Agios Pharmaceuticals, Inc. (NASDAQ:AGIO) Stock Price Down 7.6% After Insider Selling
Shares of Agios Pharmaceuticals, Inc. (NASDAQ:AGIO) traded down 7.6% during trading on Monday following insider selling activity. The stock traded as low as $52.79 and last traded at $54.70, with a volume of 1,121,808 shares. The stock had previously closed at $59.18.
Specifically, Director Lewis Clayton Jr. Cantley sold 2,036 shares of Agios Pharmaceuticals stock in a transaction that occurred on Thursday, May 25th. The stock was sold at an average price of $47.10, for a total transaction of $95,895.60. Following the transaction, the director now owns 91,206 shares of the company’s stock, valued at $4,295,802.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Celgene European Investment Co purchased 624,575 shares of the company’s stock in a transaction that occurred on Monday, April 24th. The shares were acquired at an average price of $49.50 per share, for a total transaction of $30,916,462.50. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 26,600 shares of company stock worth $1,394,718. 10.55% of the stock is owned by insiders.
A number of analysts recently commented on AGIO shares. Oppenheimer Holdings, Inc. set a $75.00 price target on Agios Pharmaceuticals and gave the stock a “buy” rating in a report on Thursday, June 1st. Cann restated a “buy” rating and issued a $75.00 target price on shares of Agios Pharmaceuticals in a research note on Wednesday, April 19th. Zacks Investment Research lowered Agios Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Tuesday, April 18th. BidaskClub upgraded Agios Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Thursday. Finally, Janney Montgomery Scott lowered Agios Pharmaceuticals from a “buy” rating to a “neutral” rating in a research note on Monday, June 26th. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $62.88.
The company has a 50-day moving average of $51.10 and a 200-day moving average of $49.19. The firm’s market capitalization is $2.79 billion.
Agios Pharmaceuticals (NASDAQ:AGIO) last posted its quarterly earnings results on Thursday, May 4th. The biopharmaceutical company reported ($1.56) EPS for the quarter, beating the Zacks’ consensus estimate of ($1.80) by $0.24. The business had revenue of $10.51 million for the quarter, compared to analysts’ expectations of $9.65 million. Agios Pharmaceuticals had a negative return on equity of 71.20% and a negative net margin of 491.54%. The business’s quarterly revenue was down 66.4% on a year-over-year basis. During the same period last year, the firm earned ($0.64) earnings per share. On average, equities analysts predict that Agios Pharmaceuticals, Inc. will post ($6.44) EPS for the current year.
Large investors have recently bought and sold shares of the stock. State Street Corp boosted its stake in Agios Pharmaceuticals by 13.8% in the fourth quarter. State Street Corp now owns 1,240,585 shares of the biopharmaceutical company’s stock worth $51,772,000 after buying an additional 150,244 shares in the last quarter. Norges Bank acquired a new stake in Agios Pharmaceuticals during the fourth quarter worth approximately $8,246,000. Teachers Advisors LLC boosted its stake in Agios Pharmaceuticals by 22.7% in the fourth quarter. Teachers Advisors LLC now owns 29,592 shares of the biopharmaceutical company’s stock worth $1,235,000 after buying an additional 5,467 shares in the last quarter. Opus Point Partners Management LLC boosted its stake in Agios Pharmaceuticals by 1.5% in the fourth quarter. Opus Point Partners Management LLC now owns 55,524 shares of the biopharmaceutical company’s stock worth $2,317,000 after buying an additional 832 shares in the last quarter. Finally, Creative Planning boosted its stake in Agios Pharmaceuticals by 10.2% in the first quarter. Creative Planning now owns 16,482 shares of the biopharmaceutical company’s stock worth $963,000 after buying an additional 1,528 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.
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About Agios Pharmaceuticals
Agios Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company. The Company’s therapeutic areas of focus are cancer and rare genetic metabolic disorders, which are a group of over 600 rare genetic diseases caused by mutations, or defects, of single metabolic genes. The Company’s cancer product candidates are enasidenib and ivosidenib (AG-120), which target mutated isocitrate dehydrogenase 2 (IDH2) and isocitrate dehydrogenase 1 (IDH1), respectively, and AG-881, which targets both mutated IDH1 and mutated IDH2.
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