Insider Selling: Agios Pharmaceuticals (NASDAQ:AGIO) Insider Sells $113,848.80 in Stock

Agios Pharmaceuticals, Inc. (NASDAQ:AGIO) insider James William Burns sold 3,280 shares of the stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $34.71, for a total transaction of $113,848.80. Following the completion of the sale, the insider owned 49,306 shares of the company’s stock, valued at approximately $1,711,411.26. This trade represents a 6.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 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.

Agios Pharmaceuticals Stock Performance

NASDAQ:AGIO opened at $33.77 on Thursday. The firm has a market cap of $1.98 billion, a price-to-earnings ratio of -4.75 and a beta of 0.79. Agios Pharmaceuticals, Inc. has a 52 week low of $22.24 and a 52 week high of $46.00. The firm has a 50-day moving average price of $29.24 and a two-hundred day moving average price of $32.11.

Wall Street Analysts Forecast Growth

AGIO has been the subject of a number of research reports. Bank of America increased their target price on shares of Agios Pharmaceuticals from $32.00 to $34.00 and gave the company a “buy” rating in a research report on Wednesday, December 24th. Weiss Ratings reissued a “sell (d)” rating on shares of Agios Pharmaceuticals in a research report on Friday, March 27th. JPMorgan Chase & Co. increased their target price on shares of Agios Pharmaceuticals from $31.00 to $36.00 and gave the company a “neutral” rating in a research report on Monday. HC Wainwright increased their target price on shares of Agios Pharmaceuticals from $62.00 to $65.00 and gave the company a “buy” rating in a research report on Thursday, February 12th. Finally, Truist Financial increased their target price on shares of Agios Pharmaceuticals from $32.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, December 24th. 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $42.67.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. T. Rowe Price Investment Management Inc. bought a new position in shares of Agios Pharmaceuticals during the 4th quarter valued at approximately $25,000. Assetmark Inc. boosted its holdings in Agios Pharmaceuticals by 37.9% in the 4th quarter. Assetmark Inc. now owns 1,317 shares of the biopharmaceutical company’s stock worth $36,000 after buying an additional 362 shares during the period. NewEdge Advisors LLC bought a new position in Agios Pharmaceuticals in the 1st quarter worth approximately $40,000. First Horizon Corp bought a new position in Agios Pharmaceuticals in the 3rd quarter worth approximately $45,000. Finally, Caitong International Asset Management Co. Ltd bought a new position in Agios Pharmaceuticals in the 4th quarter worth approximately $49,000.

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.