The Manufacturers Life Insurance Company Sells 20,210 Shares of Agios Pharmaceuticals, Inc. $AGIO

The Manufacturers Life Insurance Company reduced its stake in shares of Agios Pharmaceuticals, Inc. (NASDAQ:AGIO) by 28.8% in the 1st quarter, Holdings Channel.com reports. The firm owned 50,046 shares of the biopharmaceutical company’s stock after selling 20,210 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Agios Pharmaceuticals were worth $1,693,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of AGIO. Quantinno Capital Management LP boosted its holdings in Agios Pharmaceuticals by 2.7% in the 1st quarter. Quantinno Capital Management LP now owns 27,591 shares of the biopharmaceutical company’s stock valued at $933,000 after purchasing an additional 736 shares during the period. Pale Fire Capital SE lifted its stake in shares of Agios Pharmaceuticals by 15.2% in the first quarter. Pale Fire Capital SE now owns 13,650 shares of the biopharmaceutical company’s stock valued at $462,000 after buying an additional 1,800 shares during the period. Arrowstreet Capital Limited Partnership acquired a new stake in Agios Pharmaceuticals during the first quarter worth about $8,473,000. Knott David M Jr grew its position in Agios Pharmaceuticals by 417.0% during the first quarter. Knott David M Jr now owns 93,058 shares of the biopharmaceutical company’s stock worth $3,148,000 after buying an additional 75,058 shares in the last quarter. Finally, Sei Investments Co. increased its stake in Agios Pharmaceuticals by 342.8% during the first quarter. Sei Investments Co. now owns 63,550 shares of the biopharmaceutical company’s stock valued at $2,150,000 after acquiring an additional 49,198 shares during the period.

Analysts Set New Price Targets

Several research firms have commented on AGIO. Citigroup upped their price target on Agios Pharmaceuticals from $46.00 to $52.00 and gave the company a “buy” rating in a report on Friday, July 31st. Truist Financial decreased their price objective on Agios Pharmaceuticals from $41.00 to $39.00 and set a “buy” rating on the stock in a report on Friday, July 31st. Weiss Ratings restated a “sell (d)” rating on shares of Agios Pharmaceuticals in a research report on Wednesday, June 24th. HC Wainwright upped their target price on Agios Pharmaceuticals from $52.00 to $55.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Finally, Bank of America upped their target price on Agios Pharmaceuticals from $40.00 to $46.00 and gave the company a “buy” rating in a research note on Tuesday, July 7th. Five investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $41.25.

Insider Buying and Selling

In other Agios Pharmaceuticals news, insider Sarah Gheuens sold 30,000 shares of the company’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $30.48, for a total transaction of $914,400.00. Following the sale, the insider directly owned 54,645 shares of the company’s stock, valued at approximately $1,665,579.60. This represents a 35.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 5.40% of the stock is currently owned by company insiders.

Agios Pharmaceuticals Price Performance

Shares of NASDAQ:AGIO opened at $32.59 on Tuesday. Agios Pharmaceuticals, Inc. has a fifty-two week low of $22.24 and a fifty-two week high of $46.00. The business’s fifty day moving average price is $34.84 and its two-hundred day moving average price is $31.08. The stock has a market capitalization of $1.95 billion, a price-to-earnings ratio of -4.65 and a beta of 0.58.

Agios Pharmaceuticals (NASDAQ:AGIO) last posted its earnings results on Thursday, July 30th. The biopharmaceutical company reported ($1.69) earnings per share for the quarter, missing the consensus estimate of ($1.65) by ($0.04). The firm had revenue of $44.75 million during the quarter, compared to the consensus estimate of $26.39 million. Agios Pharmaceuticals had a negative return on equity of 35.67% and a negative net margin of 418.24%. Research analysts expect that Agios Pharmaceuticals, Inc. will post -6.12 EPS for the current fiscal year.

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.