Agenus Stock Scheduled to Reverse Split on Friday, April 12th (NASDAQ:AGEN)

Shares of Agenus Inc. (NASDAQ:AGEN) are set to reverse split before the market opens on Friday, April 12th. The 1-20 reverse split was announced on Friday, April 12th. The number of shares owned by shareholders will be adjusted after the market closes on Friday, April 12th.

Agenus Stock Up 4.5 %

Shares of NASDAQ:AGEN opened at $0.49 on Wednesday. The stock has a market cap of $203.80 million, a price-to-earnings ratio of -0.69 and a beta of 1.26. Agenus has a 12-month low of $0.41 and a 12-month high of $2.13. The business’s 50 day moving average is $0.64 and its 200 day moving average is $0.75.

Agenus (NASDAQ:AGEN) last announced its earnings results on Thursday, March 14th. The biotechnology company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.11). The company had revenue of $83.80 million during the quarter, compared to the consensus estimate of $54.21 million. As a group, equities research analysts expect that Agenus will post -0.41 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. HC Wainwright reiterated a “buy” rating and set a $8.00 price target on shares of Agenus in a report on Thursday, March 14th. B. Riley dropped their price target on Agenus from $6.00 to $5.00 and set a “buy” rating on the stock in a report on Monday, March 18th. Finally, StockNews.com upgraded Agenus from a “sell” rating to a “hold” rating in a report on Sunday, March 24th.

Insider Buying and Selling at Agenus

In other news, insider Garo H. Armen bought 500,000 shares of the stock in a transaction on Thursday, February 15th. The shares were purchased at an average cost of $0.65 per share, for a total transaction of $325,000.00. Following the completion of the purchase, the insider now directly owns 625,969 shares in the company, valued at approximately $406,879.85. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 4.80% of the company’s stock.

Institutional Trading of Agenus

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Ables Iannone Moore & Associates Inc. purchased a new position in Agenus during the fourth quarter worth about $65,000. Vanguard Group Inc. grew its position in Agenus by 12.4% during the fourth quarter. Vanguard Group Inc. now owns 30,266,890 shares of the biotechnology company’s stock worth $25,058,000 after buying an additional 3,328,451 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Agenus by 22.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,893,617 shares of the biotechnology company’s stock worth $2,396,000 after buying an additional 536,797 shares in the last quarter. American International Group Inc. grew its position in Agenus by 8.4% during the fourth quarter. American International Group Inc. now owns 189,427 shares of the biotechnology company’s stock worth $157,000 after buying an additional 14,616 shares in the last quarter. Finally, Virtu Financial LLC purchased a new position in Agenus during the fourth quarter worth about $213,000. 61.46% of the stock is currently owned by institutional investors.

Agenus Company Profile

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.