Agenus Inc. (NASDAQ:AGEN) Sees Large Decline in Short Interest

Agenus Inc. (NASDAQ:AGEN) was the target of a large decline in short interest in June. As of June 15th, there was short interest totalling 2,240,000 shares, a decline of 17.9% from the May 31st total of 2,730,000 shares. Based on an average daily trading volume, of 803,700 shares, the days-to-cover ratio is presently 2.8 days. Currently, 11.2% of the company’s stock are short sold.

Agenus Price Performance

Shares of NASDAQ AGEN traded down $2.41 during trading hours on Tuesday, reaching $14.28. The stock had a trading volume of 668,869 shares, compared to its average volume of 681,041. The business’s fifty day moving average is $13.45 and its two-hundred day moving average is $12.94. The company has a market cap of $299.88 million, a price-to-earnings ratio of -1.23 and a beta of 1.32. Agenus has a twelve month low of $4.78 and a twelve month high of $38.60.

Agenus (NASDAQ:AGEN) last announced its quarterly earnings results on Tuesday, May 7th. The biotechnology company reported ($3.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($3.58) by $0.54. The company had revenue of $28.01 million during the quarter, compared to the consensus estimate of $40.70 million. Sell-side analysts forecast that Agenus will post -9.7 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have issued reports on AGEN. B. Riley decreased their target price on Agenus from $120.00 to $100.00 and set a “buy” rating for the company in a research report on Monday, March 18th. StockNews.com initiated coverage on Agenus in a report on Wednesday, April 17th. They set a “hold” rating for the company. Finally, HC Wainwright reiterated a “buy” rating and set a $40.00 price target on shares of Agenus in a report on Friday.

Institutional Trading of Agenus

Large investors have recently bought and sold shares of the stock. PCG Wealth Advisors LLC grew its holdings in shares of Agenus by 65.7% during the fourth quarter. PCG Wealth Advisors LLC now owns 47,550 shares of the biotechnology company’s stock worth $39,000 after purchasing an additional 18,850 shares during the last quarter. RPO LLC bought a new position in Agenus in the fourth quarter valued at about $43,000. Ables Iannone Moore & Associates Inc. acquired a new position in Agenus in the fourth quarter valued at about $65,000. Exchange Traded Concepts LLC boosted its holdings in Agenus by 34.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 107,019 shares of the biotechnology company’s stock worth $89,000 after buying an additional 27,137 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC bought a new position in Agenus during the fourth quarter worth about $95,000. 61.46% of the stock is currently owned by institutional investors.

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.