612,850 Shares in Agios Pharmaceuticals, Inc. $AGIO Acquired by SCS Capital Management LLC

SCS Capital Management LLC acquired a new position in shares of Agios Pharmaceuticals, Inc. (NASDAQ:AGIO) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 612,850 shares of the biopharmaceutical company’s stock, valued at approximately $22,743,000. SCS Capital Management LLC owned about 1.03% of Agios Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in AGIO. T. Rowe Price Investment Management Inc. purchased a new position in shares of Agios Pharmaceuticals during the 4th quarter worth $25,000. Assetmark Inc. increased its position in Agios Pharmaceuticals by 37.9% during the fourth quarter. Assetmark Inc. now owns 1,317 shares of the biopharmaceutical company’s stock worth $36,000 after purchasing an additional 362 shares during the last quarter. NewEdge Advisors LLC acquired a new stake in Agios Pharmaceuticals during the first quarter worth about $40,000. Caitong International Asset Management Co. Ltd acquired a new stake in Agios Pharmaceuticals during the fourth quarter worth about $49,000. Finally, Quantbot Technologies LP purchased a new position in Agios Pharmaceuticals during the third quarter worth about $79,000.

Agios Pharmaceuticals Trading Up 0.3%

Shares of AGIO opened at $33.56 on Friday. The company’s 50-day moving average price is $35.29 and its 200 day moving average price is $31.21. Agios Pharmaceuticals, Inc. has a 12-month low of $22.24 and a 12-month high of $46.00. The firm has a market cap of $2.00 billion, a P/E ratio of -4.79 and a beta of 0.58.

Agios Pharmaceuticals (NASDAQ:AGIO) last announced its earnings results on Thursday, July 30th. The biopharmaceutical company reported ($1.69) earnings per share for the quarter, missing the consensus estimate of ($1.65) by ($0.04). Agios Pharmaceuticals had a negative return on equity of 35.67% and a negative net margin of 418.24%.The company had revenue of $44.75 million for the quarter, compared to analysts’ expectations of $26.39 million. Equities research analysts forecast that Agios Pharmaceuticals, Inc. will post -5.87 earnings per share for the current year.

Insider Activity at Agios Pharmaceuticals

In other news, insider Sarah Gheuens sold 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $30.48, for a total value of $914,400.00. Following the transaction, the insider directly owned 54,645 shares in the company, valued at approximately $1,665,579.60. This represents a 35.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 5.40% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on AGIO shares. Bank of America boosted their target price on shares of Agios Pharmaceuticals from $40.00 to $46.00 and gave the company a “buy” rating in a report on Tuesday, July 7th. Truist Financial cut their price target on shares of Agios Pharmaceuticals from $41.00 to $39.00 and set a “buy” rating for the company in a report on Friday, July 31st. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Agios Pharmaceuticals in a research report on Wednesday, June 24th. HC Wainwright upped their price objective on Agios Pharmaceuticals from $52.00 to $55.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Finally, Citigroup increased their price objective on Agios Pharmaceuticals from $46.00 to $52.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Five investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $41.25.

Agios Pharmaceuticals Company 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.