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

Shares of Agenus Inc. (NASDAQ:AGEN) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $4.26 and traded as high as $4.60. Agenus shares last traded at $4.42, with a volume of 922,470 shares trading hands.

Analyst Ratings Changes

Several brokerages recently issued reports on AGEN. Zacks Research upgraded Agenus to a “hold” rating in a research note on Tuesday, August 12th. HC Wainwright reiterated a “buy” rating on shares of Agenus in a research note on Monday. Wall Street Zen cut Agenus from a “buy” rating to a “hold” rating in a research note on Sunday, August 17th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Agenus in a research note on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $14.50.

Agenus Price Performance

The firm’s fifty day moving average price is $4.32 and its 200-day moving average price is $4.26. The company has a market capitalization of $140.82 million, a price-to-earnings ratio of -0.62 and a beta of 1.43.

Agenus (NASDAQ:AGEN) last announced its quarterly earnings results on Monday, August 11th. The biotechnology company reported ($1.00) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.78) by ($0.22). The firm had revenue of $25.70 million for the quarter, compared to the consensus estimate of $49.71 million. On average, research analysts predict that Agenus Inc. will post -12.55 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Siren L.L.C. acquired a new position in shares of Agenus during the first quarter worth $752,000. AQR Capital Management LLC increased its holdings in Agenus by 3,080.3% in the first quarter. AQR Capital Management LLC now owns 441,486 shares of the biotechnology company’s stock valued at $664,000 after purchasing an additional 427,604 shares during the period. Marshall Wace LLP acquired a new stake in Agenus in the second quarter valued at $1,976,000. Bank of America Corp DE increased its holdings in Agenus by 110.0% in the second quarter. Bank of America Corp DE now owns 420,678 shares of the biotechnology company’s stock valued at $1,922,000 after purchasing an additional 220,327 shares during the period. Finally, Walleye Capital LLC acquired a new stake in Agenus in the second quarter valued at $906,000. 61.46% of the stock is currently owned by institutional investors and hedge funds.

About Agenus

Agenus Inc, a clinical-stage biotechnology company, discovers and develops immuno-oncology products in the United States and internationally. The company offers Retrocyte Display, an antibody expression platform for the identification of fully human and humanized monoclonal antibodies; and display technologies.