Agenus (NASDAQ:AGEN) Shares Gap Up to $1.41

Posted by Steve Fairfield on May 26th, 2023

Agenus Inc. (NASDAQ:AGEN – Get Rating)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $1.41, but opened at $1.45. Agenus shares last traded at $1.44, with a volume of 1,865,562 shares trading hands.

Analysts Set New Price Targets

Several research firms have recently weighed in on AGEN. B. Riley reaffirmed a “buy” rating and set a $8.00 price objective on shares of Agenus in a report on Wednesday, March 29th. EF Hutton Acquisition Co. I restated a “buy” rating and issued a $8.30 target price on shares of Agenus in a research note on Tuesday, March 28th. StockNews.com initiated coverage on shares of Agenus in a research report on Thursday, May 18th. They set a “sell” rating on the stock. Finally, HC Wainwright restated a “buy” rating and issued a $8.00 price objective on shares of Agenus in a research report on Tuesday, February 28th. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $7.33.

Agenus Stock Up 2.8 %

The company’s fifty day moving average price is $1.52 and its two-hundred day moving average price is $2.12. The company has a market cap of $505.88 million, a price-to-earnings ratio of -1.73 and a beta of 1.43.

Agenus (NASDAQ:AGEN – Get Rating) last issued its quarterly earnings results on Tuesday, March 14th. The biotechnology company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.02). The business had revenue of $28.39 million for the quarter, compared to the consensus estimate of $17.83 million. Agenus had a negative return on equity of 1,159.04% and a negative net margin of 264.19%. On average, equities research analysts predict that Agenus Inc. will post -0.81 earnings per share for the current fiscal year.

Insider Activity at Agenus

In other Agenus news, major shareholder Agenus Inc purchased 100,200 shares of the stock in a transaction that occurred on Friday, May 5th. The shares were acquired at an average cost of $0.95 per share, with a total value of $95,190.00. Following the completion of the transaction, the insider now owns 21,595,047 shares in the company, valued at $20,515,294.65. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last quarter, insiders have acquired 250,954 shares of company stock worth $267,492. Company insiders own 4.80% of the company’s stock.

Institutional Investors Weigh In On Agenus

Several institutional investors and hedge funds have recently added to or reduced their stakes in AGEN. Swiss National Bank grew its holdings in shares of Agenus by 18.4% during the 1st quarter. Swiss National Bank now owns 485,800 shares of the biotechnology company’s stock valued at $1,195,000 after purchasing an additional 75,500 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Agenus by 21.9% during the first quarter. JPMorgan Chase & Co. now owns 103,704 shares of the biotechnology company’s stock worth $255,000 after buying an additional 18,617 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Agenus by 3.9% during the first quarter. Bank of New York Mellon Corp now owns 767,692 shares of the biotechnology company’s stock worth $1,889,000 after buying an additional 28,600 shares in the last quarter. MetLife Investment Management LLC lifted its stake in shares of Agenus by 23.3% in the 1st quarter. MetLife Investment Management LLC now owns 97,735 shares of the biotechnology company’s stock valued at $240,000 after acquiring an additional 18,480 shares during the last quarter. Finally, Rhumbline Advisers boosted its holdings in shares of Agenus by 6.6% during the 1st quarter. Rhumbline Advisers now owns 220,963 shares of the biotechnology company’s stock valued at $544,000 after acquiring an additional 13,594 shares in the last quarter. 53.81% of the stock is currently owned by institutional investors.

Agenus Company Profile

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Agenus, Inc is a clinical-stage company, which engages in the development and commercialization of technologies to treat cancers and infectious diseases. Its product pipeline includes Balstilimab, Zalifrelimab, AGEN1181, AGEN1327, AGEN2373, AGENt-797 and AGEN1777. The company was founded by Garo H. Armen and Pramod K.