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

Foresite Capital Management VI LLC acquired a new position in shares of Agios Pharmaceuticals, Inc. (NASDAQ:AGIO) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 530,000 shares of the biopharmaceutical company’s stock, valued at approximately $14,427,000. Agios Pharmaceuticals makes up about 4.4% of Foresite Capital Management VI LLC’s investment portfolio, making the stock its 8th biggest position.

Other hedge funds and other institutional investors also recently modified their holdings of the company. SG Americas Securities LLC grew its holdings in shares of Agios Pharmaceuticals by 68.0% during the fourth quarter. SG Americas Securities LLC now owns 46,451 shares of the biopharmaceutical company’s stock worth $1,264,000 after purchasing an additional 18,801 shares in the last quarter. HighVista Strategies LLC grew its holdings in shares of Agios Pharmaceuticals by 178.5% during the third quarter. HighVista Strategies LLC now owns 195,298 shares of the biopharmaceutical company’s stock worth $7,839,000 after purchasing an additional 125,171 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in Agios Pharmaceuticals by 64.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 110,440 shares of the biopharmaceutical company’s stock worth $3,006,000 after buying an additional 43,287 shares in the last quarter. Erste Asset Management GmbH boosted its stake in Agios Pharmaceuticals by 18.8% in the third quarter. Erste Asset Management GmbH now owns 2,764,900 shares of the biopharmaceutical company’s stock worth $108,578,000 after buying an additional 438,411 shares in the last quarter. Finally, GW&K Investment Management LLC boosted its stake in Agios Pharmaceuticals by 41.5% in the fourth quarter. GW&K Investment Management LLC now owns 1,207,301 shares of the biopharmaceutical company’s stock worth $32,863,000 after buying an additional 354,359 shares in the last quarter.

Agios Pharmaceuticals Stock Performance

Shares of AGIO stock opened at $31.82 on Tuesday. Agios Pharmaceuticals, Inc. has a fifty-two week low of $22.24 and a fifty-two week high of $46.00. The stock has a 50 day moving average price of $29.27 and a two-hundred day moving average price of $28.53. The company has a market capitalization of $1.89 billion, a P/E ratio of -4.39 and a beta of 0.59.

Agios Pharmaceuticals (NASDAQ:AGIO) last announced its quarterly earnings data on Wednesday, April 29th. The biopharmaceutical company reported ($1.69) earnings per share for the quarter, beating the consensus estimate of ($1.81) by $0.12. Agios Pharmaceuticals had a negative return on equity of 34.11% and a negative net margin of 639.84%.The firm had revenue of $20.75 million during the quarter, compared to the consensus estimate of $13.30 million. The business’s revenue was up 137.7% compared to the same quarter last year. As a group, equities analysts predict that Agios Pharmaceuticals, Inc. will post -6.2 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have issued reports on AGIO shares. Citigroup upped their target price on Agios Pharmaceuticals from $38.00 to $46.00 and gave the stock a “buy” rating in a research note on Thursday, March 5th. Bank of America cut their target price on Agios Pharmaceuticals from $41.00 to $40.00 and set a “buy” rating for the company in a research note on Friday, May 29th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Agios Pharmaceuticals in a research note on Friday, March 27th. Truist Financial cut their target price on Agios Pharmaceuticals from $39.00 to $36.00 and set a “buy” rating for the company in a research note on Thursday, April 30th. Finally, The Goldman Sachs Group upped their target price on Agios Pharmaceuticals from $28.00 to $32.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 1st. Six research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $40.89.

Insider Buying and Selling

In related news, insider Tsveta Milanova sold 3,262 shares of the company’s stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of $34.71, for a total transaction of $113,224.02. Following the completion of the transaction, the insider owned 46,829 shares in the company, valued at $1,625,434.59. This represents a 6.51% decrease in their ownership of the stock. 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, CFO Cecilia Jones sold 3,141 shares of the company’s stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $34.71, for a total value of $109,024.11. Following the transaction, the chief financial officer owned 54,998 shares of the company’s stock, valued at approximately $1,908,980.58. This represents a 5.40% decrease in their position. The SEC filing for this sale provides additional information. 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. Over the last ninety days, insiders have sold 12,623 shares of company stock worth $438,144. Company insiders own 5.40% of the company’s stock.

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.