Rafferty Asset Management LLC Purchases 18,817 Shares of Agios Pharmaceuticals, Inc. $AGIO

Rafferty Asset Management LLC grew its position in shares of Agios Pharmaceuticals, Inc. (NASDAQ:AGIO) by 38.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 68,220 shares of the biopharmaceutical company’s stock after purchasing an additional 18,817 shares during the quarter. Rafferty Asset Management LLC owned approximately 0.12% of Agios Pharmaceuticals worth $2,738,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. First Horizon Corp purchased a new stake in Agios Pharmaceuticals in the third quarter worth approximately $45,000. NewEdge Advisors LLC bought a new stake in shares of Agios Pharmaceuticals in the 1st quarter worth approximately $40,000. Quantbot Technologies LP purchased a new stake in shares of Agios Pharmaceuticals in the 3rd quarter valued at $79,000. PNC Financial Services Group Inc. boosted its stake in shares of Agios Pharmaceuticals by 23.4% in the 2nd quarter. PNC Financial Services Group Inc. now owns 4,419 shares of the biopharmaceutical company’s stock valued at $147,000 after purchasing an additional 837 shares in the last quarter. Finally, Acadian Asset Management LLC bought a new position in shares of Agios Pharmaceuticals during the 1st quarter valued at $133,000.

Insider Activity

In related news, insider James William Burns sold 2,932 shares of the company’s stock in a transaction that occurred on Tuesday, December 30th. The stock was sold at an average price of $27.09, for a total transaction of $79,427.88. Following the completion of the transaction, the insider owned 31,718 shares in the company, valued at $859,240.62. This represents a 8.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Cecilia Jones sold 2,932 shares of Agios Pharmaceuticals stock in a transaction on Tuesday, December 30th. The shares were sold at an average price of $27.09, for a total transaction of $79,427.88. Following the completion of the sale, the chief financial officer owned 37,394 shares in the company, valued at approximately $1,013,003.46. This trade represents a 7.27% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 33,303 shares of company stock valued at $901,977. 4.30% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have weighed in on AGIO. Royal Bank Of Canada downgraded shares of Agios Pharmaceuticals from an “outperform” rating to a “sector perform” rating and lowered their price target for the stock from $57.00 to $28.00 in a research note on Wednesday, November 19th. Bank of America boosted their target price on Agios Pharmaceuticals from $32.00 to $34.00 and gave the company a “buy” rating in a research note on Wednesday, December 24th. Wall Street Zen upgraded Agios Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, February 14th. Truist Financial boosted their price objective on Agios Pharmaceuticals from $32.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, December 24th. Finally, Leerink Partners increased their price objective on Agios Pharmaceuticals from $34.00 to $40.00 and gave the company an “outperform” rating in a research note on Friday, December 26th. Six equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $39.78.

Agios Pharmaceuticals Price Performance

AGIO opened at $28.19 on Thursday. The business has a 50 day simple moving average of $28.09 and a two-hundred day simple moving average of $33.37. The firm has a market capitalization of $1.65 billion, a price-to-earnings ratio of -3.96 and a beta of 0.89. Agios Pharmaceuticals, Inc. has a one year low of $22.24 and a one year high of $46.00.

About Agios Pharmaceuticals

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.