SCS Capital Management LLC Acquires New Stake in Agios Pharmaceuticals, Inc. $AGIO

SCS Capital Management LLC bought a new position in shares of Agios Pharmaceuticals, Inc. (NASDAQ:AGIO) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 612,850 shares of the biopharmaceutical company’s stock, valued at approximately $22,743,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. GW&K Investment Management LLC lifted its position in shares of Agios Pharmaceuticals by 41.5% during the fourth quarter. GW&K Investment Management LLC now owns 1,207,301 shares of the biopharmaceutical company’s stock worth $32,863,000 after purchasing an additional 354,359 shares in the last quarter. State of New Jersey Common Pension Fund D acquired a new position in shares of Agios Pharmaceuticals in the fourth quarter valued at approximately $1,291,000. Sei Investments Co. grew its holdings in shares of Agios Pharmaceuticals by 342.8% in the first quarter. Sei Investments Co. now owns 63,550 shares of the biopharmaceutical company’s stock valued at $2,150,000 after purchasing an additional 49,198 shares in the last quarter. Seven Fleet Capital Management LP purchased a new stake in Agios Pharmaceuticals during the 4th quarter worth approximately $864,000. Finally, Erste Asset Management GmbH increased its stake in Agios Pharmaceuticals by 1.4% during the 4th quarter. Erste Asset Management GmbH now owns 2,804,900 shares of the biopharmaceutical company’s stock worth $76,343,000 after buying an additional 40,000 shares during the period.

Analyst Upgrades and Downgrades

Several equities analysts have commented on AGIO shares. Citigroup raised their price target on shares of Agios Pharmaceuticals from $46.00 to $52.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Truist Financial cut their price objective on Agios Pharmaceuticals from $41.00 to $39.00 and set a “buy” rating on the stock in a research report on Friday, July 31st. HC Wainwright increased their price objective on Agios Pharmaceuticals from $52.00 to $55.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Bank of America lifted their target price on Agios Pharmaceuticals from $40.00 to $46.00 and gave the company a “buy” rating in a report on Tuesday, July 7th. Finally, Royal Bank Of Canada boosted their target price on Agios Pharmaceuticals from $28.00 to $32.00 and gave the stock a “sector perform” rating in a research note on Tuesday, July 7th. Five 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, Agios Pharmaceuticals has an average rating of “Hold” and an average price target of $41.25.

Agios Pharmaceuticals Stock Up 0.3%

Shares of NASDAQ:AGIO opened at $33.56 on Friday. The firm’s 50 day moving average price is $35.29 and its 200 day moving average price is $31.21. The stock has a market cap of $2.00 billion, a price-to-earnings ratio of -4.79 and a beta of 0.58. Agios Pharmaceuticals, Inc. has a fifty-two week low of $22.24 and a fifty-two week high of $46.00.

Agios Pharmaceuticals (NASDAQ:AGIO) last issued its quarterly 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). Agios Pharmaceuticals had a negative return on equity of 35.67% and a negative net margin of 418.24%.The firm had revenue of $44.75 million during the quarter, compared to analysts’ expectations of $26.39 million. On average, equities analysts anticipate that Agios Pharmaceuticals, Inc. will post -5.87 EPS for the current year.

Insider Buying and Selling at Agios Pharmaceuticals

In other news, insider Sarah Gheuens sold 30,000 shares of the firm’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $30.48, for a total value of $914,400.00. Following the sale, the insider directly owned 54,645 shares in the company, valued at approximately $1,665,579.60. This trade represents a 35.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 5.40% of the company’s stock.

Agios Pharmaceuticals Profile

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.