Agenus (NASDAQ:AGEN) Stock Price Passes Above 200 Day Moving Average – Here’s What Happened

Agenus Inc. (NASDAQ:AGEN)’s stock price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $3.59 and traded as high as $6.20. Agenus shares last traded at $6.13, with a volume of 1,233,831 shares traded.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on AGEN shares. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Agenus in a report on Tuesday, June 16th. Wall Street Zen downgraded shares of Agenus from a “buy” rating to a “hold” rating in a research report on Saturday, July 18th. Zacks Research cut shares of Agenus from a “strong-buy” rating to a “hold” rating in a report on Monday, May 11th. Finally, HC Wainwright lifted their target price on shares of Agenus from $23.00 to $30.00 and gave the stock a “buy” rating in a research report on Monday, July 13th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $30.00.

Agenus Trading Up 0.5%

The stock has a market cap of $296.71 million, a P/E ratio of 4.17 and a beta of 1.55. The company’s 50 day moving average price is $3.79 and its two-hundred day moving average price is $3.61.

Agenus (NASDAQ:AGEN) last announced its earnings results on Monday, May 11th. The biotechnology company reported $1.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.10 by ($1.08). Agenus had a net margin of 50.49% and a negative return on equity of 31.66%. The business had revenue of $33.74 million for the quarter, compared to the consensus estimate of $129.50 million. On average, sell-side analysts anticipate that Agenus Inc. will post -0.22 earnings per share for the current year.

Institutional Investors Weigh In On Agenus

Several hedge funds and other institutional investors have recently modified their holdings of AGEN. LPL Financial LLC raised its holdings in Agenus by 20.3% in the 4th quarter. LPL Financial LLC now owns 23,326 shares of the biotechnology company’s stock worth $73,000 after purchasing an additional 3,943 shares during the period. EP Wealth Advisors LLC bought a new position in shares of Agenus in the fourth quarter worth about $31,000. Jump Financial LLC purchased a new position in shares of Agenus during the 2nd quarter valued at about $55,000. R Squared Ltd bought a new position in shares of Agenus during the 4th quarter valued at approximately $41,000. Finally, Squarepoint Ops LLC purchased a new stake in Agenus in the 3rd quarter worth approximately $54,000. 61.46% of the stock is currently owned by hedge funds and other institutional investors.

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.