Agenus (NASDAQ:AGEN) Cut to “Neutral” at HC Wainwright

Agenus (NASDAQ:AGEN) was downgraded by HC Wainwright from a “buy” rating to a “neutral” rating in a note issued to investors on Thursday, Marketbeat reports. They currently have a $9.00 target price on the biotechnology company’s stock, down from their previous target price of $40.00. HC Wainwright’s price target points to a potential upside of 13.64% from the company’s current price.

Separately, StockNews.com assumed coverage on shares of Agenus in a research note on Wednesday, April 17th. They set a “hold” rating on the stock.

Agenus Trading Down 55.3 %

Shares of Agenus stock traded down $9.81 on Thursday, reaching $7.92. 6,914,966 shares of the stock were exchanged, compared to its average volume of 711,705. Agenus has a 1-year low of $4.78 and a 1-year high of $34.80. The business has a fifty day moving average price of $14.51 and a two-hundred day moving average price of $12.97. The firm has a market capitalization of $166.32 million, a PE ratio of -0.62 and a beta of 1.32.

Agenus (NASDAQ:AGEN) last issued its quarterly earnings results on Tuesday, May 7th. The biotechnology company reported ($3.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($3.58) by $0.54. The firm had revenue of $28.01 million for the quarter, compared to analyst estimates of $40.70 million. Research analysts expect that Agenus will post -9.7 EPS for the current year.

Institutional Trading of Agenus

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Agenus by 13.7% during the first quarter. Vanguard Group Inc. now owns 34,401,122 shares of the biotechnology company’s stock worth $19,953,000 after buying an additional 4,134,232 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in Agenus by 3,008.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 2,306,248 shares of the biotechnology company’s stock worth $1,909,000 after buying an additional 2,232,064 shares in the last quarter. Readystate Asset Management LP boosted its holdings in Agenus by 14.3% during the fourth quarter. Readystate Asset Management LP now owns 2,016,783 shares of the biotechnology company’s stock worth $1,670,000 after buying an additional 252,124 shares in the last quarter. Cardinal Strategic Wealth Guidance boosted its holdings in Agenus by 28.2% during the fourth quarter. Cardinal Strategic Wealth Guidance now owns 910,265 shares of the biotechnology company’s stock worth $754,000 after buying an additional 200,000 shares in the last quarter. Finally, Key Client Fiduciary Advisors LLC lifted its holdings in shares of Agenus by 38.0% in the first quarter. Key Client Fiduciary Advisors LLC now owns 858,969 shares of the biotechnology company’s stock valued at $498,000 after purchasing an additional 236,500 shares in the last quarter. Hedge funds and other institutional investors own 61.46% of the company’s stock.

About Agenus

Agenus Inc, a clinical-stage biotechnology company, discovers and develops immuno-oncology products in the United States and internationally. The company offers Retrocyte Display, an antibody expression platform for the identification of fully human and humanized monoclonal antibodies; and display technologies.