Agios Pharmaceuticals (NASDAQ:AGIO) Shares Gap Down – Here’s What Happened

Shares of Agios Pharmaceuticals, Inc. (NASDAQ:AGIO) gapped down prior to trading on Monday . The stock had previously closed at $61.64, but opened at $56.11. Agios Pharmaceuticals shares last traded at $52.00, with a volume of 346,945 shares changing hands.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on AGIO shares. Leerink Partners lowered shares of Agios Pharmaceuticals from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $60.00 to $56.00 in a research report on Friday, September 27th. StockNews.com upgraded shares of Agios Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, November 9th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Agios Pharmaceuticals in a research report on Friday, September 20th. Royal Bank of Canada increased their price target on shares of Agios Pharmaceuticals from $55.00 to $57.00 and gave the company an “outperform” rating in a research report on Tuesday. Finally, Raymond James reiterated an “outperform” rating and issued a $51.00 price target on shares of Agios Pharmaceuticals in a research report on Thursday, October 10th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $56.33.

Agios Pharmaceuticals Price Performance

The stock’s 50-day moving average is $50.09 and its 200-day moving average is $46.68. The stock has a market cap of $2.62 billion, a price-to-earnings ratio of 4.05 and a beta of 0.80.

Insider Buying and Selling

In other Agios Pharmaceuticals news, CFO Cecilia Jones sold 2,542 shares of the stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $49.03, for a total transaction of $124,634.26. Following the transaction, the chief financial officer now owns 20,158 shares of the company’s stock, valued at $988,346.74. This trade represents a 11.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 4.93% of the stock is owned by company insiders.

Hedge Funds Weigh In On Agios Pharmaceuticals

Large investors have recently bought and sold shares of the stock. D. E. Shaw & Co. Inc. raised its stake in Agios Pharmaceuticals by 87.3% during the second quarter. D. E. Shaw & Co. Inc. now owns 678,234 shares of the biopharmaceutical company’s stock worth $29,245,000 after purchasing an additional 316,100 shares during the period. Vestal Point Capital LP purchased a new position in shares of Agios Pharmaceuticals in the 3rd quarter valued at $33,767,000. Seven Eight Capital LP purchased a new position in shares of Agios Pharmaceuticals in the 2nd quarter valued at $1,693,000. Edgestream Partners L.P. purchased a new position in shares of Agios Pharmaceuticals in the 2nd quarter valued at $1,814,000. Finally, Farallon Capital Management LLC raised its stake in shares of Agios Pharmaceuticals by 1.1% in the 2nd quarter. Farallon Capital Management LLC now owns 5,654,502 shares of the biopharmaceutical company’s stock valued at $243,822,000 after acquiring an additional 63,900 shares during the period.

About Agios Pharmaceuticals

Agios Pharmaceuticals, Inc, a biopharmaceutical company, discovers and develops medicines in the field of cellular metabolism in the United States. Its lead product includes PYRUKYND (mitapivat), an activator of wild-type and mutant pyruvate kinase (PK), enzymes for the treatment of hemolytic anemias.