Bank of America Corp DE Sells 31,441 Shares of Agios Pharmaceuticals, Inc. $AGIO

Key Points

• Bank of America reduced its Agios Pharmaceuticals stake by 5.8% in the first quarter, selling 31,441 shares and retaining 507,900 shares valued at approximately $17.2 million.
• Agios shares opened at $33.63 after falling 4.2%; the company reported a quarterly loss of $1.69 per share, slightly worse than expectations, although revenue of $44.75 million exceeded estimates.
• Analyst sentiment remains mixed, with five Buy, four Hold, and one Sell rating; the stock has an average rating of Hold and an average price target of $41.25.

Bank of America Corp DE reduced its position in Agios Pharmaceuticals, Inc. (NASDAQ:AGIO - Free Report) by 5.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 507,900 shares of the biopharmaceutical company's stock after selling 31,441 shares during the quarter. Bank of America Corp DE owned approximately 0.85% of Agios Pharmaceuticals worth $17,182,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of AGIO. Sei Investments Co. increased its stake in Agios Pharmaceuticals by 342.8% in the 1st quarter. Sei Investments Co. now owns 63,550 shares of the biopharmaceutical company's stock worth $2,150,000 after buying an additional 49,198 shares in the last quarter. GW&K Investment Management LLC lifted its position in shares of Agios Pharmaceuticals by 41.5% in the fourth quarter. GW&K Investment Management LLC now owns 1,207,301 shares of the biopharmaceutical company's stock valued at $32,863,000 after acquiring an additional 354,359 shares in the last quarter. State of New Jersey Common Pension Fund D bought a new position in shares of Agios Pharmaceuticals in the fourth quarter worth about $1,291,000. Seven Fleet Capital Management LP bought a new position in shares of Agios Pharmaceuticals in the fourth quarter worth about $864,000. Finally, Erste Asset Management GmbH grew its position in shares of Agios Pharmaceuticals by 1.4% during the fourth quarter. Erste Asset Management GmbH now owns 2,804,900 shares of the biopharmaceutical company's stock worth $76,343,000 after purchasing an additional 40,000 shares in the last quarter.

Agios Pharmaceuticals Trading Down 4.2%

Shares of NASDAQ AGIO opened at $33.63 on Friday. Agios Pharmaceuticals, Inc. has a 12-month low of $22.24 and a 12-month high of $46.00. The firm's 50-day moving average price is $35.76 and its 200-day moving average price is $31.40. The stock has a market capitalization of $2.01 billion, a price-to-earnings ratio of -4.80 and a beta of 0.58.

Agios Pharmaceuticals (NASDAQ:AGIO - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The biopharmaceutical company reported ($1.69) EPS for the quarter, missing the consensus estimate of ($1.65) by ($0.04). The company had revenue of $44.75 million during the quarter, compared to analysts' expectations of $26.39 million. Agios Pharmaceuticals had a negative return on equity of 35.67% and a negative net margin of 418.24%. On average, equities analysts predict that Agios Pharmaceuticals, Inc. will post -5.85 EPS for the current fiscal year.

Insider Buying and Selling at Agios Pharmaceuticals

In other news, insider Sarah Gheuens sold 30,000 shares of the business's stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $30.48, for a total transaction of $914,400.00. Following the transaction, the insider owned 54,645 shares of the company's stock, valued at approximately $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 can be accessed through the SEC website. 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 Analyst Weigh In

Several research analysts have weighed in on AGIO shares. Weiss Ratings restated a "sell (d)" rating on shares of Agios Pharmaceuticals in a research note on Wednesday, June 24th. Citigroup raised their target price on shares of Agios Pharmaceuticals from $46.00 to $52.00 and gave the company a "buy" rating in a research note on Friday, July 31st. Royal Bank Of Canada increased their price objective on shares of Agios Pharmaceuticals from $28.00 to $32.00 and gave the company a "sector perform" rating in a report on Tuesday, July 7th. JPMorgan Chase & Co. raised their price objective on Agios Pharmaceuticals from $31.00 to $34.00 and gave the company a "neutral" rating in a research report on Friday, August 7th. Finally, HC Wainwright lifted their target price on Agios Pharmaceuticals from $52.00 to $55.00 and gave the stock a "buy" rating in a report on Thursday, July 30th. Five investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Agios Pharmaceuticals has an average 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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