Cutter Capital Management LP Sells 66,273 Shares of Agios Pharmaceuticals, Inc. $AGIO

Key Points

• Cutter Capital Management LP reduced its stake in Agios Pharmaceuticals by 22%, owning approximately $6.90 million worth of stock after selling 66,273 shares in the first quarter.
• In the latest quarter, several institutional investors, including Jefferies Financial Group and Adage Capital Partners, significantly increased their stakes in Agios Pharmaceuticals, indicating strong interest from the investment community.
• Agios Pharmaceuticals reported a quarterly loss of ($1.93) per share, missing analysts' expectations, but achieved a revenue of $12.50 million, surpassing estimates of $9.46 million.

Cutter Capital Management LP trimmed its position in shares of Agios Pharmaceuticals, Inc. (NASDAQ:AGIO - Free Report) by 22.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 235,350 shares of the biopharmaceutical company's stock after selling 66,273 shares during the period. Agios Pharmaceuticals comprises approximately 3.0% of Cutter Capital Management LP's portfolio, making the stock its 18th biggest holding. Cutter Capital Management LP owned about 0.41% of Agios Pharmaceuticals worth $6,896,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. GF Fund Management CO. LTD. acquired a new position in Agios Pharmaceuticals during the fourth quarter worth $39,000. CWM LLC increased its position 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 during the last quarter. PNC Financial Services Group Inc. increased its position 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 during the last quarter. GAMMA Investing LLC increased its position 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 during the last quarter. Finally, Commerce Bank acquired a new position in Agios Pharmaceuticals during the first quarter worth $240,000.

Agios Pharmaceuticals Price Performance

Shares of NASDAQ AGIO traded up $0.40 during mid-day trading on Monday, hitting $36.41. The company had a trading volume of 844,778 shares, compared to its average volume of 723,614. The business's 50-day simple moving average is $37.58 and its 200-day simple moving average is $33.20. Agios Pharmaceuticals, Inc. has a 12 month low of $23.42 and a 12 month high of $62.58. The firm has a market cap of $2.12 billion, a P/E ratio of 3.31 and a beta of 0.87.

Agios Pharmaceuticals (NASDAQ:AGIO - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The biopharmaceutical company reported ($1.93) EPS for the quarter, missing analysts' consensus estimates of ($1.74) by ($0.19). The business had revenue of $12.50 million for 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 predict that Agios Pharmaceuticals, Inc. will post -6.85 EPS for the current year.

Insider Buying and Selling

In other news, CFO Cecilia Jones sold 1,780 shares of Agios Pharmaceuticals 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 $59,701.20. Following the completion of the transaction, the chief financial officer owned 30,049 shares in the company, valued at approximately $1,007,843.46. The trade was a 5.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Brian Goff sold 18,700 shares of Agios Pharmaceuticals stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $33.54, for a total transaction of $627,198.00. Following the completion of the transaction, the chief executive officer owned 105,401 shares of the company's stock, valued at $3,535,149.54. This trade represents a 15.07% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 57,448 shares of company stock valued at $2,026,141 in the last ninety days. 4.93% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. HC Wainwright reaffirmed a "buy" rating and issued a $56.00 price target on shares of Agios Pharmaceuticals in a research report on Thursday. Scotiabank lowered their price target on Agios Pharmaceuticals from $71.00 to $65.00 and set a "sector outperform" rating on the stock in a research report on Monday, July 28th. Wall Street Zen downgraded Agios Pharmaceuticals from a "hold" rating to a "sell" rating in a research report on Monday, May 19th. Finally, Bank of America lowered their price target on Agios Pharmaceuticals from $52.00 to $51.00 and set a "buy" rating on the stock in a research report on Tuesday, July 22nd. Six analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $56.00.

About Agios Pharmaceuticals

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.