Agenus (NASDAQ:AGEN) Downgraded to “Hold” Rating by Wall Street Zen

Wall Street Zen downgraded shares of Agenus (NASDAQ:AGEN) from a strong-buy rating to a hold rating in a research note released on Monday.

Several other research firms have also commented on AGEN. Zacks Research lowered Agenus from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 11th. B. Riley Financial reaffirmed a “buy” rating and set a $14.00 target price (up from $8.00) on shares of Agenus in a report on Thursday, July 30th. Weiss Ratings raised shares of Agenus from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday, August 7th. Finally, HC Wainwright reissued a “buy” rating and set a $25.00 price target (down from $30.00) on shares of Agenus in a report on Tuesday, August 11th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Agenus currently has an average rating of “Hold” and a consensus price target of $19.50.

Agenus Stock Down 2.3%

Shares of AGEN stock opened at $7.15 on Monday. Agenus has a 52-week low of $2.71 and a 52-week high of $8.85. The stock has a market cap of $321.89 million, a PE ratio of 2.77 and a beta of 1.40. The business has a 50-day simple moving average of $4.92 and a 200-day simple moving average of $3.98.

Agenus (NASDAQ:AGEN) last posted its earnings results on Friday, August 7th. The biotechnology company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.06). The company had revenue of $34.52 million for the quarter, compared to analyst estimates of $34.00 million. Agenus had a negative return on equity of 47.68% and a net margin of 69.33%. Sell-side analysts anticipate that Agenus will post -0.28 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in AGEN. EP Wealth Advisors LLC purchased a new position in shares of Agenus during the 4th quarter valued at approximately $31,000. R Squared Ltd purchased a new stake in Agenus in the 4th quarter worth $41,000. Redwood Family Wealth LLC acquired a new position in Agenus during the fourth quarter worth $44,000. Quadrature Capital Ltd acquired a new position in Agenus during the fourth quarter worth $54,000. Finally, Squarepoint Ops LLC purchased a new position in Agenus during the third quarter valued at $54,000. 61.46% of the stock is owned by institutional investors and hedge funds.

About Agenus

Agenus, Inc (NASDAQ:AGEN) is a clinical-stage immuno-oncology company headquartered in Lexington, Massachusetts. The company focuses on the discovery and development of therapies designed to modulate the immune system’s response to cancer. Leveraging proprietary platforms in checkpoint modulation, vaccine technology and adjuvant systems, Agenus aims to deliver combination regimens that enhance antitumor activity across a variety of solid tumors and hematological malignancies.

Agenus’ pipeline includes monoclonal antibodies targeting immune checkpoints, cytokine-based therapeutics and vaccine candidates built on its engineered heat shock protein (HSP) platform.