.03. On average, equities analysts expect that Compugen will post -0.54 earnings per share for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Millennium Management LLC bought a new stake in shares of Compugen during the fourth quarter valued at approximately $60,000. Virtu Financial LLC bought a new stake in shares of Compugen during the first quarter valued at approximately $153,000. Defender Capital LLC. raised its position in shares of Compugen by 7.2% during the first quarter. Defender Capital LLC. now owns 311,333 shares of the biotechnology company’s stock valued at $1,299,000 after buying an additional 20,800 shares during the last quarter. Nikko Asset Management Americas Inc. raised its position in shares of Compugen by 14,153.9% during the first quarter. Nikko Asset Management Americas Inc. now owns 886,590 shares of the biotechnology company’s stock valued at $3,670,000 after buying an additional 880,370 shares during the last quarter. Finally, Stockman Wealth Management Inc. bought a new stake in shares of Compugen during the first quarter valued at approximately $286,000. Institutional investors and hedge funds own 27.91% of the company’s stock.

About Compugen

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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