Agenus (NASDAQ:AGEN) Share Price Crosses Above Two Hundred Day Moving Average - Should You Sell?

Key Points

• Agenus Inc.'s stock price has surpassed its 200-day moving average, currently trading at $4.39 after reaching a high of $4.55.
• Despite a 2.9% decline, Wall Street analysts have mixed ratings with a consensus rating of "Moderate Buy" and a target price of $15.50.
• The company reported a quarterly EPS of ($1.00), missing estimates, and revenue of $25.70 million, significantly below expectations of $49.71 million.

Agenus Inc. (NASDAQ:AGEN - Get Free Report) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $3.74 and traded as high as $4.55. Agenus shares last traded at $4.39, with a volume of 292,672 shares.

Analyst Ratings Changes

Several equities analysts have issued reports on AGEN shares. Robert W. Baird lifted their price target on shares of Agenus from $4.00 to $6.00 and gave the stock a "neutral" rating in a report on Wednesday, June 4th. Zacks Research raised shares of Agenus to a "hold" rating in a report on Tuesday, August 12th. HC Wainwright reissued a "buy" rating and set a $23.00 price objective on shares of Agenus in a report on Thursday. Finally, Wall Street Zen lowered shares of Agenus from a "buy" rating to a "hold" rating in a report on Sunday, August 17th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $14.50.

Agenus Price Performance

The company has a market capitalization of $133.17 million, a PE ratio of -0.58 and a beta of 1.44. The firm's fifty day simple moving average is $5.27 and its 200 day simple moving average is $3.77.

Agenus (NASDAQ:AGEN - Get Free Report) last posted its quarterly earnings results on Monday, August 11th. The biotechnology company reported ($1.00) EPS for the quarter, missing the consensus estimate of ($0.78) by ($0.22). The business had revenue of $25.70 million for the quarter, compared to the consensus estimate of $49.71 million. On average, equities research analysts anticipate that Agenus Inc. will post -12.55 EPS for the current fiscal year.

Institutional Investors Weigh In On Agenus

Several hedge funds have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC boosted its holdings in Agenus by 265.9% in the second quarter. Tower Research Capital LLC TRC now owns 21,871 shares of the biotechnology company's stock valued at $100,000 after purchasing an additional 15,893 shares during the last quarter. Captrust Financial Advisors purchased a new stake in Agenus in the second quarter valued at $169,000. Engineers Gate Manager LP purchased a new stake in Agenus in the second quarter valued at $108,000. Brevan Howard Capital Management LP purchased a new stake in Agenus in the second quarter valued at $207,000. Finally, Bank of America Corp DE boosted its holdings in Agenus by 110.0% in the second quarter. Bank of America Corp DE now owns 420,678 shares of the biotechnology company's stock valued at $1,922,000 after purchasing an additional 220,327 shares during the last quarter. 61.46% of the stock is owned by hedge funds and other institutional investors.

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.