Corp Incyte Acquires 10,000,000 Shares of Agenus Inc. (AGEN) Stock
Agenus Inc. (NASDAQ:AGEN) major shareholder Corp Incyte purchased 10,000,000 shares of the firm’s stock in a transaction on Tuesday, February 14th. The shares were purchased at an average price of $6.00 per share, with a total value of $60,000,000.00. Following the completion of the acquisition, the insider now directly owns 17,763,968 shares of the company’s stock, valued at $106,583,808. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
Shares of Agenus Inc. (NASDAQ:AGEN) opened at 4.23 on Friday. The company has a 50 day moving average of $4.04 and a 200 day moving average of $5.20. Agenus Inc. has a 1-year low of $2.65 and a 1-year high of $7.49. The company’s market cap is $368.54 million.
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A number of equities research analysts have issued reports on the stock. Zacks Investment Research cut shares of Agenus from a “hold” rating to a “sell” rating in a report on Tuesday, December 27th. JMP Securities restated a “buy” rating on shares of Agenus in a report on Thursday, December 1st. HC Wainwright cut shares of Agenus from a “buy” rating to a “neutral” rating and decreased their price target for the company from $10.00 to $5.00 in a report on Friday, October 28th. Finally, Maxim Group restated a “buy” rating and set a $7.00 price target on shares of Agenus in a report on Thursday, October 27th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $9.80.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. RTW Investments LLC raised its position in Agenus by 70.5% in the third quarter. RTW Investments LLC now owns 4,141,644 shares of the company’s stock valued at $29,737,000 after buying an additional 1,712,495 shares in the last quarter. State Street Corp raised its position in Agenus by 64.3% in the fourth quarter. State Street Corp now owns 3,502,274 shares of the company’s stock valued at $14,430,000 after buying an additional 1,370,515 shares in the last quarter. Marshall Wace LLP purchased a new position in Agenus during the fourth quarter valued at $2,044,000. Glenview Trust Co purchased a new position in Agenus during the fourth quarter valued at $583,000. Finally, Perceptive Advisors LLC purchased a new position in Agenus during the fourth quarter valued at $297,000. Institutional investors own 45.40% of the company’s stock.
Agenus Inc (Agenus) is an immuno-oncology company. The Company is engaged in discovering and developing treatments for patients with cancer. Its approaches are driven by platforms and programs, which include antibody discovery platform, including Retrocyte Display, SECANT yeast display and phage display technologies designed to produce human antibodies; antibody candidate programs, including checkpoint modulator (CPM) programs; vaccine programs, including Prophage and AutoSynVax, and saponin-based vaccine adjuvants, principally QS-21 Stimulon adjuvant (QS-21 Stimulon).
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