Seven Fleet Capital Management LP Invests $864,000 in Agios Pharmaceuticals, Inc. $AGIO

Key Points

• Seven Fleet Capital Management disclosed a new stake in Agios Pharmaceuticals, buying 31,738 shares worth about $864,000 in the fourth quarter. The position makes AGIO its 29th-largest holding and roughly 0.7% of its portfolio.
• Agios Pharmaceuticals reported quarterly results that beat analyst expectations, posting EPS of ($1.69) versus the expected ($1.81) and revenue of $20.75 million, well above estimates. Revenue also rose 137.7% year over year.
• Despite the earnings beat, the stock has mixed analyst sentiment: the average rating is Hold with a consensus price target of $40.89. Several analysts recently adjusted targets, while insiders also sold shares under pre-arranged trading plans.

Seven Fleet Capital Management LP acquired a new stake in shares of Agios Pharmaceuticals, Inc. (NASDAQ:AGIO - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 31,738 shares of the biopharmaceutical company's stock, valued at approximately $864,000. Agios Pharmaceuticals comprises 0.7% of Seven Fleet Capital Management LP's holdings, making the stock its 29th biggest holding. Seven Fleet Capital Management LP owned about 0.05% of Agios Pharmaceuticals at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its holdings in Agios Pharmaceuticals by 485.5% in the third quarter. Wellington Management Group LLP now owns 2,471,416 shares of the biopharmaceutical company's stock worth $99,203,000 after purchasing an additional 2,049,287 shares during the last quarter. MPM Bioimpact LLC bought a new stake in Agios Pharmaceuticals during the fourth quarter valued at approximately $35,478,000. State Street Corp grew its position in Agios Pharmaceuticals by 37.4% during the fourth quarter. State Street Corp now owns 3,108,145 shares of the biopharmaceutical company's stock valued at $84,604,000 after buying an additional 845,433 shares during the period. TCG Crossover Management LLC increased its holdings in Agios Pharmaceuticals by 105.2% during the third quarter. TCG Crossover Management LLC now owns 1,430,041 shares of the biopharmaceutical company's stock valued at $57,402,000 after buying an additional 733,038 shares during the last quarter. Finally, Capital International Investors purchased a new stake in Agios Pharmaceuticals during the fourth quarter valued at approximately $19,159,000.

Agios Pharmaceuticals Trading Up 3.3%

NASDAQ AGIO opened at $34.16 on Friday. Agios Pharmaceuticals, Inc. has a 12-month low of $22.24 and a 12-month high of $46.00. The firm has a market capitalization of $2.03 billion, a P/E ratio of -4.71 and a beta of 0.59. The firm's fifty day simple moving average is $29.15 and its two-hundred day simple moving average is $28.61.

Agios Pharmaceuticals (NASDAQ:AGIO - Get Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The biopharmaceutical company reported ($1.69) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.81) by $0.12. The company had revenue of $20.75 million during the quarter, compared to analyst estimates of $13.30 million. Agios Pharmaceuticals had a negative net margin of 639.84% and a negative return on equity of 34.11%. The firm's quarterly revenue was up 137.7% compared to the same quarter last year. As a group, sell-side analysts predict that Agios Pharmaceuticals, Inc. will post -6.28 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Agios Pharmaceuticals news, CFO Cecilia Jones sold 3,141 shares of the firm's stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $34.71, for a total value of $109,024.11. Following the completion of the sale, the chief financial officer directly owned 54,998 shares of the company's stock, valued at $1,908,980.58. This trade represents a 5.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 Agios Pharmaceuticals stock in a transaction on 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 owned 46,829 shares in the company, valued at approximately $1,625,434.59. This represents a 6.51% decrease in their position. The disclosure for this sale is available in the SEC filing. 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 have sold 12,623 shares of company stock valued at $438,144 over the last quarter. Insiders own 5.40% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. The Goldman Sachs Group upped their price target on shares of Agios Pharmaceuticals from $28.00 to $32.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 1st. Bank of America reduced 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. Truist Financial decreased their target price on shares of Agios Pharmaceuticals from $39.00 to $36.00 and set a "buy" rating on the stock in a research report on Thursday, April 30th. JPMorgan Chase & Co. dropped their price target on Agios Pharmaceuticals from $36.00 to $31.00 and set a "neutral" rating for the company in a research report on Thursday, June 11th. Finally, Wall Street Zen raised Agios Pharmaceuticals from a "sell" rating to a "hold" rating in a research note on Sunday, March 22nd. Six investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $40.89.

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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