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

Key Points

• Agenus shares rose above their 200-day moving average of $4.36, reaching $8.00 and last trading at $7.99 on volume of 676,249 shares.
• Analyst opinions remain mixed: B. Riley raised its price target to $14 and HC Wainwright maintained a buy rating, while other firms downgraded the stock. The consensus rating is Hold, with an average target price of $19.50.
• Agenus missed quarterly earnings expectations, reporting a loss of $0.01 per share versus the $0.05 estimate, though revenue of $34.52 million exceeded forecasts. Institutional investors own 61.46% of the company.

Agenus Inc. (NASDAQ:AGEN - Get Free Report)'s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $4.36 and traded as high as $8.00. Agenus shares last traded at $7.99, with a volume of 676,249 shares.

Analyst Upgrades and Downgrades

AGEN has been the topic of several recent research reports. B. Riley Financial reaffirmed a "buy" rating and set a $14.00 target price (up from $8.00) on shares of Agenus in a research report on Thursday, July 30th. Zacks Research lowered Agenus from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 11th. Weiss Ratings cut Agenus from a "sell (d+)" rating to a "sell (d)" rating in a research note on Friday, August 21st. Wall Street Zen downgraded Agenus from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 17th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $25.00 price objective (down from $30.00) on shares of Agenus in a research report on Tuesday, August 11th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $19.50.

Agenus Stock Performance

The firm's 50 day moving average is $5.97 and its 200 day moving average is $4.36. The stock has a market cap of $359.71 million, a P/E ratio of 3.10 and a beta of 1.39.

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

Institutional Trading of Agenus

Institutional investors have recently made changes to their positions in the business. EP Wealth Advisors LLC purchased a new position in Agenus during the 4th quarter worth $31,000. Jump Financial LLC acquired a new stake in Agenus in the second quarter worth about $55,000. Squarepoint Ops LLC acquired a new stake in Agenus in the third quarter worth about $54,000. Redwood Family Wealth LLC acquired a new stake in Agenus in the fourth quarter worth about $44,000. Finally, Sherbrooke Park Advisers LLC purchased a new stake in shares of Agenus during the third quarter worth about $64,000. Institutional investors and hedge funds own 61.46% of the company's stock.

About Agenus

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.

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