Foresite Capital Management VI LLC Invests $14.43 Million in Agios Pharmaceuticals, Inc. $AGIO

Key Points

• Foresite Capital Management VI LLC disclosed a new stake in Agios Pharmaceuticals, buying 530,000 shares worth about $14.43 million in the fourth quarter. The position represents 4.4% of Foresite’s portfolio and about 0.90% of Agios’s shares outstanding.
• Several other hedge funds also increased their holdings, including State Street, Wellington Management, and Bellevue Group, signaling continued institutional interest in AGIO.
• Agios reported quarterly results that beat expectations, with EPS of -$1.69 versus -$1.81 expected and revenue of $20.75 million, up 137.7% year over year. Despite the better-than-expected quarter, analysts currently rate the stock Hold on average, with a consensus price target of $40.89.

Foresite Capital Management VI LLC bought a new position in shares of Agios Pharmaceuticals, Inc. (NASDAQ:AGIO - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The fund bought 530,000 shares of the biopharmaceutical company's stock, valued at approximately $14,427,000. Agios Pharmaceuticals accounts for 4.4% of Foresite Capital Management VI LLC's investment portfolio, making the stock its 8th largest holding. Foresite Capital Management VI LLC owned about 0.90% of Agios Pharmaceuticals at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in AGIO. Bellevue Group AG raised its stake in Agios Pharmaceuticals by 3.5% in the 3rd quarter. Bellevue Group AG now owns 3,714,736 shares of the biopharmaceutical company's stock valued at $149,110,000 after acquiring an additional 124,586 shares during the period. State Street Corp raised its stake in Agios Pharmaceuticals by 37.4% in the 4th quarter. State Street Corp now owns 3,108,145 shares of the biopharmaceutical company's stock valued at $84,604,000 after acquiring an additional 845,433 shares during the period. Erste Asset Management GmbH raised its stake in Agios Pharmaceuticals by 1.4% in the 4th quarter. Erste Asset Management GmbH now owns 2,804,900 shares of the biopharmaceutical company's stock valued at $76,343,000 after acquiring an additional 40,000 shares during the period. Wellington Management Group LLP raised its stake in Agios Pharmaceuticals by 485.5% in the 3rd quarter. Wellington Management Group LLP now owns 2,471,416 shares of the biopharmaceutical company's stock valued at $99,203,000 after acquiring an additional 2,049,287 shares during the period. Finally, Commodore Capital LP raised its stake in Agios Pharmaceuticals by 0.6% in the 3rd quarter. Commodore Capital LP now owns 2,338,287 shares of the biopharmaceutical company's stock valued at $93,859,000 after acquiring an additional 13,287 shares during the period.

Insider Buying and Selling

In other Agios Pharmaceuticals news, insider James William Burns sold 3,280 shares of Agios Pharmaceuticals stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $34.71, for a total transaction of $113,848.80. Following the completion of the transaction, the insider owned 49,306 shares of the company's stock, valued at $1,711,411.26. The trade was a 6.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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. Also, insider Tsveta Milanova sold 3,262 shares of the business's stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $34.71, for a total value of $113,224.02. Following the transaction, the insider directly owned 46,829 shares of the company's stock, valued at $1,625,434.59. The trade was a 6.51% decrease in their position. 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. Insiders sold 12,623 shares of company stock worth $438,144 over the last quarter. 5.40% of the stock is owned by corporate insiders.

Agios Pharmaceuticals Stock Up 8.0%

AGIO stock opened at $31.82 on Tuesday. The firm has a market capitalization of $1.89 billion, a PE ratio of -4.39 and a beta of 0.59. Agios Pharmaceuticals, Inc. has a twelve month low of $22.24 and a twelve month high of $46.00. The stock has a 50-day simple moving average of $29.27 and a two-hundred day simple moving average of $28.53.

Agios Pharmaceuticals (NASDAQ:AGIO - Get Free Report) last posted its earnings results on Wednesday, April 29th. The biopharmaceutical company reported ($1.69) earnings per share for the quarter, beating analysts' consensus estimates of ($1.81) by $0.12. The business had revenue of $20.75 million during the quarter, compared to analyst estimates of $13.30 million. Agios Pharmaceuticals had a negative return on equity of 34.11% and a negative net margin of 639.84%.The company's revenue was up 137.7% compared to the same quarter last year. On average, equities research analysts anticipate that Agios Pharmaceuticals, Inc. will post -6.2 EPS for the current fiscal year.

Analyst Ratings Changes

AGIO has been the topic of a number of research reports. Bank of America lowered their price objective on Agios Pharmaceuticals from $41.00 to $40.00 and set a "buy" rating on the stock in a research note on Friday, May 29th. Weiss Ratings restated a "sell (d)" rating on shares of Agios Pharmaceuticals in a research note on Friday, March 27th. Wall Street Zen upgraded Agios Pharmaceuticals from a "sell" rating to a "hold" rating in a research note on Sunday, March 22nd. JPMorgan Chase & Co. lowered their price objective on Agios Pharmaceuticals from $36.00 to $31.00 and set a "neutral" rating on the stock in a research note on Thursday, June 11th. Finally, HC Wainwright lowered their price objective on Agios Pharmaceuticals from $65.00 to $50.00 and set a "buy" rating on the stock in a research note on Monday, April 20th. Six analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $40.89.

Agios Pharmaceuticals 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.

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