The stock of Compugen Ltd. (NASDAQ:CGEN) is now priced at $16.87 and the shares are 0.28 points up or 1.69% higher compared to its previous closing price of $16.59. The stock had 1.719 million contracts set over the past session. CGEN shares’ daily volume is compared to its average trading volume at 1.42 million shares. However, it has a float of 0 million and although its performance was -10.88% over the week, it’s one to watch. Analysts have given the CGEN stock a yearly average price target of $19.75 per share. It means the stock’s upside potential is 17.07% with the CGEN share price recently placing at $16.5901 to $17.48. However, some brokerage firms have priced the stock below the average, including one that has called $18.
The shorts are running away from the Compugen Ltd. stock, with the latest data on short interest released on August 14, 2020, showing that short interest numbers in the CGEN shares have declined. Short interest in the stock represents just 0% of its float, but the volume has dropped by -549591. The volume of shorted shares dropped to 6.132 million from 6.681 million shares over the last two weeks. The average intraday trading volume has been 1.415 million shares, which means that days to cover moved to roughly 4.333945.
In the last trading session, Compugen Ltd. (NASDAQ:CGEN) dropped by -$2.06 over the week and gained $2.46 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $19.9. The stock recorded its established 52-week high on 08/26/20.
Since 09/10/19, the stock has traded to a low of $3.64 at 363.81%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 2.71. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Compugen Ltd.’s two-week RSI is 49.1. This suggests that the stock is neutral at the moment and that CGEN shares’ price movement remains stable. The stochastic readings are equally revealing at 35.39% meaning the CGEN share price is currently in neutral territory.
The technical chart shows that the CGEN stock will likely settle at between $17.37 and $17.87 per share. However, if the stock dips below $16.48, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $16.09.
Currently, the stock is trading in the red of MACD, with a reading of -0.88. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Maxim Group assigned CGEN a rating of Mkt Outperform in their resuming review released on May 26. Stifel analysts see the stock as a Buy with a target price of $19 in a flash note released to investors on May 13 initiating covering the stock. SVB Leerink analysts see the stock as Outperform when the analysts initiated the share price coverage on May 07.
The average rating for the CGEN equity is 1.5 and is currently gathering a bullish momentum. Of 8 analysts tracking Compugen Ltd. polled by Reuters, 0 rated CGEN as a hold. The remaining 8 analysts were split evenly. However, the split wasn’t equal as a majority (8) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.