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

Key Points

• Agenus shares crossed above its 200-day moving average (200-day = $3.68), trading as high as $4.20 and last at $3.89 on volume of 671,380 shares.
• The company beat quarterly estimates with EPS of $0.56 (vs. -$1.27 est.) and revenue of $34.2M (vs. $28.1M est.), but remains unprofitable with a negative net margin (-2.67%) and negative ROE.
• Analyst sentiment is mixed but averages a "Moderate Buy" rating with a consensus price target of $14.50.

Agenus Inc. (NASDAQ:AGEN - Get Free Report) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $3.68 and traded as high as $4.20. Agenus shares last traded at $3.89, with a volume of 671,380 shares traded.

Wall Street Analysts Forecast Growth

AGEN has been the topic of a number of recent research reports. Wall Street Zen raised shares of Agenus from a "hold" rating to a "buy" rating in a report on Monday, April 6th. Zacks Research raised shares of Agenus from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 2nd. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $14.50.

Agenus Stock Down 4.9%

The firm has a market cap of $149.38 million, a price-to-earnings ratio of -8.46 and a beta of 1.60. The stock's 50 day moving average is $3.63 and its 200 day moving average is $3.68.

Agenus (NASDAQ:AGEN - Get Free Report) last posted its quarterly earnings data on Monday, March 16th. The biotechnology company reported $0.56 EPS for the quarter, beating analysts' consensus estimates of ($1.27) by $1.83. Agenus had a negative net margin of 2.67% and a negative return on equity of 7.65%. The business had revenue of $34.20 million for the quarter, compared to analyst estimates of $28.10 million. Analysts anticipate that Agenus Inc. will post 1.3 earnings per share for the current fiscal year.

Institutional Trading of Agenus

Several institutional investors have recently modified their holdings of the company. LPL Financial LLC grew its holdings in Agenus by 20.3% during the fourth quarter. LPL Financial LLC now owns 23,326 shares of the biotechnology company's stock worth $73,000 after acquiring an additional 3,943 shares during the period. EP Wealth Advisors LLC acquired a new position in Agenus during the fourth quarter worth about $31,000. Jump Financial LLC acquired a new position in Agenus during the second quarter worth about $55,000. Traynor Capital Management Inc. acquired a new position in Agenus during the third quarter worth about $50,000. Finally, R Squared Ltd acquired a new position in Agenus during the fourth quarter worth about $41,000. Institutional investors and hedge funds own 61.46% of the company's stock.

Agenus Company Profile

Agenus, Inc NASDAQ: AGEN is a clinical-stage immuno-oncology company headquartered in Lexington, Massachusetts. The company focuses on the discovery and development of therapies designed to modulate the immune system's response to cancer. Leveraging proprietary platforms in checkpoint modulation, vaccine technology and adjuvant systems, Agenus aims to deliver combination regimens that enhance antitumor activity across a variety of solid tumors and hematological malignancies.

Agenus' pipeline includes monoclonal antibodies targeting immune checkpoints, cytokine-based therapeutics and vaccine candidates built on its engineered heat shock protein (HSP) platform.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.