Agenus (NASDAQ:AGEN) Stock Price Breaks Above Two Hundred Day Moving Average – Here’s What Happened

Shares of Agenus Inc. (NASDAQ:AGEN) crossed above its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $4.94 and traded as high as $8.68. Agenus shares last traded at $8.54, with a volume of 672,282 shares changing hands.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on AGEN shares. Weiss Ratings lowered Agenus from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, August 21st. B. Riley Financial reaffirmed a “buy” rating and set a $14.00 target price (up from $8.00) on shares of Agenus in a report on Thursday, July 30th. HC Wainwright reaffirmed a “buy” rating and set a $25.00 target price (down from $30.00) on shares of Agenus in a report on Tuesday, August 11th. Wall Street Zen cut shares of Agenus from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 17th. Finally, Chardan Capital initiated coverage on shares of Agenus in a report on Friday, September 18th. They set a “buy” rating and a $40.00 price target on the stock. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $26.33.

Agenus Trading Up 0.5%

The company has a market cap of $385.67 million, a price-to-earnings ratio of 3.31 and a beta of 1.38. The business has a fifty day moving average of $7.40 and a two-hundred day moving average of $4.94.

Agenus (NASDAQ:AGEN) last issued its quarterly earnings data on Friday, August 7th. The biotechnology company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.06). The business had revenue of $34.52 million during the quarter, compared to analyst estimates of $34.00 million. Agenus had a net margin of 69.33% and a negative return on equity of 47.68%. On average, research analysts forecast that Agenus Inc. will post -0.3 EPS for the current fiscal year.

Institutional Investors Weigh In On Agenus

A number of institutional investors have recently added to or reduced their stakes in the stock. Globeflex Capital L P acquired a new position in Agenus during the second quarter worth $1,281,000. Bank of New York Mellon Corp purchased a new stake in shares of Agenus during the second quarter worth about $311,000. Bank of America Corp DE raised its position in shares of Agenus by 796.7% during the 1st quarter. Bank of America Corp DE now owns 118,782 shares of the biotechnology company’s stock worth $397,000 after purchasing an additional 105,536 shares during the last quarter. Redwood Family Wealth LLC purchased a new position in Agenus in the 4th quarter valued at about $44,000. Finally, Ovata Capital Management Ltd purchased a new position in Agenus in the 4th quarter valued at about $97,000. Institutional investors and hedge funds own 61.46% of the company’s stock.

About Agenus

Agenus Inc (NASDAQ: AGEN) is a biotechnology company focused on developing immunotherapies for the treatment of cancer. Its research programs are designed to activate and direct the immune system against tumors, with an emphasis on therapies that may address immune resistance and improve responses in difficult-to-treat cancers.

The company’s pipeline has included checkpoint inhibitors, cancer vaccines, immune-stimulating adjuvants, bispecific antibodies and other antibody-based therapies.