Agenus (NASDAQ:AGEN) Announces Quarterly Earnings Results

Agenus (NASDAQ:AGEN) released its quarterly earnings data on Monday. The biotechnology company reported $1.02 earnings per share for the quarter, missing the consensus estimate of $2.10 by ($1.08), Zacks reports. Agenus had a negative return on equity of 7.65% and a negative net margin of 2.67%.

Agenus Stock Performance

Shares of AGEN traded down $0.56 on Monday, reaching $3.26. The stock had a trading volume of 2,002,836 shares, compared to its average volume of 782,172. The firm has a market capitalization of $125.18 million, a price-to-earnings ratio of -7.09 and a beta of 1.60. The company has a 50-day simple moving average of $3.71 and a 200-day simple moving average of $3.68. Agenus has a 12-month low of $2.71 and a 12-month high of $7.34.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Barclays PLC lifted its stake in shares of Agenus by 352.8% in the 4th quarter. Barclays PLC now owns 46,273 shares of the biotechnology company’s stock valued at $145,000 after purchasing an additional 36,053 shares during the period. Arrowstreet Capital Limited Partnership purchased a new position in shares of Agenus in the 3rd quarter valued at approximately $120,000. Virtu Financial LLC purchased a new position in shares of Agenus in the 4th quarter valued at approximately $108,000. Tower Research Capital LLC TRC lifted its stake in shares of Agenus by 265.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 21,871 shares of the biotechnology company’s stock valued at $100,000 after purchasing an additional 15,893 shares during the period. Finally, Invesco Ltd. purchased a new position in shares of Agenus in the 1st quarter valued at approximately $88,000. Hedge funds and other institutional investors own 61.46% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on AGEN. Wall Street Zen upgraded Agenus from a “hold” rating to a “buy” rating in a report on Monday, April 6th. Zacks Research upgraded Agenus from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 2nd. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $14.50.

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.