Agenus Inc [NASDAQ: AGEN] plunged by -$0.01 during the normal trading session on while it closed the day at $0.50. The company report on April 5, 2024 at 4:30 PM that Agenus Announces Reverse Stock Split of Common Stock.
Agenus Inc. (Nasdaq: AGEN), a leader in discovering and developing novel immunological agents to treat various cancers, today announced its stockholders have approved a one-for-twenty reverse stock split of its issued and outstanding common stock, which will go into effect at 12:01 a.m., Eastern Time on April 12, 2024. The reverse stock split is intended to give Agenus greater flexibility in its future financing needs and to increase the per share trading price of Agenus’ common stock to satisfy the minimum price requirement for continued listing on the Nasdaq Capital Markets and to qualify for inclusion in the Russell Indices. Agenus expects that upon the opening of trading on April 12, 2024, its common stock will trade on the Nasdaq Capital Market on a split-adjusted basis under the current trading symbol “AGEN” and the new CUSIP number 00847G 804.
The reverse stock split affects all issued and outstanding shares of Agenus’ common stock. The par value of the Agenus’ common stock will remain unchanged at $0.01 per share after the reverse stock split. The reverse stock split affects all stockholders uniformly and will not alter any stockholder’s percentage interest in Agenus’ equity, except to the extent that the reverse stock split results in some stockholders receiving cash in lieu of any fractional shares as described below.
Agenus Inc stock has also loss -13.16% of its value over the past 7 days. However, AGEN stock has declined by -35.15% in the 3 months of the year. Over the past six months meanwhile, it has lost -50.13% and lost -39.16% year-on date.
The market cap for AGEN stock reached $211.01 million, with 418.92 million shares outstanding and 396.26 million shares in the current float. Compared to the average trading volume of 10.26M shares, AGEN reached a trading volume of 11767177 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about Agenus Inc [AGEN]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for AGEN shares is $5.50 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on AGEN stock is a recommendation set at 1.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Robert W. Baird have made an estimate for Agenus Inc shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on June 06, 2023. While these analysts kept the previous recommendation, Robert W. Baird raised their target price from $60 to $80. The new note on the price target was released on June 06, 2023, representing the official price target for Agenus Inc stock. Previously, the target price had yet another raise to $8, while H.C. Wainwright analysts kept a Buy rating on AGEN stock.
The Average True Range (ATR) for Agenus Inc is set at 0.06, with the Price to Sales ratio for AGEN stock in the period of the last 12 months amounting to 1.35.
AGEN stock trade performance evaluation
Agenus Inc [AGEN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -13.16. With this latest performance, AGEN shares dropped by -28.04% in over the last four-week period, additionally sinking by -50.13% over the last 6 months – not to mention a drop of -65.55% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for AGEN stock in for the last two-week period is set at 37.29, with the RSI for the last a single of trading hit 34.33, and the three-weeks RSI is set at 39.74 for Agenus Inc [AGEN]. The present Moving Average for the last 50 days of trading for this stock 0.6452, while it was recorded at 0.5278 for the last single week of trading, and 0.9912 for the last 200 days.
Agenus Inc [AGEN]: An insightful look at the core fundamentals
Agenus Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.44 and a Current Ratio set at 0.44.
Earnings per share (EPS) analysis for Agenus Inc [AGEN] stock
With the latest financial reports released by the company, Agenus Inc posted -0.22/share EPS, while the average EPS was predicted by analysts to be reported at -0.21/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -4.80%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for AGEN.
Agenus Inc [AGEN]: Institutional Ownership
The top three institutional holders of AGEN stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in AGEN stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in AGEN stock with ownership which is approximately 5.8386%.
