Gilead Sciences Inc. Makes New $635,000 Investment in Agenus Inc. (NASDAQ:AGEN)

Gilead Sciences Inc. bought a new stake in Agenus Inc. (NASDAQ:AGEN - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 231,663 shares of the biotechnology company's stock, valued at approximately $635,000. Agenus makes up approximately 0.0% of Gilead Sciences Inc.'s investment portfolio, making the stock its 15th largest position. Gilead Sciences Inc. owned approximately 0.99% of Agenus as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in AGEN. Barclays PLC lifted its stake in Agenus by 17.7% in the fourth quarter. Barclays PLC now owns 32,737 shares of the biotechnology company's stock valued at $90,000 after acquiring an additional 4,924 shares during the last quarter. Bank of Montreal Can bought a new stake in shares of Agenus in the fourth quarter valued at approximately $69,000. Virtu Financial LLC acquired a new position in shares of Agenus during the fourth quarter valued at about $51,000. Apollon Wealth Management LLC acquired a new position in Agenus in the 4th quarter valued at approximately $55,000. Finally, Geode Capital Management LLC lifted its position in Agenus by 7.1% in the third quarter. Geode Capital Management LLC now owns 483,059 shares of the biotechnology company's stock worth $2,648,000 after purchasing an additional 32,016 shares during the period. 61.46% of the stock is owned by hedge funds and other institutional investors.

Agenus Price Performance

Shares of Agenus stock traded up $0.11 during trading on Wednesday, hitting $2.98. 1,092,984 shares of the company were exchanged, compared to its average volume of 606,949. The firm has a market capitalization of $75.42 million, a P/E ratio of -0.27 and a beta of 1.58. The firm's fifty day moving average price is $2.18 and its 200 day moving average price is $3.07. Agenus Inc. has a 1-year low of $1.38 and a 1-year high of $19.69.

Agenus (NASDAQ:AGEN - Get Free Report) last released its quarterly earnings results on Tuesday, March 11th. The biotechnology company reported ($2.04) earnings per share for the quarter, beating the consensus estimate of ($2.36) by $0.32. The company had revenue of $26.84 million during the quarter, compared to analyst estimates of $30.09 million. As a group, equities research analysts anticipate that Agenus Inc. will post -12.55 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on AGEN shares. StockNews.com upgraded Agenus from a "sell" rating to a "hold" rating in a research note on Friday, March 21st. Robert W. Baird lowered their target price on Agenus from $6.00 to $3.00 and set a "neutral" rating for the company in a research note on Wednesday, March 12th. HC Wainwright reiterated a "neutral" rating on shares of Agenus in a research report on Tuesday, March 18th. Finally, B. Riley reiterated a "buy" rating on shares of Agenus in a research report on Monday. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $8.75.

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.