Agenus (NASDAQ:AGEN) Stock Price Passes Above 200-Day Moving Average - Here's Why

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) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-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 trading hands.

Analysts Set New Price Targets

AGEN has been the topic of a number of research analyst reports. HC Wainwright reiterated a "buy" rating and issued a $23.00 target price on shares of Agenus in a research note on Thursday. Wall Street Zen downgraded shares of Agenus from a "buy" rating to a "hold" rating in a research note on Sunday, August 17th. Zacks Research upgraded shares of Agenus to a "hold" rating in a research note on Tuesday, August 12th. Finally, 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. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $14.50.

Agenus Price Performance

The stock has a market capitalization of $133.17 million, a PE ratio of -0.58 and a beta of 1.62. The business's fifty day moving average price is $5.28 and its 200-day moving average price is $3.76.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. B. Riley Financial Inc. purchased a new position in shares of Agenus during the 4th quarter valued at about $2,074,000. Siren L.L.C. purchased a new position in shares of Agenus during the 1st quarter valued at about $752,000. Marshall Wace LLP purchased a new position in shares of Agenus during the 2nd quarter valued at about $1,976,000. AQR Capital Management LLC raised its holdings in shares of Agenus by 3,080.3% during the 1st quarter. AQR Capital Management LLC now owns 441,486 shares of the biotechnology company's stock valued at $664,000 after buying an additional 427,604 shares in the last quarter. Finally, Bank of America Corp DE raised its holdings in shares of Agenus by 110.0% during the 2nd quarter. Bank of America Corp DE now owns 420,678 shares of the biotechnology company's stock valued at $1,922,000 after buying an additional 220,327 shares in the last quarter. Hedge funds and other institutional investors own 61.46% of the company's stock.

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.