Rhumbline Advisers Sells 514,370 Shares of Agenus Inc. (NASDAQ:AGEN)

Rhumbline Advisers cut its holdings in Agenus Inc. (NASDAQ:AGEN) by 94.1% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 32,253 shares of the biotechnology company’s stock after selling 514,370 shares during the period. Rhumbline Advisers’ holdings in Agenus were worth $540,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Price T Rowe Associates Inc. MD grew its stake in Agenus by 52.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 357,915 shares of the biotechnology company’s stock worth $208,000 after purchasing an additional 123,058 shares during the period. Acadian Asset Management LLC grew its position in shares of Agenus by 1,959.9% during the 1st quarter. Acadian Asset Management LLC now owns 757,397 shares of the biotechnology company’s stock worth $439,000 after buying an additional 720,629 shares during the period. Vanguard Group Inc. grew its position in shares of Agenus by 13.7% during the 1st quarter. Vanguard Group Inc. now owns 34,401,122 shares of the biotechnology company’s stock worth $19,953,000 after buying an additional 4,134,232 shares during the period. BNP Paribas Financial Markets increased its stake in shares of Agenus by 81.3% in the 1st quarter. BNP Paribas Financial Markets now owns 188,414 shares of the biotechnology company’s stock valued at $109,000 after acquiring an additional 84,477 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. lifted its position in shares of Agenus by 2.5% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 558,606 shares of the biotechnology company’s stock valued at $324,000 after acquiring an additional 13,604 shares during the period. 61.46% of the stock is owned by institutional investors and hedge funds.

Agenus Stock Performance

Shares of AGEN opened at $5.03 on Thursday. Agenus Inc. has a 52 week low of $4.41 and a 52 week high of $24.20. The stock has a 50 day moving average price of $5.58 and a two-hundred day moving average price of $10.10. The firm has a market capitalization of $105.62 million, a P/E ratio of -0.39 and a beta of 1.36.

Agenus (NASDAQ:AGEN) last released its quarterly earnings results on Thursday, August 8th. The biotechnology company reported ($2.52) EPS for the quarter, missing analysts’ consensus estimates of ($1.33) by ($1.19). The company had revenue of $23.51 million during the quarter, compared to analyst estimates of $64.73 million. During the same period in the prior year, the firm earned ($4.00) earnings per share. On average, equities analysts forecast that Agenus Inc. will post -10.87 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. B. Riley reduced their price target on shares of Agenus from $42.00 to $18.00 and set a “buy” rating for the company in a report on Wednesday, August 14th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $7.00 target price (up from $3.00) on shares of Agenus in a research report on Friday, July 19th. HC Wainwright lowered Agenus from a “buy” rating to a “neutral” rating and cut their price target for the stock from $40.00 to $9.00 in a report on Thursday, July 18th. William Blair cut Agenus from an “outperform” rating to a “market perform” rating in a research note on Thursday, July 18th. Finally, Baird R W lowered Agenus from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 19th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Agenus currently has a consensus rating of “Hold” and a consensus price target of $10.50.

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.