Citigroup Inc. Lowers Stock Position in Agenus Inc. (NASDAQ:AGEN)

Citigroup Inc. cut its stake in shares of Agenus Inc. (NASDAQ:AGEN – Get Rating) by 39.5% in the 4th quarter, Holdings Channel reports. The institutional investor owned 768,547 shares of the biotechnology company’s stock after selling 502,537 shares during the quarter. Citigroup Inc.’s holdings in Agenus were worth $1,845,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. HighTower Advisors LLC grew its stake in shares of Agenus by 2.1% during the 4th quarter. HighTower Advisors LLC now owns 410,398 shares of the biotechnology company’s stock valued at $981,000 after buying an additional 8,586 shares during the period. UBS Group AG grew its stake in shares of Agenus by 516.4% during the 4th quarter. UBS Group AG now owns 1,170,405 shares of the biotechnology company’s stock valued at $2,809,000 after buying an additional 980,516 shares during the period. Swiss National Bank boosted its position in Agenus by 6.4% during the 4th quarter. Swiss National Bank now owns 615,400 shares of the biotechnology company’s stock worth $1,477,000 after purchasing an additional 37,100 shares during the period. Arizona State Retirement System boosted its position in Agenus by 8.5% during the 4th quarter. Arizona State Retirement System now owns 71,912 shares of the biotechnology company’s stock worth $173,000 after purchasing an additional 5,635 shares during the period. Finally, ProShare Advisors LLC boosted its position in Agenus by 25.7% during the 4th quarter. ProShare Advisors LLC now owns 39,196 shares of the biotechnology company’s stock worth $94,000 after purchasing an additional 8,002 shares during the period. 53.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. EF Hutton Acquisition Co. I reaffirmed a “buy” rating and set a $8.30 price target on shares of Agenus in a research report on Tuesday, March 28th. B. Riley reaffirmed a “buy” rating and set a $8.00 price target on shares of Agenus in a research report on Wednesday, March 29th. HC Wainwright reaffirmed a “buy” rating and set a $8.00 price target on shares of Agenus in a research report on Tuesday, February 28th. Finally, StockNews.com assumed coverage on shares of Agenus in a research report on Thursday, May 18th. They set a “sell” rating for the company. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $7.33.

Insider Activity

In related news, major shareholder Agenus Inc bought 128,689 shares of the business’s stock in a transaction dated Wednesday, May 3rd. The shares were acquired at an average price of $1.08 per share, for a total transaction of $138,984.12. Following the purchase, the insider now owns 21,473,374 shares in the company, valued at approximately $23,191,243.92. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In the last 90 days, insiders have purchased 250,954 shares of company stock worth $267,492. 4.80% of the stock is currently owned by corporate insiders.

Agenus Price Performance

NASDAQ:AGEN opened at $1.41 on Friday. The firm has a 50-day moving average of $1.52 and a two-hundred day moving average of $2.12. The stock has a market cap of $491.92 million, a P/E ratio of -1.72 and a beta of 1.43. Agenus Inc. has a 1-year low of $1.25 and a 1-year high of $3.37.

Agenus (NASDAQ:AGEN – Get Rating) last issued its earnings results on Tuesday, March 14th. The biotechnology company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.02). The company had revenue of $28.39 million during the quarter, compared to analyst estimates of $17.83 million. Agenus had a negative net margin of 264.19% and a negative return on equity of 1,159.04%. As a group, equities analysts expect that Agenus Inc. will post -0.81 earnings per share for the current year.

Agenus Company Profile

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Agenus, Inc is a clinical-stage company, which engages in the development and commercialization of technologies to treat cancers and infectious diseases. Its product pipeline includes Balstilimab, Zalifrelimab, AGEN1181, AGEN1327, AGEN2373, AGENt-797 and AGEN1777. The company was founded by Garo H. Armen and Pramod K.