QVT Financial LP Cuts Position in Agenus Inc (NASDAQ:AGEN)

QVT Financial LP decreased its holdings in shares of Agenus Inc (NASDAQ:AGEN) by 7.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,201,263 shares of the biotechnology company’s stock after selling 267,563 shares during the quarter. Agenus comprises approximately 0.6% of QVT Financial LP’s portfolio, making the stock its 22nd biggest holding. QVT Financial LP owned approximately 3.14% of Agenus worth $9,792,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Cubist Systematic Strategies LLC bought a new stake in Agenus during the 3rd quarter valued at $134,000. Voya Investment Management LLC raised its holdings in Agenus by 18.5% during the 2nd quarter. Voya Investment Management LLC now owns 40,855 shares of the biotechnology company’s stock valued at $160,000 after acquiring an additional 6,381 shares during the period. North Star Asset Management Inc. bought a new stake in Agenus during the 4th quarter valued at $222,000. The Manufacturers Life Insurance Company raised its holdings in Agenus by 6.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 63,595 shares of the biotechnology company’s stock valued at $248,000 after acquiring an additional 4,006 shares during the period. Finally, Highbridge Capital Management LLC raised its holdings in Agenus by 242.8% during the 3rd quarter. Highbridge Capital Management LLC now owns 56,642 shares of the biotechnology company’s stock valued at $249,000 after acquiring an additional 40,118 shares during the period. 36.46% of the stock is currently owned by institutional investors and hedge funds.

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A number of equities research analysts have issued reports on the stock. Zacks Investment Research raised shares of Agenus from a “hold” rating to a “buy” rating and set a $4.50 target price on the stock in a report on Tuesday, January 9th. BidaskClub raised shares of Agenus from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Finally, ValuEngine raised shares of Agenus from a “sell” rating to a “hold” rating in a report on Friday, February 23rd. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $5.81.

Shares of Agenus stock traded down $0.15 during trading on Monday, hitting $4.56. The stock had a trading volume of 1,215,886 shares, compared to its average volume of 1,687,818. The stock has a market cap of $483.04, a P/E ratio of -3.71 and a beta of 1.66. Agenus Inc has a 12 month low of $3.20 and a 12 month high of $6.19. The company has a debt-to-equity ratio of -1.88, a quick ratio of 1.30 and a current ratio of 1.30.

Agenus (NASDAQ:AGEN) last released its quarterly earnings results on Thursday, March 15th. The biotechnology company reported ($0.35) earnings per share for the quarter, missing the consensus estimate of ($0.28) by ($0.07). The firm had revenue of $8.30 million for the quarter, compared to analysts’ expectations of $5.30 million. The company’s revenue was up 48.2% on a year-over-year basis. sell-side analysts predict that Agenus Inc will post -1.52 earnings per share for the current year.

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Agenus Profile

Agenus Inc (Agenus) is an immuno-oncology (I-O) company. The Company focuses on the discovery and development of therapies that engage the body’s immune system to fight cancer. It is developing a I-O portfolio driven by platforms and programs, such as antibody discovery platforms, including Retrocyte Display, SECANT yeast display and phage display technologies designed to produce human antibodies; antibody candidate programs, including checkpoint modulator (CPM) programs; vaccine programs, including Prophage, AutoSynVax and PhosPhoSynVax, and saponin-based vaccine adjuvants, principally QS-21 Stimulon adjuvant (QS-21 Stimulon).

Institutional Ownership by Quarter for Agenus (NASDAQ:AGEN)

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