Agenus (NASDAQ:AGEN) Stock Price Crosses Above 200-Day Moving Average - Here's What Happened

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) 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.

Analyst Ratings Changes

AGEN has been the subject of a number of analyst reports. Robert W. Baird lifted their target price on shares of Agenus from $4.00 to $6.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 4th. Wall Street Zen upgraded shares of Agenus from a "hold" rating to a "buy" rating in a report on Saturday. B. Riley reaffirmed a "buy" rating on shares of Agenus in a research report on Monday, April 21st. Finally, HC Wainwright raised shares of Agenus from a "neutral" rating to a "buy" rating and set a $25.00 price target on the stock in a research report on Wednesday, June 4th.

Agenus Trading Down 10.0%

The stock's fifty day moving average price is $5.42 and its 200 day moving average price is $3.67. The stock has a market cap of $118.45 million, a P/E ratio of -0.50 and a beta of 1.62.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Deutsche Bank AG lifted its holdings in shares of Agenus by 538.4% in the fourth quarter. Deutsche Bank AG now owns 61,144 shares of the biotechnology company's stock worth $168,000 after buying an additional 51,566 shares in the last quarter. Bank of Montreal Can bought a new stake in shares of Agenus in the 4th quarter valued at about $69,000. Gilead Sciences Inc. purchased a new position in shares of Agenus in the 4th quarter valued at approximately $635,000. B. Riley Financial Inc. purchased a new position in shares of Agenus in the 4th quarter valued at approximately $2,074,000. Finally, Bank of America Corp DE raised its position in Agenus by 34.0% during the 4th quarter. Bank of America Corp DE now owns 107,123 shares of the biotechnology company's stock worth $294,000 after buying an additional 27,157 shares during the last quarter. 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.