The past nine months have been rough ones to be an Agenus (NASDAQ: AGEN) shareholder. The stock has collapsed by about 75% from the peak it set last June. Investment bank analysts on Wall Street who follow the Massachusetts-headquartered cancer drug developer think it’s been underappreciated. For example, B. Riley recently reiterated a buy rating […]
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Why Agenus Stock Plummeted by Nearly 30% on Its Stock Split News Today
Three otherwise innocuous words — reverse stock split — can cause much disappointment and even sow panic in an investor community. Shareholders of clinical-stage biotech Agenus (NASDAQ: AGEN) experienced this vividly on Thursday when their company announced its intention to start going down that road. The stock’s price fell sharply, by almost 30%, contrasting with […]