Fundamental Analysis:
Agenus Inc. is an immuno-oncology company that develops technologies to treat cancers and other infectious diseases. One drug that they are developing, AGEN1181, has undergone phase 1/2 safety trials. The results from these trials were released on February 9, 2021, and the results will be presented at AACR on April 10, 2021. AGEN1181 is a colon cancer treatment and this is likely to attract many buyers.
Technical Analysis:
$AGEN recently broke its downtrend resistance line and has seen strong growth since. The MACD just crossed as well. We could see a sharp rebound in the price this week.
My Outlook:
I am anticipating at least $3.80 by the end of the week. We are seeing strong growth coming off of a large dip, and people are likely to get excited when they see that this is a cancer treatment. Playing the post-release is an option here as well since the price is very low and it is only in phase 1/2. However, because it is early in the development of this drug, the price will likely pop and then tank steadily the week after the release. If you plan on waiting for the presentation before selling, I would recommend selling at the market open next Monday for optimal gains. Like and Follow :) Good Luck!
If you like these biotech ideas, follow @CobraTrader13 for weekly biotech watchlists.
Agenus Inc. is an immuno-oncology company that develops technologies to treat cancers and other infectious diseases. One drug that they are developing, AGEN1181, has undergone phase 1/2 safety trials. The results from these trials were released on February 9, 2021, and the results will be presented at AACR on April 10, 2021. AGEN1181 is a colon cancer treatment and this is likely to attract many buyers.
Technical Analysis:
$AGEN recently broke its downtrend resistance line and has seen strong growth since. The MACD just crossed as well. We could see a sharp rebound in the price this week.
My Outlook:
I am anticipating at least $3.80 by the end of the week. We are seeing strong growth coming off of a large dip, and people are likely to get excited when they see that this is a cancer treatment. Playing the post-release is an option here as well since the price is very low and it is only in phase 1/2. However, because it is early in the development of this drug, the price will likely pop and then tank steadily the week after the release. If you plan on waiting for the presentation before selling, I would recommend selling at the market open next Monday for optimal gains. Like and Follow :) Good Luck!
If you like these biotech ideas, follow @CobraTrader13 for weekly biotech watchlists.
