Cornerstone Investment Partners LLC bought a new position in shares of Compugen Ltd. (NASDAQ:CGEN) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 17,500 shares of the biotechnology company’s stock, valued at approximately $38,000.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Renaissance Technologies LLC grew its stake in shares of Compugen by 8.2% in the third quarter. Renaissance Technologies LLC now owns 265,100 shares of the biotechnology company’s stock worth $1,021,000 after purchasing an additional 20,200 shares during the last quarter. Morgan Stanley grew its stake in shares of Compugen by 2.8% in the third quarter. Morgan Stanley now owns 998,173 shares of the biotechnology company’s stock worth $3,843,000 after purchasing an additional 27,240 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of Compugen in the third quarter worth $128,000. Aviance Capital Management LLC bought a new stake in shares of Compugen in the third quarter worth $151,000. Finally, ARK Investment Management LLC grew its stake in shares of Compugen by 28.5% in the third quarter. ARK Investment Management LLC now owns 6,904,667 shares of the biotechnology company’s stock worth $26,583,000 after purchasing an additional 1,531,793 shares during the last quarter. 21.68% of the stock is currently owned by hedge funds and other institutional investors.
CGEN traded down $0.06 during trading on Friday, reaching $2.96. 1,531 shares of the stock traded hands, compared to its average volume of 197,189. The stock has a market capitalization of $142.60 million, a P/E ratio of -4.03 and a beta of 1.77. Compugen Ltd. has a 12 month low of $2.00 and a 12 month high of $5.00.
Compugen (NASDAQ:CGEN) last issued its quarterly earnings results on Wednesday, November 7th. The biotechnology company reported ($0.05) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.12) by $0.07. The firm had revenue of $7.80 million for the quarter, compared to the consensus estimate of $7.80 million. As a group, research analysts forecast that Compugen Ltd. will post -0.44 EPS for the current fiscal year.
CGEN has been the topic of a number of research analyst reports. Zacks Investment Research raised shares of Compugen from a “hold” rating to a “buy” rating and set a $4.00 price target on the stock in a research report on Tuesday, October 16th. Oppenheimer set a $9.00 price target on shares of Compugen and gave the company a “buy” rating in a research report on Wednesday, November 7th. Finally, ValuEngine raised shares of Compugen from a “sell” rating to a “hold” rating in a research report on Wednesday, January 2nd.
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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