Federated Hermes Inc. Makes New $1.92 Million Investment in Agenus Inc. (NASDAQ:AGEN)

Federated Hermes Inc. acquired a new stake in shares of Agenus Inc. (NASDAQ:AGEN) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 114,677 shares of the biotechnology company’s stock, valued at approximately $1,921,000. Federated Hermes Inc. owned 0.55% of Agenus at the end of the most recent quarter.

A number of other large investors have also modified their holdings of AGEN. RPO LLC acquired a new stake in Agenus during the fourth quarter worth $43,000. Ables Iannone Moore & Associates Inc. bought a new position in shares of Agenus during the 4th quarter worth about $65,000. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Agenus during the 4th quarter valued at about $95,000. BNP Paribas Financial Markets increased its stake in Agenus by 81.3% in the first 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 during the period. Finally, Powell Investment Advisors LLC increased its stake in Agenus by 21.8% in the first quarter. Powell Investment Advisors LLC now owns 243,500 shares of the biotechnology company’s stock valued at $141,000 after acquiring an additional 43,500 shares during the period. 61.46% of the stock is currently owned by institutional investors and hedge funds.

Agenus Stock Performance

Shares of AGEN opened at $5.84 on Friday. The stock has a fifty day moving average price of $6.49 and a two-hundred day moving average price of $10.36. The company has a market cap of $122.63 million, a price-to-earnings ratio of -0.45 and a beta of 1.36. Agenus Inc. has a 52-week low of $4.41 and a 52-week high of $25.40.

Agenus (NASDAQ:AGEN) last issued its quarterly earnings results on Thursday, August 8th. The biotechnology company reported ($2.52) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.33) by ($1.19). The company had revenue of $23.51 million for the quarter, compared to analyst estimates of $64.73 million. During the same quarter last year, the business posted ($4.00) EPS. As a group, research analysts predict that Agenus Inc. will post -10.87 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on AGEN. Baird R W downgraded Agenus from a “strong-buy” rating to a “hold” rating in a report on Friday, July 19th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $7.00 price target (up previously from $3.00) on shares of Agenus in a research note on Friday, July 19th. William Blair cut Agenus from an “outperform” rating to a “market perform” rating in a research report on Thursday, July 18th. Robert W. Baird cut Agenus from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $35.00 to $8.00 in a report on Friday, July 19th. Finally, HC Wainwright lowered shares of Agenus from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $40.00 to $9.00 in a report on Thursday, July 18th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $10.50.

Agenus 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.