Agios Pharmaceuticals, Inc. $AGIO Shares Sold by Pictet Asset Management Holding SA

Key Points

• Pictet Asset Management cut its stake in Agios by 24.7%, selling 67,142 shares in Q4 and now holding 205,019 shares (about 0.35% of the company) worth roughly $5.57 million.
• Agios beat quarterly EPS estimates (reported ($1.69) vs. consensus ($1.81)) and posted revenue of $20.75 million, up 137.7% year-over-year; the stock opened at $28.16 with a market cap around $1.67 billion.
• Analyst sentiment is mixed but cautious: the MarketBeat consensus is a "Hold" with a $41.56 target, based on six Buy, four Hold and one Sell ratings.

Pictet Asset Management Holding SA lessened its holdings in shares of Agios Pharmaceuticals, Inc. (NASDAQ:AGIO - Free Report) by 24.7% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 205,019 shares of the biopharmaceutical company's stock after selling 67,142 shares during the quarter. Pictet Asset Management Holding SA owned about 0.35% of Agios Pharmaceuticals worth $5,569,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Assetmark Inc. boosted its position in Agios Pharmaceuticals by 37.9% during the 4th quarter. Assetmark Inc. now owns 1,317 shares of the biopharmaceutical company's stock worth $36,000 after acquiring an additional 362 shares during the period. NewEdge Advisors LLC acquired a new position in Agios Pharmaceuticals during the 1st quarter worth $40,000. First Horizon Corp acquired a new position in Agios Pharmaceuticals during the 3rd quarter worth $45,000. Mirae Asset Global Investments Co. Ltd. boosted its position in Agios Pharmaceuticals by 26.2% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,834 shares of the biopharmaceutical company's stock worth $77,000 after acquiring an additional 588 shares during the period. Finally, Quantbot Technologies LP acquired a new position in Agios Pharmaceuticals during the 3rd quarter worth $79,000.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on AGIO shares. Bank of America reduced their price target on Agios Pharmaceuticals from $44.00 to $41.00 and set a "buy" rating for the company in a research report on Tuesday, April 21st. Wall Street Zen upgraded Agios Pharmaceuticals from a "sell" rating to a "hold" rating in a research report on Sunday, March 22nd. Weiss Ratings reissued a "sell (d)" rating on shares of Agios Pharmaceuticals in a research note on Friday, March 27th. Citigroup boosted their price objective on Agios Pharmaceuticals from $38.00 to $46.00 and gave the stock a "buy" rating in a research note on Thursday, March 5th. Finally, JPMorgan Chase & Co. boosted their price objective on Agios Pharmaceuticals from $31.00 to $36.00 and gave the stock a "neutral" rating in a research note on Monday, April 6th. Six analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Agios Pharmaceuticals currently has a consensus rating of "Hold" and a consensus target price of $41.56.

Agios Pharmaceuticals Stock Performance

AGIO opened at $28.16 on Monday. Agios Pharmaceuticals, Inc. has a one year low of $22.24 and a one year high of $46.00. The stock's fifty day moving average is $29.87 and its 200-day moving average is $30.90. The company has a market capitalization of $1.67 billion, a PE ratio of -3.88 and a beta of 0.58.

Agios Pharmaceuticals (NASDAQ:AGIO - Get Free Report) last posted its quarterly earnings data on Wednesday, April 29th. The biopharmaceutical company reported ($1.69) EPS for the quarter, topping analysts' consensus estimates of ($1.81) by $0.12. Agios Pharmaceuticals had a negative return on equity of 34.11% and a negative net margin of 639.84%.The company had revenue of $20.75 million for the quarter, compared to the consensus estimate of $13.30 million. The business's quarterly revenue was up 137.7% compared to the same quarter last year. On average, equities research analysts forecast that Agios Pharmaceuticals, Inc. will post -6.3 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Krishnan Viswanadhan sold 2,959 shares of the business's stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $27.80, for a total transaction of $82,260.20. Following the sale, the insider directly owned 5,141 shares of the company's stock, valued at $142,919.80. The trade was a 36.53% 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. Also, insider James William Burns sold 3,280 shares of the business's stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $34.71, for a total value of $113,848.80. Following the sale, the insider directly owned 49,306 shares in the company, valued at $1,711,411.26. This trade represents a 6.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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. In the last ninety days, insiders have sold 15,582 shares of company stock worth $520,405. 5.40% of the stock is owned by corporate insiders.

Agios Pharmaceuticals Company 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.

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.