Agenus Inc. (AGEN) Stock Price Up 7.2%
Shares of Agenus Inc. (NASDAQ:AGEN) rose 7.2% during trading on Thursday . The company traded as high as $4.05 and last traded at $4.02. Approximately 1,624,063 shares were traded during trading, an increase of 35% from the average daily volume of 1,206,246 shares. The stock had previously closed at $3.75.
AGEN has been the topic of a number of research analyst reports. BidaskClub cut Agenus from a “buy” rating to a “hold” rating in a research report on Wednesday, August 2nd. Jefferies Group LLC reiterated a “buy” rating and set a $7.00 target price on shares of Agenus in a research report on Friday, August 4th. Zacks Investment Research cut Agenus from a “buy” rating to a “hold” rating in a research report on Friday, August 25th. Finally, ValuEngine upgraded Agenus from a “strong sell” rating to a “sell” rating in a research report on Thursday, September 7th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. Agenus currently has an average rating of “Hold” and a consensus target price of $5.81.
The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of -2.39.
Agenus (NASDAQ:AGEN) last issued its quarterly earnings results on Tuesday, November 7th. The biotechnology company reported ($0.37) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.37). The company had revenue of $3.40 million during the quarter, compared to analyst estimates of $5.91 million. The business’s revenue was down 24.4% on a year-over-year basis. research analysts predict that Agenus Inc. will post -1.19 EPS for the current fiscal year.
In related news, CEO Garo H. Armen purchased 100,000 shares of the company’s stock in a transaction that occurred on Monday, October 30th. The shares were purchased at an average price of $3.55 per share, for a total transaction of $355,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 7.60% of the company’s stock.
A number of hedge funds have recently modified their holdings of the stock. Cubist Systematic Strategies LLC acquired a new position in Agenus in the 3rd quarter valued at about $134,000. Highbridge Capital Management LLC increased its position in Agenus by 242.8% in the 3rd quarter. Highbridge Capital Management LLC now owns 56,642 shares of the biotechnology company’s stock valued at $249,000 after acquiring an additional 40,118 shares during the period. Schwab Charles Investment Management Inc. increased its position in Agenus by 6.2% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 282,015 shares of the biotechnology company’s stock valued at $1,244,000 after acquiring an additional 16,470 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Agenus by 511.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 88,942 shares of the biotechnology company’s stock valued at $392,000 after acquiring an additional 74,407 shares during the period. Finally, Artal Group S.A. increased its position in Agenus by 25.0% in the 3rd quarter. Artal Group S.A. now owns 2,500,000 shares of the biotechnology company’s stock valued at $11,025,000 after acquiring an additional 500,000 shares during the period. Hedge funds and other institutional investors own 39.52% of the company’s stock.
Agenus Inc (Agenus) is an immuno-oncology (I-O) company. The Company focuses on the discovery and development of therapies that engage the body’s immune system to fight cancer. It is developing a I-O portfolio driven by platforms and programs, such as antibody discovery platforms, 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, AutoSynVax and PhosPhoSynVax, and saponin-based vaccine adjuvants, principally QS-21 Stimulon adjuvant (QS-21 Stimulon).
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