Seven Eight Capital LP Makes New Investment in Agios Pharmaceuticals, Inc. (NASDAQ:AGIO)

Seven Eight Capital LP bought a new stake in Agios Pharmaceuticals, Inc. (NASDAQ:AGIO) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 39,262 shares of the biopharmaceutical company’s stock, valued at approximately $1,693,000. Seven Eight Capital LP owned about 0.07% of Agios Pharmaceuticals as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in AGIO. Charles Schwab Investment Management Inc. lifted its position in Agios Pharmaceuticals by 1.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 456,394 shares of the biopharmaceutical company’s stock worth $10,164,000 after acquiring an additional 4,699 shares during the period. BNP Paribas Financial Markets raised its stake in shares of Agios Pharmaceuticals by 111.5% during the fourth quarter. BNP Paribas Financial Markets now owns 125,309 shares of the biopharmaceutical company’s stock worth $2,791,000 after purchasing an additional 66,070 shares during the last quarter. Jump Financial LLC acquired a new stake in shares of Agios Pharmaceuticals during the fourth quarter worth $362,000. Dimensional Fund Advisors LP grew its position in Agios Pharmaceuticals by 5.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,596,764 shares of the biopharmaceutical company’s stock valued at $57,832,000 after buying an additional 137,873 shares during the last quarter. Finally, Norges Bank acquired a new position in Agios Pharmaceuticals in the 4th quarter valued at $6,826,000.

Agios Pharmaceuticals Trading Down 0.3 %

Shares of AGIO opened at $45.54 on Thursday. Agios Pharmaceuticals, Inc. has a twelve month low of $19.80 and a twelve month high of $50.35. The firm has a market capitalization of $2.59 billion, a P/E ratio of -7.21 and a beta of 0.75. The firm’s 50-day moving average is $45.59 and its two-hundred day moving average is $38.93.

Agios Pharmaceuticals (NASDAQ:AGIO) last announced its quarterly earnings results on Thursday, August 1st. The biopharmaceutical company reported ($1.69) EPS for the quarter, missing the consensus estimate of ($1.60) by ($0.09). Agios Pharmaceuticals had a negative return on equity of 47.05% and a negative net margin of 1,165.69%. The firm had revenue of $8.60 million for the quarter, compared to analysts’ expectations of $9.34 million. During the same period last year, the firm earned ($1.51) EPS. Agios Pharmaceuticals’s revenue was up 28.4% compared to the same quarter last year. Analysts predict that Agios Pharmaceuticals, Inc. will post -4.85 EPS for the current year.

Analyst Ratings Changes

Several brokerages have recently weighed in on AGIO. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $46.00 target price on shares of Agios Pharmaceuticals in a report on Thursday, June 13th. The Goldman Sachs Group lifted their price objective on Agios Pharmaceuticals from $33.00 to $53.00 and gave the company a “neutral” rating in a report on Tuesday, June 4th. Cantor Fitzgerald reissued an “overweight” rating on shares of Agios Pharmaceuticals in a research note on Monday, June 17th. Royal Bank of Canada raised their price target on Agios Pharmaceuticals from $53.00 to $55.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Finally, StockNews.com lowered Agios Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Monday, August 5th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $51.33.

Insiders Place Their Bets

In other news, CEO Brian Goff sold 11,091 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $42.75, for a total value of $474,140.25. Following the completion of the transaction, the chief executive officer now owns 78,792 shares in the company, valued at $3,368,358. The sale was disclosed in a document filed with the SEC, which is available at this link. 4.93% of the stock is owned by company insiders.

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.