Agenus (AGEN) Loses -41.56% in 4 Weeks, Here's Why a Trend Reversal May be Around the Corner

Core Viewpoint - Agenus (AGEN) has experienced significant selling pressure, resulting in a 41.6% decline in stock price over the past four weeks, but analysts anticipate improved earnings in the near future [1]. Group 1: Technical Analysis - The Relative Strength Index (RSI) for AGEN is currently at 16.18, indicating that the heavy selling may be exhausting, suggesting a potential rebound [5]. - AGEN's RSI reading of 32.579 as of November 8, 2023, indicates it is approaching oversold territory, which typically signals a possible price reversal [6]. Group 2: Earnings Estimates - There has been a strong consensus among sell-side analysts to raise earnings estimates for AGEN, leading to a 38.9% increase in the consensus EPS estimate over the last 30 days [7]. - An upward trend in earnings estimate revisions is generally associated with price appreciation in the near term [7]. Group 3: Analyst Ratings - AGEN currently holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimate revisions and EPS surprises, indicating a potential turnaround [8].