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Compugen Ltd. (NASDAQ: CGEN) Is A Blank Check For Growth

Compugen Ltd. (NASDAQ:CGEN) shares, rose in value on Wednesday, 05/24/23, with the stock price up by 13.28% to the previous day’s close as strong demand from buyers drove the stock to $0.93.

Actively observing the price movement in the last trading, the stock closed the session at $0.82, falling within a range of $0.8302 and $0.95. The value of beta (5-year monthly) was 2.71. Referring to stock’s 52-week performance, its high was $2.36, and the low was $0.51. On the whole, CGEN has fluctuated by 55.00% over the past month.

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With the market capitalization of Compugen Ltd. currently standing at about $80.52 million, investors are eagerly awaiting this quarter’s results, scheduled for May 15, 2023. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.12, which is expected to increase to -$0.11 for fiscal year -$0.39 and then to about -$0.64 by fiscal year 2024.

Wall Street analysts also predicted that in 2024, the company’s y-o-y revenues would reach $8.42 million, representing an increase of 12.30% from the revenues reported in the last year’s results.

Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that CGEN’s technical picture suggests that short-term indicators denote the stock is a Hold on average. However, medium term indicators have put the stock in the category of 50% Sell while long term indicators on average have been pointing out that it is a 50% Buy.

6 analyst(s) have assigned their ratings of the stock’s forecast evaluation on a scale of 1.00-5.00 to indicate a strong buy to a strong sell recommendation. The stock is rated as a Hold by 0 analyst(s), 5 recommend it as a Buy and 0 called the CGEN stock Overweight. In the meantime, 0 analyst(s) believe the stock as Underweight and 1 think it is a Sell. Thus, investors eager to increase their holdings of the company’s stock will have an opportunity to do so as the average rating for the stock is Overweight.

The stock’s technical analysis shows that the PEG ratio is about 0, with the price of CGEN currently trading nearly 33.80% and 36.09% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 78.08, while the 7-day volatility ratio is showing 8.89% which for the 30-day chart, stands at 9.55%. Furthermore, Compugen Ltd. (CGEN)’s beta value is 2.65, and its average true range (ATR) is 0.07. The company’s stock has been forecasted to trade at an average price of $5.75 over the course of the next 52 weeks, with a low of $0.50 and a high of $13.00. Based on these price targets, the low is 46.24% off current price, whereas the price has to move -1297.85% to reach the yearly target high. Additionally, analysts’ median price of $5.50 is likely to be welcomed by investors because it represents a decrease of -491.4% from the current levels.

A comparison of Compugen Ltd. (CGEN) with its peers suggests the former has fared considerably weaker in the market. CGEN showed an intraday change of 13.28% in last session, and over the past year, it shrunk by -50.27%%. In comparison, Seagen Inc. (SGEN) has moved lower at -0.54% on the day and was up 40.25% over the past 12 months. On the other hand, the price of Teva Pharmaceutical Industries Limited (TEVA) has fallen -1.56% on the day. The stock, however, is off -10.41% from where it was a year ago. Additionally, there is a loss of -0.02% for Evogene Ltd. (EVGN) in last trading while the stock has seen an overall depriciation of -34.35%% over the past year. Other than that, the overall performance of the S&P 500 during the last trading session shows that it lost -0.73%. Meanwhile, the Dow Jones Industrial Slipped by -0.77%.

Data on historical trading for Compugen Ltd. (NASDAQ:CGEN) indicates that the trading volumes over the past 10 days have averaged 0.59 million and over the past 3 months, they’ve averaged 272.39K. According to company’s latest data on outstanding shares, there are 86.62 million shares outstanding.

Nearly 12.00% of Compugen Ltd.’s shares belong to company insiders and institutional investors own 26.30% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 1.77 million shares as on Apr 27, 2023, resulting in a short ratio of 9.27. According to the data, the short interest in Compugen Ltd. (CGEN) stood at 2.04% of shares outstanding as of Apr 27, 2023; the number of short shares registered in Mar 30, 2023 reached 1.89 million. The stock has risen by 29.94% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the CGEN stock heading into the next quarter.

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