Agenus (NASDAQ:AGEN – Get Free Report) and ImageneBio (NASDAQ:IMA – Get Free Report) are both small-cap healthcare companies, but which is the better investment? We will compare the two businesses based on the strength of their risk, valuation, institutional ownership, analyst recommendations, dividends, earnings and profitability.
Institutional and Insider Ownership
61.5% of Agenus shares are held by institutional investors. Comparatively, 75.0% of ImageneBio shares are held by institutional investors. 6.5% of Agenus shares are held by insiders. Comparatively, 2.2% of ImageneBio shares are held by insiders. Strong institutional ownership is an indication that endowments, hedge funds and large money managers believe a stock will outperform the market over the long term.
Profitability
This table compares Agenus and ImageneBio’s net margins, return on equity and return on assets.
| Net Margins | Return on Equity | Return on Assets | |
| Agenus | 69.33% | -47.68% | 57.73% |
| ImageneBio | N/A | -38.99% | -34.84% |
Valuation & Earnings
| Gross Revenue | Price/Sales Ratio | Net Income | Earnings Per Share | Price/Earnings Ratio | |
| Agenus | $114.20 million | 3.03 | $120,000.00 | $2.58 | 2.97 |
| ImageneBio | $800,000.00 | 60.15 | -$45.35 million | ($4.58) | -0.93 |
Agenus has higher revenue and earnings than ImageneBio. ImageneBio is trading at a lower price-to-earnings ratio than Agenus, indicating that it is currently the more affordable of the two stocks.
Risk & Volatility
Agenus has a beta of 1.31, meaning that its share price is 31% more volatile than the S&P 500. Comparatively, ImageneBio has a beta of 0.74, meaning that its share price is 26% less volatile than the S&P 500.
Analyst Ratings
This is a breakdown of recent ratings for Agenus and ImageneBio, as provided by MarketBeat.
| Sell Ratings | Hold Ratings | Buy Ratings | Strong Buy Ratings | Rating Score | |
| Agenus | 1 | 1 | 4 | 0 | 2.50 |
| ImageneBio | 2 | 0 | 1 | 1 | 2.25 |
Agenus currently has a consensus price target of $24.50, suggesting a potential upside of 219.43%. ImageneBio has a consensus price target of $29.00, suggesting a potential upside of 583.96%. Given ImageneBio’s higher possible upside, analysts plainly believe ImageneBio is more favorable than Agenus.
Summary
Agenus beats ImageneBio on 10 of the 15 factors compared between the two stocks.
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. It develops QS-21 Stimulon adjuvant, a saponin-based vaccine adjuvant. The company also develops Balstilimab, an anti-PD-1 antagonist that has completed Phase II clinical trial to treat second line cervical cancer; AGEN1181, an antigen 4 (CTLA-4) blocking antibody that is in Phase 2 clinical trial for the treatment of pancreatic cancer and and melanoma; AGEN2373, a CD137 monospecific antibody that is in Phase 1b clinical trial; AGEN1423, a CD73/TGFß TRAP antibody; AGEN1571, an ILT2 monospecific antibody that is in Phase 1 clinical trial; and BMS-986442, a TIGIT bispecific antibodies. In addition, it develops INCAGN1876, a GITR agonist; INCAGN2390, a TIM-3 monospecific antibody; INCAGN2385, a LAG-3 monospecific antibody; MK-4830, a monospecific antibody targeting ILT4 that is in Phase 2 clinical trial; UGN-301, a zalifrelimab intravesical solution for the treatment of cancers of the urinary tract that is in a Phase 1 clinical trial; and AGEN1884, a first-generation anti-CTLA-4 monospecific antibody. The company operates under Agenus, MiNK, Prophage, Retrocyte Display, and Stimulon trademarks. It has collaborations with Bristol-Myers Squibb Company, Betta Pharmaceuticals Co., Ltd., Incyte Corporation, Merck Sharpe & Dohme, and Gilead Sciences, Inc. The company was formerly known as Antigenics Inc. and changed its name to Agenus Inc. in January 2011. Agenus Inc. was founded in 1994 and is headquartered in Lexington, Massachusetts.
About ImageneBio
ImageneBio, Inc., a clinical-stage biotechnology company, develops therapeutics for immunological and inflammatory diseases. Its lead product includes IMG-007, a non-depleting anti-OX40 mAb that has completed Phase 2a clinical trials for the treatment of atopic dermatitis and alopecia areata. The company was formerly known as Ikena Oncology, Inc. and changed its name to ImageneBio, Inc. in July 2025. ImageneBio, Inc. is headquartered in San Diego, California.
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