Polar Capital LLP lowered its stake in shares of Agios Pharmaceuticals Inc (NASDAQ:AGIO) by 44.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 335,000 shares of the biopharmaceutical company’s stock after selling 267,342 shares during the period. Polar Capital LLP’s holdings in Agios Pharmaceuticals were worth $15,447,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Quantamental Technologies LLC purchased a new position in shares of Agios Pharmaceuticals during the 4th quarter valued at about $28,000. Advisor Group Inc. raised its stake in shares of Agios Pharmaceuticals by 33.1% during the 4th quarter. Advisor Group Inc. now owns 1,195 shares of the biopharmaceutical company’s stock valued at $55,000 after buying an additional 297 shares during the last quarter. ETF Managers Group LLC raised its stake in shares of Agios Pharmaceuticals by 15.7% during the 4th quarter. ETF Managers Group LLC now owns 1,592 shares of the biopharmaceutical company’s stock valued at $73,000 after buying an additional 216 shares during the last quarter. MML Investors Services LLC purchased a new position in shares of Agios Pharmaceuticals during the 3rd quarter valued at about $255,000. Finally, Pacer Advisors Inc. purchased a new position in shares of Agios Pharmaceuticals during the 3rd quarter valued at about $257,000. Institutional investors and hedge funds own 98.19% of the company’s stock.
Shares of Agios Pharmaceuticals stock opened at $63.51 on Friday. Agios Pharmaceuticals Inc has a twelve month low of $41.63 and a twelve month high of $99.82. The stock has a market capitalization of $3.85 billion, a P/E ratio of -10.53 and a beta of 2.38.
Agios Pharmaceuticals (NASDAQ:AGIO) last announced its quarterly earnings results on Thursday, February 14th. The biopharmaceutical company reported ($1.58) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.65) by $0.07. Agios Pharmaceuticals had a negative return on equity of 44.13% and a negative net margin of 366.61%. The firm had revenue of $30.00 million during the quarter, compared to analyst estimates of $19.98 million. During the same quarter in the previous year, the business earned ($1.81) EPS. Agios Pharmaceuticals’s revenue for the quarter was up 200.0% compared to the same quarter last year. As a group, research analysts forecast that Agios Pharmaceuticals Inc will post -6.64 earnings per share for the current year.
In related news, insider Steven L. Hoerter sold 10,000 shares of Agios Pharmaceuticals stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $67.01, for a total value of $670,100.00. Following the sale, the insider now directly owns 26,939 shares in the company, valued at approximately $1,805,182.39. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Scott Biller sold 9,000 shares of Agios Pharmaceuticals stock in a transaction dated Wednesday, February 27th. The stock was sold at an average price of $65.00, for a total value of $585,000.00. Following the completion of the sale, the insider now owns 28,277 shares in the company, valued at $1,838,005. The disclosure for this sale can be found here. Insiders own 3.02% of the company’s stock.
Several brokerages recently weighed in on AGIO. Oppenheimer restated a “market perform” rating on shares of Agios Pharmaceuticals in a research note on Wednesday, February 20th. Svb Leerink upgraded Agios Pharmaceuticals from a “market perform” rating to an “outperform” rating and set a $80.00 price target for the company in a research note on Friday, February 15th. Zacks Investment Research upgraded Agios Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Tuesday, February 12th. BidaskClub upgraded Agios Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Thursday, January 17th. Finally, Cowen restated a “buy” rating on shares of Agios Pharmaceuticals in a research note on Wednesday. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $97.86.
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About Agios Pharmaceuticals
Agios Pharmaceuticals, Inc, a biopharmaceutical company, engages in the discovery and development of medicines for the treatment of cancer and rare genetic metabolic disorders in the United States. It is developing IDHIFA, a potent inhibitor of the mutated isocitrate dehydrogenase (IDH) 2 protein that is in Phase I/II clinical trials for patients with advanced hematologic malignancies with an IDH 2 mutation; Phase III clinical trial for patients with IDH2 mutant-positive acute myeloid leukemia (AML); Phase Ib frontline combination trial for patients with newly diagnosed AML with an IDH2 or IDH1 mutation; and Phase I/II frontline combination trial for patients with newly diagnosed AML.
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