Deep Track Capital LP recently announced the acquisition of new stake in Agenus Inc (NASDAQ:AGEN). The institutional investor has increased its shareholding in the Healthcare company by 5.66% to 31.7 million shares with purchase of 1.7 million shares. This fresh investment now brings its stake to 8.35% valued currently at $25.36 million. In addition, The Vanguard Group, Inc. raised its holdings by 0.43 million to 26.36 million shares. And BlackRock Fund Advisors has lifted its position by 5.00% or 1.13 million shares – to 23.72 million shares.
With over 9.9 million Agenus Inc (AGEN) shares trading Monday and a closing price of $0.83 on the day, the dollar volume was approximately $8.22 million. The shares have shown a negative half year performance of -51.85% and its price on 12/04/23 gained nearly 6.43%. Currently, there are 381.50M common shares owned by the public and among those 363.50M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 5 analysts who have offered their price forecasts for AGEN have a consensus price objective of $6.50. The analysts have set the share’s price value over the next 12 months at a high of $8.00 and a low of $6.00. The average price target is 87.23% above its recent price level and an upside to the estimated low will see the stock gain 86.17% over that period. But an upside of 89.62% will see the stock hit the forecast high price target while median target price for the stock is $6.00.
Insiders at the company have transacted a total of 0 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 0 of these insider trades were purchases, accounting for 0 shares. Insider sales of the common stock occurred on 0 occasions, with total insider shares sold totaling 0 shares.
The top 3 mutual fund holders in Agenus Inc are SPDR S&P Biotech ETF, Vanguard Total Stock Market ETF, and iShares Russell 2000 ETF. SPDR S&P Biotech ETF owns 14.57 million shares of the company’s stock, all valued at over $11.65 million. The company bought an additional 87058.0 shares recently to bring their total holdings to about 3.84% of the shares outstanding. iShares Russell 2000 ETF sold 81420.0 shares to bring its total holdings to over 8.1 million shares at a value of $6.48 million. iShares Russell 2000 ETF now owns shares totaling to 2.13% of the shares outstanding.
However, the script later moved the day high at 0.8553, up 6.43%. The company’s stock has a 5-day price change of 26.15% and -34.92% over the past three months. AGEN shares are trading -64.63% year to date (YTD), with the 12-month market performance down to -67.85% lower. It has a 12-month low price of $0.61 and touched a high of $3.01 over the same period. AGEN has an average intraday trading volume of 6.27 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 14.16%, -5.98%, and -40.49% respectively.
Institutional ownership of Agenus Inc (NASDAQ: AGEN) shares accounts for 53.95% of the company’s 381.50M shares outstanding. Mutual fund holders own 33.36%, while other institutional holders and individual stakeholders account for 6.39% and 20.89% respectively.
It has a market capitalization of $317.79M and a beta (3y monthly) value of 1.40. The earnings-per-share (ttm) stands at -$0.82. Price movements for the stock have been influenced by the stock’s volatility, which stands at 11.40% over the week and 10.90% over the month.
Analysts forecast that Agenus Inc (AGEN) will achieve an EPS of $Seagen Inc. for the current quarter, $213.13 for the next quarter and $Stocks for Type. The lowest estimate earnings-per-share for the quarter is $Compugen Ltd. while analysts give the company a high EPS estimate of $FibroGen, Inc. Comparatively, EPS for the current quarter was $Gen Digital Inc. a year ago. Earnings per share for the fiscal year are expected to increase by 16.91%, and 38.36% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 5 brokerage firm advisors rate Agenus Inc (AGEN) as a “Strong Buy” at a consensus score of 1.20. Specifically, 4 Wall Street analysts polled rate the stock as a buy, while 0 of the 5 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the AGEN, a number of firms have released research notes about the stock. Robert W. Baird stated their Outperform rating for the stock in a research note on June 06, 2023, with the firm’s price target at $8.
