Man Group plc Purchases Shares of 124,466 Agios Pharmaceuticals, Inc. $AGIO

Man Group plc acquired a new position in Agios Pharmaceuticals, Inc. (NASDAQ:AGIO) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 124,466 shares of the biopharmaceutical company’s stock, valued at approximately $4,619,000.

Other large investors have also made changes to their positions in the company. BlackRock Inc. acquired a new stake in Agios Pharmaceuticals in the 2nd quarter valued at approximately $239,582,000. Wellington Management Group LLP increased its position in Agios Pharmaceuticals by 485.5% in the 3rd quarter. Wellington Management Group LLP now owns 2,471,416 shares of the biopharmaceutical company’s stock worth $99,203,000 after buying an additional 2,049,287 shares during the period. MPM Bioimpact LLC acquired a new position in Agios Pharmaceuticals during the 4th quarter valued at $35,478,000. ADAR1 Capital Management LLC acquired a new position in shares of Agios Pharmaceuticals during the second quarter valued at about $47,800,000. Finally, State Street Corp raised its holdings in Agios Pharmaceuticals by 37.4% in the 4th quarter. State Street Corp now owns 3,108,145 shares of the biopharmaceutical company’s stock valued at $84,604,000 after acquiring an additional 845,433 shares in the last quarter.

Agios Pharmaceuticals Price Performance

Shares of NASDAQ AGIO opened at $33.32 on Monday. Agios Pharmaceuticals, Inc. has a fifty-two week low of $22.24 and a fifty-two week high of $46.00. The firm has a market capitalization of $1.99 billion, a P/E ratio of -4.75 and a beta of 0.58. The company’s 50 day simple moving average is $35.90 and its 200 day simple moving average is $31.66.

Agios Pharmaceuticals (NASDAQ:AGIO) last released its earnings results on Thursday, July 30th. The biopharmaceutical company reported ($1.69) EPS for the quarter, missing analysts’ consensus estimates of ($1.65) by ($0.04). The business had revenue of $44.75 million for the quarter, compared to analyst estimates of $26.39 million. Agios Pharmaceuticals had a negative return on equity of 35.67% and a negative net margin of 418.24%. Sell-side analysts expect that Agios Pharmaceuticals, Inc. will post -5.82 EPS for the current fiscal year.

Insider Activity

In related news, insider Sarah Gheuens sold 30,000 shares of Agios Pharmaceuticals stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $30.48, for a total transaction of $914,400.00. Following the completion of the sale, the insider directly owned 54,645 shares of the company’s stock, valued at $1,665,579.60. The trade was a 35.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 5.40% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have commented on AGIO. Weiss Ratings restated a “sell (d)” rating on shares of Agios Pharmaceuticals in a research note on Wednesday, June 24th. Royal Bank Of Canada raised their price objective on shares of Agios Pharmaceuticals from $28.00 to $32.00 and gave the company a “sector perform” rating in a research report on Tuesday, July 7th. HC Wainwright raised their price target on shares of Agios Pharmaceuticals from $52.00 to $55.00 and gave the company a “buy” rating in a report on Thursday, July 30th. TD Cowen upgraded shares of Agios Pharmaceuticals to a “strong-buy” rating in a research report on Monday, August 24th. Finally, Truist Financial reduced their price objective on Agios Pharmaceuticals from $41.00 to $39.00 and set a “buy” rating on the stock in a report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus 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.