Insider Selling: Agios Pharmaceuticals (NASDAQ:AGIO) CFO Sells 3,651 Shares of Stock

Key Points

• CFO Cecilia Jones of Agios Pharmaceuticals sold 3,651 shares at an average price of $36.77, totaling approximately $134,247, resulting in a 9.73% decrease in her ownership of the stock.
• Agios Pharmaceuticals' shares traded up 2.2%, reaching $40.14, and the company has a market cap of $2.33 billion with a P/E ratio of 3.65.
• Analysts maintain a consensus Buy rating for Agios Pharmaceuticals, with a target price averaging $56.00, despite the company recently missing EPS estimates.

Agios Pharmaceuticals, Inc. (NASDAQ:AGIO - Get Free Report) CFO Cecilia Jones sold 3,651 shares of the stock in a transaction that occurred on Friday, September 26th. The shares were sold at an average price of $36.77, for a total transaction of $134,247.27. Following the completion of the sale, the chief financial officer directly owned 33,870 shares in the company, valued at approximately $1,245,399.90. This represents a 9.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Agios Pharmaceuticals Trading Up 2.2%

Shares of NASDAQ AGIO traded up $0.87 during mid-day trading on Tuesday, reaching $40.14. The company had a trading volume of 535,744 shares, compared to its average volume of 715,155. The firm has a 50 day simple moving average of $37.42 and a two-hundred day simple moving average of $33.61. The stock has a market cap of $2.33 billion, a P/E ratio of 3.65 and a beta of 0.87. Agios Pharmaceuticals, Inc. has a 52-week low of $23.42 and a 52-week high of $62.58.

Agios Pharmaceuticals (NASDAQ:AGIO - Get Free Report) last posted its 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 company had revenue of $12.50 million during the quarter, compared to analysts' expectations of $9.46 million. Agios Pharmaceuticals had a net margin of 1,590.42% and a negative return on equity of 3.49%. On average, equities analysts expect that Agios Pharmaceuticals, Inc. will post -6.85 EPS for the current year.

Institutional Trading of Agios Pharmaceuticals

Several hedge funds have recently made changes to their positions in AGIO. TCG Crossover Management LLC acquired a new stake in shares of Agios Pharmaceuticals in the 2nd quarter worth $23,182,000. SCS Capital Management LLC acquired a new stake in shares of Agios Pharmaceuticals in the 1st quarter worth $17,905,000. Adage Capital Partners GP L.L.C. lifted its stake in shares of Agios Pharmaceuticals by 145.2% in the 1st quarter. Adage Capital Partners GP L.L.C. now owns 743,000 shares of the biopharmaceutical company's stock worth $21,770,000 after acquiring an additional 440,000 shares during the period. Palo Alto Investors LP acquired a new stake in shares of Agios Pharmaceuticals in the 1st quarter worth $8,104,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Agios Pharmaceuticals by 207.6% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 386,523 shares of the biopharmaceutical company's stock worth $11,325,000 after acquiring an additional 260,845 shares during the period.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. HC Wainwright reaffirmed a "buy" rating and issued a $56.00 target price on shares of Agios Pharmaceuticals in a research report on Thursday, September 4th. Scotiabank dropped their target price on shares of 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. Finally, Bank of America dropped their target price on shares of 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 equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $56.00.

Agios Pharmaceuticals Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.