StockNews.com Initiates Coverage on Agenus (NASDAQ:AGEN)

StockNews.com began coverage on shares of Agenus (NASDAQ:AGEN) in a report issued on Wednesday morning. The firm issued a hold rating on the biotechnology company’s stock.

Several other equities analysts have also issued reports on AGEN. HC Wainwright reaffirmed a buy rating and issued a $160.00 target price on shares of Agenus in a report on Thursday, March 14th. B. Riley reduced their target price on Agenus from $120.00 to $100.00 and set a buy rating for the company in a report on Monday, March 18th.

Agenus Stock Performance

AGEN stock opened at $5.40 on Wednesday. The company has a market capitalization of $113.13 million, a P/E ratio of -0.38 and a beta of 1.26. Agenus has a 52-week low of $5.38 and a 52-week high of $42.60. The business has a 50-day simple moving average of $12.04 and a two-hundred day simple moving average of $14.35.

Agenus (NASDAQ:AGEN) last released its quarterly earnings results on Thursday, March 14th. The biotechnology company reported ($2.60) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.40) by ($2.20). The business had revenue of $83.80 million during the quarter, compared to analyst estimates of $54.21 million. As a group, sell-side analysts forecast that Agenus will post -8.2 earnings per share for the current fiscal year.

Insider Activity

In other Agenus news, insider Garo H. Armen bought 25,000 shares of Agenus stock in a transaction dated Thursday, February 15th. The stock was bought at an average cost of $13.00 per share, with a total value of $325,000.00. Following the completion of the acquisition, the insider now directly owns 31,298 shares in the company, valued at approximately $406,874. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 4.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Agenus

Institutional investors and hedge funds have recently bought and sold shares of the company. U.S. Capital Wealth Advisors LLC bought a new position in Agenus during the first quarter valued at $25,000. Commonwealth Equity Services LLC bought a new position in Agenus during the third quarter valued at $26,000. Sei Investments Co. bought a new position in Agenus during the first quarter valued at $28,000. SG Americas Securities LLC bought a new position in Agenus during the third quarter valued at $36,000. Finally, Two Sigma Securities LLC grew its holdings in Agenus by 116.9% during the second quarter. Two Sigma Securities LLC now owns 22,750 shares of the biotechnology company’s stock valued at $36,000 after purchasing an additional 12,263 shares during the period. 61.46% of the stock is owned by institutional investors.

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.