Agenus (NASDAQ:AGEN) Shares Cross Above 200 Day Moving Average - Here's Why

Key Points

• Agenus Inc. shares crossed above their 200-day moving average of $3.65, peaking at $5.32 before last trading at $4.76, with a trading volume of 775,305 shares.
• Analyst upgrades include HC Wainwright raising the stock rating from "neutral" to "buy" with a target price of $25.00, while Robert W. Baird set a new price objective at $6.00.
• Agenus reported a quarterly earnings per share of ($1.03), outperforming analyst expectations, although revenue of $24.07 million fell short of estimates.

Agenus Inc. (NASDAQ:AGEN - Get Free Report)'s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $3.65 and traded as high as $5.32. Agenus shares last traded at $4.76, with a volume of 775,305 shares.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on AGEN shares. Robert W. Baird boosted their price objective on Agenus from $4.00 to $6.00 and gave the company a "neutral" rating in a research report on Wednesday, June 4th. B. Riley reaffirmed a "buy" rating on shares of Agenus in a report on Monday, April 21st. HC Wainwright raised shares of Agenus from a "neutral" rating to a "buy" rating and set a $25.00 target price for the company in a research note on Wednesday, June 4th. Finally, Wall Street Zen upgraded shares of Agenus from a "strong sell" rating to a "hold" rating in a research note on Thursday, May 22nd.

Agenus Price Performance

The business has a fifty day moving average price of $5.36 and a 200 day moving average price of $3.65. The company has a market capitalization of $130.52 million, a price-to-earnings ratio of -0.55 and a beta of 1.62.

Agenus (NASDAQ:AGEN - Get Free Report) last released its quarterly earnings results on Monday, May 12th. The biotechnology company reported ($1.03) EPS for the quarter, topping analysts' consensus estimates of ($1.61) by $0.58. The company had revenue of $24.07 million for the quarter, compared to the consensus estimate of $26.38 million. Research analysts anticipate that Agenus Inc. will post -12.55 earnings per share for the current year.

Institutional Trading of Agenus

Hedge funds and other institutional investors have recently modified their holdings of the company. Bank of Montreal Can bought a new position in Agenus during the fourth quarter valued at about $69,000. Barclays PLC boosted its position in shares of Agenus by 17.7% during the 4th quarter. Barclays PLC now owns 32,737 shares of the biotechnology company's stock valued at $90,000 after purchasing an additional 4,924 shares in the last quarter. Gilead Sciences Inc. acquired a new position in shares of Agenus in the 4th quarter worth approximately $635,000. Northern Trust Corp grew 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 purchasing an additional 26,870 shares during the last quarter. Finally, B. Riley Financial Inc. bought a new stake in shares of Agenus in the 4th quarter worth approximately $2,074,000. 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.

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