Agenus Inc. (NASDAQ:AGEN) stock is trading lower on Tuesday due to short-term profit-taking following a record-breaking price surge on Monday, when the stock gained between 95% and 111%.
On Tuesday, HC Wainwright & Co. maintained its Buy rating on Agenus and raised its price target for the stock to $30. The updated analyst outlook follows significant clinical and financial updates released by the biotechnology firm on Monday morning.
• Agenus shares are sliding. What’s behind AGEN decline?
Phase 1b Clinical Trial Results
The volatility comes after Agenus reported updated three-year Phase 1b data on Monday. The trial evaluated its botensilimab plus balstilimab combination in 123 heavily pretreated patients with refractory microsatellite-stable metastatic colorectal cancer without active liver metastases.
