Armistice Capital LLC Sells 216,304 Shares of Agios Pharmaceuticals, Inc. $AGIO

Key Points

• Armistice Capital LLC has reduced its holdings in Agios Pharmaceuticals by 9.6% during the first quarter, now owning approximately 2,048,000 shares valued at around $60 million.
• Recent insider trading includes CEO Brian Goff selling 18,700 shares for $627,198, equating to a 15.07% decrease in ownership, while another insider sold 11,914 shares valued at approximately $452,613.
• Analysts have mixed sentiments towards Agios Pharmaceuticals, with Bank of America lowering its target price from $52 to $51, rating it a "buy", and other firms changing ratings from "hold" to "sell."

Armistice Capital LLC trimmed its position in shares of Agios Pharmaceuticals, Inc. (NASDAQ:AGIO - Free Report) by 9.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,048,000 shares of the biopharmaceutical company's stock after selling 216,304 shares during the quarter. Agios Pharmaceuticals makes up 0.9% of Armistice Capital LLC's holdings, making the stock its 12th biggest holding. Armistice Capital LLC owned approximately 3.54% of Agios Pharmaceuticals worth $60,006,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AGIO. GF Fund Management CO. LTD. acquired a new position in shares of Agios Pharmaceuticals in the fourth quarter worth approximately $39,000. CWM LLC grew its holdings in Agios Pharmaceuticals by 150.2% during the first quarter. CWM LLC now owns 1,659 shares of the biopharmaceutical company's stock worth $49,000 after buying an additional 996 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in Agios Pharmaceuticals by 16.2% during the first quarter. PNC Financial Services Group Inc. now owns 3,582 shares of the biopharmaceutical company's stock worth $105,000 after buying an additional 499 shares in the last quarter. GAMMA Investing LLC grew its holdings in Agios Pharmaceuticals by 9,296.6% during the first quarter. GAMMA Investing LLC now owns 8,175 shares of the biopharmaceutical company's stock worth $240,000 after buying an additional 8,088 shares in the last quarter. Finally, Commerce Bank bought a new position in Agios Pharmaceuticals in the 1st quarter valued at $240,000.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Wall Street Zen downgraded Agios Pharmaceuticals from a "hold" rating to a "sell" rating in a research note on Monday, May 19th. Scotiabank lowered their price target on shares of Agios Pharmaceuticals from $71.00 to $65.00 and set a "sector outperform" rating on the stock in a report on Monday, July 28th. Finally, Bank of America decreased their price objective on Agios Pharmaceuticals from $52.00 to $51.00 and set a "buy" rating on the stock in a report on Tuesday, July 22nd. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $56.33.

Agios Pharmaceuticals Price Performance

NASDAQ:AGIO traded up $1.36 during mid-day trading on Wednesday, reaching $40.61. The company's stock had a trading volume of 777,329 shares, compared to its average volume of 569,585. The firm's fifty day moving average price is $37.33 and its two-hundred day moving average price is $33.12. Agios Pharmaceuticals, Inc. has a 12-month low of $23.42 and a 12-month high of $62.58.

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 the consensus estimate of ($1.74) by ($0.19). The company had revenue of $12.50 million for the quarter, compared to analysts' expectations of $9.46 million. Agios Pharmaceuticals had a net margin of 1,590.42% and a negative return on equity of 3.49%. On average, analysts expect that Agios Pharmaceuticals, Inc. will post -6.85 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Cecilia Jones sold 1,780 shares of the stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $33.54, for a total transaction of $59,701.20. Following the completion of the transaction, the chief financial officer directly owned 30,049 shares in the company, valued at approximately $1,007,843.46. This represents a 5.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Brian Goff sold 18,700 shares of the firm's stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $33.54, for a total value of $627,198.00. Following the completion of the sale, the chief executive officer directly owned 105,401 shares of the company's stock, valued at $3,535,149.54. The trade was a 15.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 57,448 shares of company stock worth $2,026,141 over the last ninety days. 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.