Assenagon Asset Management S.A. Decreases Stake in Agios Pharmaceuticals, Inc. $AGIO

Assenagon Asset Management S.A. lessened its holdings in shares of Agios Pharmaceuticals, Inc. (NASDAQ:AGIO) by 39.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 67,153 shares of the biopharmaceutical company’s stock after selling 43,287 shares during the period. Assenagon Asset Management S.A.’s holdings in Agios Pharmaceuticals were worth $2,272,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. AQR Capital Management LLC boosted its holdings in Agios Pharmaceuticals by 66.8% during the first quarter. AQR Capital Management LLC now owns 51,489 shares of the biopharmaceutical company’s stock worth $1,498,000 after buying an additional 20,625 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Agios Pharmaceuticals by 7.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,327 shares of the biopharmaceutical company’s stock valued at $1,274,000 after buying an additional 2,920 shares in the last quarter. NewEdge Advisors LLC purchased a new position in Agios Pharmaceuticals in the first quarter valued at about $40,000. Goldman Sachs Group Inc. lifted its position in shares of Agios Pharmaceuticals by 16.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 658,652 shares of the biopharmaceutical company’s stock valued at $19,299,000 after acquiring an additional 91,482 shares during the period. Finally, Woodline Partners LP acquired a new stake in shares of Agios Pharmaceuticals during the 1st quarter valued at approximately $597,000.

Agios Pharmaceuticals Price Performance

AGIO opened at $37.11 on Wednesday. Agios Pharmaceuticals, Inc. has a 12 month low of $22.24 and a 12 month high of $46.00. The business has a 50-day moving average of $29.55 and a two-hundred day moving average of $29.11. The stock has a market capitalization of $2.21 billion, a price-to-earnings ratio of -5.12 and a beta of 0.59.

Agios Pharmaceuticals (NASDAQ:AGIO) last announced its quarterly earnings data on Wednesday, April 29th. The biopharmaceutical company reported ($1.69) earnings per share for the quarter, topping the consensus estimate of ($1.81) by $0.12. Agios Pharmaceuticals had a negative net margin of 639.84% and a negative return on equity of 34.11%. The business had revenue of $20.75 million for the quarter, compared to analyst estimates of $13.30 million. Agios Pharmaceuticals’s revenue was up 137.7% on a year-over-year basis. Equities research analysts anticipate that Agios Pharmaceuticals, Inc. will post -6.28 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on AGIO shares. JPMorgan Chase & Co. lowered their price target on Agios Pharmaceuticals from $36.00 to $31.00 and set a “neutral” rating on the stock in a report on Thursday, June 11th. Bank of America cut their target price on shares of Agios Pharmaceuticals from $41.00 to $40.00 and set a “buy” rating for the company in a research report on Friday, May 29th. Citigroup boosted their price target on Agios Pharmaceuticals from $38.00 to $46.00 and gave the stock a “buy” rating in a report on Thursday, March 5th. Wall Street Zen raised shares of Agios Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Sunday, March 22nd. Finally, Truist Financial cut their price target on Agios Pharmaceuticals from $39.00 to $36.00 and set a “buy” rating for the company in a report on Thursday, April 30th. Six research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $40.89.

Insider Activity at Agios Pharmaceuticals

In related news, insider James William Burns sold 3,280 shares of the company’s stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $34.71, for a total transaction of $113,848.80. Following the completion of the transaction, the insider owned 49,306 shares of the company’s stock, valued at approximately $1,711,411.26. This represents a 6.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Tsveta Milanova sold 3,262 shares of the stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of $34.71, for a total transaction of $113,224.02. Following the transaction, the insider directly owned 46,829 shares in the company, valued at approximately $1,625,434.59. This represents a 6.51% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 12,623 shares of company stock worth $438,144. 5.40% of the stock is currently owned by company insiders.

Agios Pharmaceuticals Company Profile

Agios Pharmaceuticals, Inc is a biopharmaceutical company founded in 2008 as a spin-out from research at Dana-Farber Cancer Institute and the Broad Institute. Headquartered in Cambridge, Massachusetts, Agios focuses on understanding and targeting cellular metabolism to develop novel therapies for cancer and rare genetic diseases. The company’s scientific platform integrates genomic discovery, metabolic profiling and precision medicine approaches to identify and advance small-molecule candidates that correct or exploit metabolic dysfunction.

Agios’s lead products are IDH (isocitrate dehydrogenase) inhibitors that target specific cancer mutations.