Pictet Asset Management Holding SA Has $5.57 Million Stock Holdings in Agios Pharmaceuticals, Inc. $AGIO

Pictet Asset Management Holding SA cut its stake in shares of Agios Pharmaceuticals, Inc. (NASDAQ:AGIO) by 24.7% during the fourth quarter, Holdings Channel reports. The firm owned 205,019 shares of the biopharmaceutical company’s stock after selling 67,142 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Agios Pharmaceuticals were worth $5,569,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Creative Planning raised its position in shares of Agios Pharmaceuticals by 2.2% during the third quarter. Creative Planning now owns 13,119 shares of the biopharmaceutical company’s stock worth $527,000 after purchasing an additional 280 shares during the period. Assetmark Inc. raised its position in shares of Agios Pharmaceuticals by 37.9% during the fourth quarter. Assetmark Inc. now owns 1,317 shares of the biopharmaceutical company’s stock worth $36,000 after purchasing an additional 362 shares during the period. The Manufacturers Life Insurance Company raised its position in shares of Agios Pharmaceuticals by 0.4% during the second quarter. The Manufacturers Life Insurance Company now owns 132,083 shares of the biopharmaceutical company’s stock worth $4,393,000 after purchasing an additional 512 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Agios Pharmaceuticals by 26.2% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,834 shares of the biopharmaceutical company’s stock worth $77,000 after purchasing an additional 588 shares during the period. Finally, CANADA LIFE ASSURANCE Co raised its position in shares of Agios Pharmaceuticals by 3.4% during the third quarter. CANADA LIFE ASSURANCE Co now owns 20,325 shares of the biopharmaceutical company’s stock worth $796,000 after purchasing an additional 662 shares during the period.

Agios Pharmaceuticals Stock Performance

NASDAQ:AGIO opened at $28.16 on Monday. The firm has a market capitalization of $1.67 billion, a price-to-earnings ratio of -3.88 and a beta of 0.58. Agios Pharmaceuticals, Inc. has a 1-year low of $22.24 and a 1-year high of $46.00. The business’s fifty day moving average price is $29.87 and its 200 day moving average price is $30.90.

Agios Pharmaceuticals (NASDAQ:AGIO) last posted its quarterly earnings results on Wednesday, April 29th. The biopharmaceutical company reported ($1.69) earnings per share for the quarter, beating the consensus estimate of ($1.81) by $0.12. The firm had revenue of $20.75 million for the quarter, compared to analyst estimates of $13.30 million. Agios Pharmaceuticals had a negative return on equity of 34.11% and a negative net margin of 639.84%.The firm’s revenue was up 137.7% compared to the same quarter last year. Equities analysts forecast that Agios Pharmaceuticals, Inc. will post -6.3 earnings per share for the current year.

Insider Activity

In other Agios Pharmaceuticals news, insider Krishnan Viswanadhan sold 2,959 shares of the business’s stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $27.80, for a total value of $82,260.20. Following the transaction, the insider owned 5,141 shares in the company, valued at $142,919.80. The trade was a 36.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider James William Burns sold 3,280 shares of the company’s stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $34.71, for a total value of $113,848.80. Following the completion of the transaction, the insider directly owned 49,306 shares in the company, valued at approximately $1,711,411.26. The trade was a 6.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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. Insiders sold 15,582 shares of company stock valued at $520,405 in the last ninety days. Corporate insiders own 5.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. boosted their target price on Agios Pharmaceuticals from $31.00 to $36.00 and gave the stock a “neutral” rating in a research report on Monday, April 6th. HC Wainwright dropped their price target on Agios Pharmaceuticals from $65.00 to $50.00 and set a “buy” rating on the stock in a research report on Monday, April 20th. Citigroup upped their price target on Agios Pharmaceuticals from $38.00 to $46.00 and gave the company a “buy” rating in a research report on Thursday, March 5th. Truist Financial dropped their price target on Agios Pharmaceuticals from $39.00 to $36.00 and set a “buy” rating on the stock in a research report on Thursday. Finally, Bank of America dropped their price target on Agios Pharmaceuticals from $44.00 to $41.00 and set a “buy” rating on the stock in a research report on Tuesday, April 21st. Six investment 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $41.56.

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.