Short Interest in Agenus Inc. (NASDAQ:AGEN) Declines By 10.5%

Agenus Inc. (NASDAQ:AGEN) was the recipient of a significant drop in short interest in October. As of October 31st, there was short interest totalling 2,800,000 shares, a drop of 10.5% from the October 15th total of 3,130,000 shares. Approximately 13.2% of the shares of the stock are sold short. Based on an average daily volume of 393,300 shares, the days-to-cover ratio is currently 7.1 days.

Analyst Ratings Changes

Several analysts recently issued reports on AGEN shares. HC Wainwright cut their target price on Agenus from $8.00 to $7.00 and set a “neutral” rating for the company in a research report on Tuesday, November 12th. StockNews.com lowered Agenus from a “hold” rating to a “sell” rating in a research note on Monday, August 12th. Finally, B. Riley dropped their price target on Agenus from $42.00 to $18.00 and set a “buy” rating for the company in a research note on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $10.00.

Agenus Stock Performance

Shares of Agenus stock opened at $2.63 on Tuesday. The stock has a market cap of $61.70 million, a price-to-earnings ratio of -0.23 and a beta of 1.39. The stock has a 50 day moving average price of $4.65 and a 200-day moving average price of $8.57. Agenus has a one year low of $2.52 and a one year high of $19.69.

Hedge Funds Weigh In On Agenus

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in shares of Agenus by 13.7% in the 1st quarter. Vanguard Group Inc. now owns 34,401,122 shares of the biotechnology company’s stock worth $19,953,000 after purchasing an additional 4,134,232 shares during the period. Acadian Asset Management LLC boosted its holdings in shares of Agenus by 1,959.9% in the 1st quarter. Acadian Asset Management LLC now owns 757,397 shares of the biotechnology company’s stock worth $439,000 after purchasing an additional 720,629 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Agenus by 7.1% in the 3rd quarter. Geode Capital Management LLC now owns 483,059 shares of the biotechnology company’s stock worth $2,648,000 after purchasing an additional 32,016 shares during the period. State Street Corp boosted its holdings in Agenus by 2.1% during the 3rd quarter. State Street Corp now owns 467,771 shares of the biotechnology company’s stock valued at $2,563,000 after acquiring an additional 9,731 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Agenus by 52.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 357,915 shares of the biotechnology company’s stock valued at $208,000 after acquiring an additional 123,058 shares during the period. Hedge funds and other institutional investors own 61.46% of the company’s stock.

Agenus Company Profile

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.