Erste Asset Management GmbH Acquires 438,411 Shares of Agios Pharmaceuticals, Inc. $AGIO

Erste Asset Management GmbH increased its holdings in Agios Pharmaceuticals, Inc. (NASDAQ:AGIO) by 18.8% during the third quarter, Holdings Channel.com reports. The firm owned 2,764,900 shares of the biopharmaceutical company’s stock after acquiring an additional 438,411 shares during the quarter. Agios Pharmaceuticals accounts for 1.0% of Erste Asset Management GmbH’s investment portfolio, making the stock its 18th largest holding. Erste Asset Management GmbH’s holdings in Agios Pharmaceuticals were worth $108,578,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in AGIO. NewEdge Advisors LLC bought a new position in shares of Agios Pharmaceuticals during the first quarter valued at about $40,000. First Horizon Corp purchased a new stake in Agios Pharmaceuticals during the 3rd quarter valued at about $45,000. Acadian Asset Management LLC purchased a new stake in Agios Pharmaceuticals during the 1st quarter valued at about $133,000. PNC Financial Services Group Inc. grew its position in Agios Pharmaceuticals by 23.4% during the 2nd quarter. PNC Financial Services Group Inc. now owns 4,419 shares of the biopharmaceutical company’s stock worth $147,000 after acquiring an additional 837 shares during the last quarter. Finally, CWM LLC increased its stake in Agios Pharmaceuticals by 218.6% in the 2nd quarter. CWM LLC now owns 5,286 shares of the biopharmaceutical company’s stock worth $176,000 after purchasing an additional 3,627 shares during the period.

Insider Buying and Selling

In related news, CFO Cecilia Jones sold 2,932 shares of Agios Pharmaceuticals stock in a transaction that occurred on Tuesday, December 30th. The stock was sold at an average price of $27.09, for a total transaction of $79,427.88. Following the sale, the chief financial officer directly owned 37,394 shares in the company, valued at $1,013,003.46. The trade was a 7.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider James William Burns sold 2,932 shares of the company’s stock in a transaction on Tuesday, December 30th. The stock was sold at an average price of $27.09, for a total value of $79,427.88. Following the completion of the sale, the insider directly owned 31,718 shares in the company, valued at approximately $859,240.62. The trade was a 8.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 33,303 shares of company stock worth $901,977 over the last quarter. Company insiders own 4.30% of the company’s stock.

Agios Pharmaceuticals Price Performance

Shares of AGIO opened at $29.98 on Friday. The company has a 50-day simple moving average of $27.83 and a two-hundred day simple moving average of $33.59. The firm has a market capitalization of $1.76 billion, a PE ratio of -4.22 and a beta of 0.91. Agios Pharmaceuticals, Inc. has a one year low of $22.24 and a one year high of $46.00.

Analyst Upgrades and Downgrades

AGIO has been the subject of a number of analyst reports. The Goldman Sachs Group dropped their price objective on Agios Pharmaceuticals from $40.00 to $25.00 and set a “neutral” rating for the company in a research note on Thursday, November 20th. Leerink Partners upped their price objective on shares of Agios Pharmaceuticals from $34.00 to $40.00 and gave the company an “outperform” rating in a research note on Friday, December 26th. Royal Bank Of Canada lowered shares of Agios Pharmaceuticals from an “outperform” rating to a “sector perform” rating and dropped their target price for the stock from $57.00 to $28.00 in a report on Wednesday, November 19th. Weiss Ratings restated a “sell (d)” rating on shares of Agios Pharmaceuticals in a report on Monday, December 29th. Finally, Truist Financial increased their price objective on Agios Pharmaceuticals from $32.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, December 24th. Six equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $39.78.

Agios Pharmaceuticals 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.