Agios Pharmaceuticals, Inc. $AGIO Stock: Assenagon Asset Management S.A. Grows Position

Assenagon Asset Management S.A. boosted its position in shares of Agios Pharmaceuticals, Inc. (NASDAQ:AGIO) by 1,714.6% in the third quarter, Holdings Channel.com reports. The firm owned 1,886,412 shares of the biopharmaceutical company’s stock after purchasing an additional 1,782,457 shares during the period. Assenagon Asset Management S.A.’s holdings in Agios Pharmaceuticals were worth $62,723,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Nykredit A S acquired a new position in Agios Pharmaceuticals in the 2nd quarter worth about $26,000. Quantinno Capital Management LP raised its stake in shares of Agios Pharmaceuticals by 2.7% during the 1st quarter. Quantinno Capital Management LP now owns 27,591 shares of the biopharmaceutical company’s stock worth $933,000 after purchasing an additional 736 shares in the last quarter. AlphaCentric Advisors LLC raised its stake in shares of Agios Pharmaceuticals by 6.3% during the 1st quarter. AlphaCentric Advisors LLC now owns 13,971 shares of the biopharmaceutical company’s stock worth $473,000 after purchasing an additional 830 shares in the last quarter. Quantbot Technologies LP acquired a new stake in shares of Agios Pharmaceuticals during the 2nd quarter valued at about $43,000. Finally, Integrated Wealth Concepts LLC acquired a new stake in shares of Agios Pharmaceuticals during the 2nd quarter valued at about $47,000.

Insider Transactions at Agios Pharmaceuticals

In other Agios Pharmaceuticals news, insider Sarah Gheuens sold 30,000 shares of the firm’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 completion of the transaction, the insider owned 54,645 shares in the company, valued at $1,665,579.60. This trade represents a 35.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 5.40% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

AGIO has been the subject of several recent research reports. JPMorgan Chase & Co. boosted their price target on Agios Pharmaceuticals from $31.00 to $34.00 and gave the company a “neutral” rating in a research note on Friday, August 7th. Bank of America increased their price objective on Agios Pharmaceuticals from $46.00 to $50.00 and gave the stock a “buy” rating in a report on Monday, September 21st. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Agios Pharmaceuticals in a research report on Monday, September 21st. TD Cowen upgraded shares of Agios Pharmaceuticals to a “strong-buy” rating in a research note on Monday, August 24th. Finally, Truist Financial reduced their target price on shares of Agios Pharmaceuticals from $39.00 to $37.00 and set a “buy” rating for the company in a research note on Wednesday, October 7th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Agios Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus target price of $41.50.

Agios Pharmaceuticals Stock Performance

Shares of AGIO stock opened at $31.32 on Friday. The stock’s 50 day simple moving average is $33.08 and its 200 day simple moving average is $32.69. Agios Pharmaceuticals, Inc. has a twelve month low of $22.24 and a twelve month high of $46.00. The company has a market capitalization of $1.87 billion, a price-to-earnings ratio of -4.47 and a beta of 0.63.

Agios Pharmaceuticals (NASDAQ:AGIO) last posted its earnings results on Thursday, July 30th. The biopharmaceutical company reported ($1.69) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.65) by ($0.04). The firm had revenue of $44.75 million during the quarter, compared to analyst estimates of $26.39 million. Agios Pharmaceuticals had a negative net margin of 418.24% and a negative return on equity of 35.67%. On average, analysts forecast that Agios Pharmaceuticals, Inc. will post -5.83 EPS for the current fiscal year.

About Agios Pharmaceuticals

Agios Pharmaceuticals, Inc is a biopharmaceutical company focused on discovering and developing medicines for rare diseases. Based in Cambridge, Massachusetts, the company specializes in cellular metabolism and the development of therapies designed to address underlying disease biology rather than only treating symptoms.

Agios’ lead commercial product is Pyrukynd (mitapivat), an oral pyruvate kinase activator approved for the treatment of hemolytic anemia in adults with pyruvate kinase deficiency, a rare inherited blood disorder.