Assenagon Asset Management S.A. Has $3.86 Million Stock Holdings in Agios Pharmaceuticals, Inc. $AGIO

Key Points

• Assenagon Asset Management increased its Agios Pharmaceuticals stake by 54.8% in the second quarter, bringing its holdings to 103,955 shares valued at approximately $3.86 million.
• Agios reported a quarterly loss of $1.69 per share, slightly worse than analysts’ $1.65 estimate, though revenue of $44.75 million exceeded the $26.39 million consensus forecast. Analysts expect a full-year loss of $5.87 per share.
• Analyst sentiment remains mixed: five analysts rate AGIO a Buy, four a Hold and one a Sell, resulting in a consensus Hold rating and an average price target of $41.25, compared with a recent share price of $34.21.

Assenagon Asset Management S.A. lifted its stake in Agios Pharmaceuticals, Inc. (NASDAQ:AGIO - Free Report) by 54.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 103,955 shares of the biopharmaceutical company's stock after acquiring an additional 36,802 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.17% of Agios Pharmaceuticals worth $3,858,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. T. Rowe Price Investment Management Inc. acquired a new stake in shares of Agios Pharmaceuticals in the 4th quarter valued at approximately $25,000. Assetmark Inc. grew its stake in shares of Agios Pharmaceuticals by 37.9% in the fourth quarter. Assetmark Inc. now owns 1,317 shares of the biopharmaceutical company's stock valued at $36,000 after buying an additional 362 shares in the last quarter. NewEdge Advisors LLC bought a new position in shares of Agios Pharmaceuticals in the first quarter valued at $40,000. Caitong International Asset Management Co. Ltd acquired a new position in Agios Pharmaceuticals during the fourth quarter worth $49,000. Finally, Quantbot Technologies LP bought a new stake in Agios Pharmaceuticals during the third quarter worth $79,000.

Agios Pharmaceuticals Trading Up 4.6%

Shares of NASDAQ AGIO opened at $34.21 on Thursday. The firm has a market cap of $2.04 billion, a P/E ratio of -4.88 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. The business's 50 day moving average is $35.09 and its 200-day moving average is $31.16.

Agios Pharmaceuticals (NASDAQ:AGIO - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The biopharmaceutical company reported ($1.69) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.65) by ($0.04). The firm had revenue of $44.75 million during the quarter, compared to the consensus estimate of $26.39 million. Agios Pharmaceuticals had a negative net margin of 418.24% and a negative return on equity of 35.67%. Analysts forecast that Agios Pharmaceuticals, Inc. will post -5.87 EPS for the current year.

Insiders Place Their Bets

In other Agios Pharmaceuticals news, insider Sarah Gheuens sold 30,000 shares of the business's stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $30.48, for a total value of $914,400.00. Following the completion of the sale, the insider owned 54,645 shares of the company's stock, valued at $1,665,579.60. The trade was a 35.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 5.40% of the stock is owned by company insiders.

Analyst Ratings Changes

AGIO has been the subject of a number of analyst reports. Truist Financial decreased their price objective on shares of Agios Pharmaceuticals from $41.00 to $39.00 and set a "buy" rating for the company in a research report on Friday, July 31st. Bank of America raised their target price on shares of Agios Pharmaceuticals from $40.00 to $46.00 and gave the company a "buy" rating in a research note on Tuesday, July 7th. Weiss Ratings reiterated a "sell (d)" rating on shares of Agios Pharmaceuticals in a report on Wednesday, June 24th. HC Wainwright lifted their price target on Agios Pharmaceuticals from $52.00 to $55.00 and gave the stock a "buy" rating in a report on Thursday, July 30th. Finally, Royal Bank Of Canada boosted their price target on Agios Pharmaceuticals from $28.00 to $32.00 and gave the stock a "sector perform" rating in a research report on Tuesday, July 7th. Five research 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. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $41.25.

About Agios Pharmaceuticals

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.

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