Adage Capital Partners GP L.L.C. Raises Stock Holdings in Agios Pharmaceuticals, Inc. $AGIO

Key Points

• Adage Capital Partners GP L.L.C. increased its stake in Agios Pharmaceuticals by 145.2%, holding 743,000 shares worth approximately $21.77 million by the end of Q1 2023.
• Other hedge funds like GAMMA Investing LLC and American Century Companies Inc. significantly raised their positions, with GAMMA's holdings increasing by 9,296.6% during the same timeframe.
• Agios Pharmaceuticals reported a quarterly loss of ($1.93) EPS, missing estimates, while also revealing revenue of $12.50 million, surpassing analyst expectations of $9.46 million.

Adage Capital Partners GP L.L.C. increased its holdings in shares of Agios Pharmaceuticals, Inc. (NASDAQ:AGIO - Free Report) by 145.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 743,000 shares of the biopharmaceutical company's stock after purchasing an additional 440,000 shares during the period. Adage Capital Partners GP L.L.C. owned approximately 1.28% of Agios Pharmaceuticals worth $21,770,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. grew its stake in Agios Pharmaceuticals by 16.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,582 shares of the biopharmaceutical company's stock valued at $105,000 after acquiring an additional 499 shares in the last quarter. CWM LLC lifted its stake in shares of Agios Pharmaceuticals by 150.2% in the 1st quarter. CWM LLC now owns 1,659 shares of the biopharmaceutical company's stock worth $49,000 after acquiring an additional 996 shares during the period. GF Fund Management CO. LTD. acquired a new position in Agios Pharmaceuticals during the fourth quarter worth about $39,000. Harbor Capital Advisors Inc. raised its position in shares of Agios Pharmaceuticals by 5.8% in the first quarter. Harbor Capital Advisors Inc. now owns 35,729 shares of the biopharmaceutical company's stock valued at $1,047,000 after buying an additional 1,962 shares during the last quarter. Finally, Victory Capital Management Inc. increased its position in Agios Pharmaceuticals by 28.8% during the first quarter. Victory Capital Management Inc. now owns 8,784 shares of the biopharmaceutical company's stock worth $257,000 after purchasing an additional 1,964 shares during the last quarter.

Analyst Ratings Changes

AGIO has been the subject of several analyst reports. Bank of America decreased their target price on shares of Agios Pharmaceuticals from $52.00 to $51.00 and set a "buy" rating for the company in a research note on Tuesday, July 22nd. Scotiabank decreased their target price on shares of Agios Pharmaceuticals from $71.00 to $65.00 and set a "sector outperform" rating for the company in a report on Monday, July 28th. Wall Street Zen cut shares of Agios Pharmaceuticals from a "hold" rating to a "sell" rating in a research note on Monday, May 19th. Finally, HC Wainwright reiterated a "buy" rating and set a $56.00 price target on shares of Agios Pharmaceuticals in a research note on Thursday, September 4th. Six equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, Agios Pharmaceuticals presently has a consensus rating of "Moderate Buy" and a consensus price target of $56.00.

Agios Pharmaceuticals Price Performance

Shares of Agios Pharmaceuticals stock traded down $0.87 during midday trading on Wednesday, reaching $35.29. The company had a trading volume of 73,958 shares, compared to its average volume of 719,092. Agios Pharmaceuticals, Inc. has a fifty-two week low of $23.42 and a fifty-two week high of $62.58. The stock has a fifty day moving average price of $37.68 and a 200 day moving average price of $33.23. The firm has a market cap of $2.05 billion, a PE ratio of 3.21 and a beta of 0.87.

Agios Pharmaceuticals (NASDAQ:AGIO - Get Free Report) last released its earnings results on Thursday, July 31st. The biopharmaceutical company reported ($1.93) earnings per share for the quarter, missing analysts' consensus estimates of ($1.74) by ($0.19). The firm had revenue of $12.50 million during the quarter, compared to the consensus estimate of $9.46 million. Agios Pharmaceuticals had a negative return on equity of 3.49% and a net margin of 1,590.42%. As a group, sell-side analysts forecast that Agios Pharmaceuticals, Inc. will post -6.85 EPS for the current year.

Insider Buying and Selling at Agios Pharmaceuticals

In related news, insider Sarah Gheuens sold 11,914 shares of the business's stock in a transaction that occurred on Wednesday, July 9th. The stock was sold at an average price of $37.99, for a total transaction of $452,612.86. Following the completion of the sale, the insider directly owned 61,271 shares in the company, valued at approximately $2,327,685.29. The trade was a 16.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Tsveta Milanova sold 2,770 shares of the firm's stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $33.54, for a total value of $92,905.80. Following the completion of the sale, the insider directly owned 26,122 shares of the company's stock, valued at $876,131.88. This trade represents a 9.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 65,994 shares of company stock valued at $2,341,232. 4.93% of the stock is owned by company insiders.

Agios Pharmaceuticals Company Profile

Agios Pharmaceuticals, Inc, a biopharmaceutical company, discovers and develops medicines in the field of cellular metabolism in the United States. Its lead product includes PYRUKYND (mitapivat), an activator of wild-type and mutant pyruvate kinase (PK), enzymes for the treatment of hemolytic anemias.