The stock of Agenus Inc. (NASDAQ:AGEN) is now priced at $4.22 and the shares are -0.21 points down or -4.74% lower compared to its previous closing price of $4.43. The stock had 1.932 million contracts set over the past session. AGEN shares’ daily volume is compared to its average trading volume at 3.178 million shares. However, it has a float of 153 million and although its performance was 13.75% over the week, it’s one to watch. Analysts have given the AGEN stock a yearly average price target of $6.5 per share. It means the stock’s upside potential is 54.03% with the AGEN share price recently placing at $4.11 to $4.4363. However, some brokerage firms have priced the stock below the average, including one that has called $5.
The shorts are climbing into the Agenus Inc. stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the AGEN shares have risen. Short interest in the stock represents just 15.47% of its float, but the volume has raised by 2704977. The volume of shorted shares rised to 23.657 million from 20.952 million shares over the last two weeks. The average intraday trading volume has been 2.823 million shares, which means that days to cover moved to roughly 8.381468.
In the last trading session, Agenus Inc. (NASDAQ:AGEN) raised by $0.51 over the week and gained $0.98 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $4.78. The stock recorded its established 52-week high on 06/02/20.
Since 03/23/20, the stock has traded to a low of $1.82 at 131.87%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 1.99. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Agenus Inc.’s two-week RSI is 61.75. This suggests that the stock is neutral at the moment and that AGEN shares’ price movement remains stable. The stochastic readings are equally revealing at 88.5% meaning the AGEN share price is currently in oversold territory.
The technical chart shows that the AGEN stock will likely settle at between $4.4 and $4.58 per share. However, if the stock dips below $4.07, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $3.93.
Currently, the stock is trading in the green of MACD, with a reading of 0.34. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Maxim Group assigned AGEN a rating of Buy in their resuming review released on November 19. B. Riley FBR analysts see the stock as a Buy in a flash note released to investors on April 22 initiating covering the stock. H.C. Wainwright seeing the stock struggling downgraded it from Buy to Neutral on October 28 placing it at $10 to $5.
The average rating for the AGEN equity is 1.33 and is currently gathering a bullish momentum. Of 3 analysts tracking Agenus Inc. polled by Reuters, 0 rated AGEN as a hold. The remaining 3 analysts were split evenly. However, the split wasn’t equal as a majority (3) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Agenus Inc. (NASDAQ:AGEN) will decrease by about -99.98%, which will see them reach $14 million. The company’s full-year revenues are, however, expected to diminish by about -52.86%, down from $150 million to $70.74 million. AGEN’s expected adjusted earnings should drop almost -21.21% to end up at -$0.26 per share, while for the fiscal year, analysts project the company’s earnings to grow by about 27.5% to record -$1.02/share.