Agenus (NASDAQ:AGEN) Shares Cross Above 200-Day Moving Average - Should You Sell?

Key Points

• Agenus shares climbed above their 200-day moving average, reaching $8.68 and closing near $8.54, compared with a 200-day average of $4.94.
• Analyst sentiment is mixed: three analysts rate the stock Buy, while others rate it Hold or Sell. The consensus rating is Hold, with a $26.33 target price.
• The company slightly exceeded quarterly revenue expectations but missed on earnings, reporting a $0.01-per-share loss versus the expected $0.05 profit. Institutional investors own 61.46% of Agenus shares.

Agenus Inc. (NASDAQ:AGEN - Get Free Report) crossed above its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $4.94 and traded as high as $8.68. Agenus shares last traded at $8.54, with a volume of 672,282 shares changing hands.

Wall Street Analyst Weigh In

A number of analysts have recently commented on AGEN shares. HC Wainwright reissued a "buy" rating and issued a $25.00 price target (down from $30.00) on shares of Agenus in a research report on Tuesday, August 11th. Chardan Capital started coverage on Agenus in a research note on Friday, September 18th. They set a "buy" rating and a $40.00 price objective for the company. B. Riley Financial reissued a "buy" rating and issued a $14.00 target price (up from $8.00) on shares of Agenus in a report on Thursday, July 30th. Wall Street Zen cut Agenus from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 17th. Finally, Weiss Ratings cut Agenus from a "sell (d+)" rating to a "sell (d)" rating in a research note on Friday, August 21st. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $26.33.

Agenus Price Performance

The firm's 50 day moving average price is $7.40 and its 200-day moving average price is $4.94. The stock has a market cap of $385.67 million, a P/E ratio of 3.31 and a beta of 1.38.

Agenus (NASDAQ:AGEN - Get Free Report) last announced its quarterly earnings data on Friday, August 7th. The biotechnology company reported ($0.01) earnings per share for the quarter, missing analysts' consensus estimates of $0.05 by ($0.06). The firm had revenue of $34.52 million during the quarter, compared to analysts' expectations of $34.00 million. Agenus had a negative return on equity of 47.68% and a net margin of 69.33%. On average, analysts expect that Agenus Inc. will post -0.28 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Globeflex Capital L P bought a new position in Agenus during the 2nd quarter valued at about $1,281,000. Bank of New York Mellon Corp purchased a new stake in shares of Agenus in the 2nd quarter worth $311,000. Bank of America Corp DE lifted its position in shares of Agenus by 796.7% during the 1st quarter. Bank of America Corp DE now owns 118,782 shares of the biotechnology company's stock valued at $397,000 after buying an additional 105,536 shares in the last quarter. Redwood Family Wealth LLC purchased a new position in Agenus during the fourth quarter valued at approximately $44,000. Finally, Ovata Capital Management Ltd bought a new position in Agenus in the 4th quarter worth $97,000. 61.46% of the stock is owned by institutional investors.

Agenus Company Profile

Agenus Inc NASDAQ: AGEN is a biotechnology company focused on developing immunotherapies for the treatment of cancer. Its research programs are designed to activate and direct the immune system against tumors, with an emphasis on therapies that may address immune resistance and improve responses in difficult-to-treat cancers.

The company's pipeline has included checkpoint inhibitors, cancer vaccines, immune-stimulating adjuvants, bispecific antibodies and other antibody-based therapies.

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