Agenus Inc (NASDAQ:AGEN) gapped down prior to trading on Thursday following a dissappointing earnings announcement. The stock had previously closed at $6.20, but opened at $5.72. Agenus shares last traded at $5.53, with a volume of 3062465 shares changing hands.
The biotechnology company reported ($0.35) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.28) by ($0.07). The firm had revenue of $8.30 million for the quarter, compared to the consensus estimate of $5.30 million. The firm’s quarterly revenue was up 48.2% on a year-over-year basis.
Several equities research analysts have recently issued reports on AGEN shares. BidaskClub raised shares of Agenus from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, March 7th. ValuEngine downgraded shares of Agenus from a “sell” rating to a “strong sell” rating in a research report on Friday, December 29th. Finally, Zacks Investment Research raised shares of Agenus from a “hold” rating to a “buy” rating and set a $4.25 price objective for the company in a research report on Tuesday, January 16th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Agenus has a consensus rating of “Buy” and a consensus price target of $5.81.
A number of institutional investors have recently added to or reduced their stakes in AGEN. Artal Group S.A. grew its position in Agenus by 25.0% in the third quarter. Artal Group S.A. now owns 2,500,000 shares of the biotechnology company’s stock valued at $11,025,000 after purchasing an additional 500,000 shares in the last quarter. Vanguard Group Inc. grew its position in Agenus by 5.2% in the second quarter. Vanguard Group Inc. now owns 3,530,585 shares of the biotechnology company’s stock valued at $13,805,000 after purchasing an additional 174,162 shares in the last quarter. Hudson Bay Capital Management LP grew its position in Agenus by 60.7% in the fourth quarter. Hudson Bay Capital Management LP now owns 450,000 shares of the biotechnology company’s stock valued at $1,467,000 after purchasing an additional 170,000 shares in the last quarter. RTW Investments LP grew its position in Agenus by 2.6% in the fourth quarter. RTW Investments LP now owns 4,329,816 shares of the biotechnology company’s stock valued at $14,115,000 after purchasing an additional 111,296 shares in the last quarter. Finally, Virtus Fund Advisers LLC bought a new position in Agenus in the fourth quarter valued at $320,000. 36.69% of the stock is owned by institutional investors and hedge funds.
The company has a market capitalization of $583.24, a PE ratio of -4.99 and a beta of 1.50. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of -2.39.
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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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