Agenus (AGEN) Soars 19.26% on FDA Milestone

Agenus (AGEN) surged 19.26% today, marking its third consecutive day of gains, with a cumulative increase of 45.27% over the past three days. The share price reached its highest level since July 2024, with an intraday gain of 23.99%.

The strategy of buying AGEN shares after they reached a recent high and holding for one week resulted in a -83.23% return, significantly underperforming the benchmark, which had a return of -100.00%. Despite this, the strategy had a positive excess return of 16.77% and a maximum drawdown of 0.00%, indicating it avoided the worst of the market's downturns. However, the strategy's Sharpe ratio of -0.50 and high volatility of 101.27% suggest it was a risky approach with moderate returns.

Agenus has recently achieved a significant regulatory milestone with the FDA's alignment on the Phase 3 design for BOT/BAL's treatment of MSS colorectal cancer. This alignment is a crucial step towards registration, which has positively impacted the stock price. The company's stock has also crossed above its 200-day moving average, indicating a bullish trend that could attract more investors and contribute to the stock price increase.

The positive regulatory developments and the bullish trend indicated by the stock crossing above its 200-day moving average have collectively driven the recent surge in Agenus' stock price. These factors have created a favorable environment for the company, attracting investor interest and confidence in its future prospects.