Agenus (NASDAQ:AGEN) Cut to "Hold" at Wall Street Zen

Key Points

• Agenus has been downgraded from a "buy" rating to a "hold" rating by Wall Street Zen, while several other analysts maintain mixed ratings with a consensus target price of $15.50.
• The biotechnology company reported a loss of ($1.00) earnings per share for the last quarter, significantly below analysts' expectations, along with revenue of $25.70 million against an estimated $49.71 million.
• Recent hedge fund activity indicates growing interest in Agenus, with notable acquisitions and increased positions by firms like B. Riley Financial and AQR Capital Management, leading to 61.46% of the stock being owned by institutional investors.

Agenus (NASDAQ:AGEN - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report released on Sunday.

A number of other brokerages also recently weighed in on AGEN. HC Wainwright raised shares of Agenus from a "neutral" rating to a "buy" rating and set a $25.00 price objective for the company in a research report on Wednesday, June 4th. Robert W. Baird upped their target price on shares of Agenus from $4.00 to $6.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 4th. Zacks Research upgraded shares of Agenus to a "hold" rating in a research report on Tuesday, August 12th. Finally, B. Riley restated a "buy" rating on shares of Agenus in a research report on Monday, April 21st. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $15.50.

Agenus Price Performance

Shares of NASDAQ:AGEN traded down $0.01 during trading on Friday, reaching $4.50. 20,883 shares of the company's stock traded hands, compared to its average volume of 821,975. Agenus has a 12 month low of $1.38 and a 12 month high of $7.34. The company has a 50 day moving average of $5.31 and a 200-day moving average of $3.72. The stock has a market capitalization of $143.39 million, a P/E ratio of -0.63 and a beta of 1.62.

Agenus (NASDAQ:AGEN - Get Free Report) last announced its quarterly earnings data on Monday, August 11th. The biotechnology company reported ($1.00) earnings per share for the quarter, missing analysts' consensus estimates of ($0.78) by ($0.22). The company had revenue of $25.70 million for the quarter, compared to analyst estimates of $49.71 million. Equities research analysts predict that Agenus will post -12.55 earnings per share for the current fiscal year.

Institutional Trading of Agenus

Institutional investors have recently made changes to their positions in the stock. Deutsche Bank AG lifted its stake in shares of Agenus by 538.4% in the 4th quarter. Deutsche Bank AG now owns 61,144 shares of the biotechnology company's stock worth $168,000 after acquiring an additional 51,566 shares during the period. Bank of Montreal Can acquired a new stake in shares of Agenus in the 4th quarter worth approximately $69,000. B. Riley Financial Inc. acquired a new stake in shares of Agenus in the 4th quarter worth approximately $2,074,000. Bank of America Corp DE lifted its stake in shares of Agenus by 34.0% in the 4th quarter. Bank of America Corp DE now owns 107,123 shares of the biotechnology company's stock worth $294,000 after acquiring an additional 27,157 shares during the period. Finally, Northern Trust Corp lifted its stake in shares of Agenus by 14.8% in the 4th quarter. Northern Trust Corp now owns 208,933 shares of the biotechnology company's stock worth $572,000 after acquiring an additional 26,870 shares during the period. 61.46% of the stock is owned by institutional investors and hedge funds.

Agenus Company Profile

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.