1,288,053 Shares in Agios Pharmaceuticals, Inc. $AGIO Purchased by ADAR1 Capital Management LLC

Key Points

• ADAR1 Capital Management acquired 1.29 million Agios Pharmaceuticals shares worth approximately $47.8 million, making the position 2.2% of its portfolio and representing about 2.16% of Agios’ outstanding stock.
• Analyst sentiment remains generally positive: Agios has an average “Moderate Buy” rating and a consensus price target of $41.25, although ratings range from “Strong Buy” to “Sell.”
• Agios reported quarterly revenue of $44.75 million, above the $26.39 million analyst estimate, but its adjusted loss of $1.69 per share was slightly worse than expected; the company continues to post significant negative margins.

ADAR1 Capital Management LLC purchased a new position in Agios Pharmaceuticals, Inc. (NASDAQ:AGIO - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 1,288,053 shares of the biopharmaceutical company's stock, valued at approximately $47,800,000. Agios Pharmaceuticals accounts for 2.2% of ADAR1 Capital Management LLC's holdings, making the stock its 7th largest position. ADAR1 Capital Management LLC owned approximately 2.16% of Agios Pharmaceuticals as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. T. Rowe Price Investment Management Inc. bought a new stake in Agios Pharmaceuticals in the 4th quarter valued at $25,000. NewEdge Advisors LLC bought a new position in shares of Agios Pharmaceuticals during the 1st quarter worth about $40,000. Quantbot Technologies LP bought a new position in shares of Agios Pharmaceuticals during the 2nd quarter worth about $43,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Agios Pharmaceuticals during the 4th quarter worth about $49,000. Finally, Eurizon Capital SGR S.p.A. acquired a new position in shares of Agios Pharmaceuticals during the fourth quarter valued at about $72,000.

Insider Activity at Agios Pharmaceuticals

In other news, insider Sarah Gheuens sold 30,000 shares of the business'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 owned 54,645 shares in the company, valued at approximately $1,665,579.60. The trade was a 35.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 5.40% of the company's stock.

Wall Street Analysts Forecast Growth

AGIO has been the topic of a number of recent research reports. Weiss Ratings reissued a "sell (d)" rating on shares of Agios Pharmaceuticals in a research report on Wednesday, June 24th. TD Cowen raised Agios Pharmaceuticals to a "strong-buy" rating in a report on Monday. HC Wainwright raised their price objective on Agios Pharmaceuticals from $52.00 to $55.00 and gave the stock a "buy" rating in a research report on Thursday, July 30th. Bank of America lifted their price objective on Agios Pharmaceuticals from $40.00 to $46.00 and gave the stock a "buy" rating in a report on Tuesday, July 7th. Finally, Truist Financial lowered 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. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $41.25.

Agios Pharmaceuticals Trading Up 3.9%

NASDAQ AGIO opened at $33.90 on Wednesday. The stock's 50 day moving average is $35.89 and its two-hundred day moving average is $31.51. The company has a market capitalization of $2.02 billion, a price-to-earnings ratio of -4.84 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.

Agios Pharmaceuticals (NASDAQ:AGIO - Get Free Report) last issued 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). Agios Pharmaceuticals had a negative return on equity of 35.67% and a negative net margin of 418.24%.The company had revenue of $44.75 million during the quarter, compared to analyst estimates of $26.39 million. On average, analysts predict that Agios Pharmaceuticals, Inc. will post -5.8 earnings per share for the current year.

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.

Want to see what other hedge funds are holding AGIO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Agios Pharmaceuticals, Inc. (NASDAQ:AGIO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source