Agios Pharmaceuticals (NASDAQ:AGIO) Share Price Crosses Below 200 Day Moving Average – Time to Sell?

Shares of Agios Pharmaceuticals, Inc. (NASDAQ:AGIO) passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $34.67 and traded as low as $27.60. Agios Pharmaceuticals shares last traded at $27.93, with a volume of 808,303 shares changing hands.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Leerink Partners lifted their price target on Agios Pharmaceuticals from $34.00 to $40.00 and gave the stock an “outperform” rating in a report on Friday, December 26th. Weiss Ratings reiterated a “sell (d)” rating on shares of Agios Pharmaceuticals in a research note on Monday, December 29th. Bank of America increased their price target on Agios Pharmaceuticals from $32.00 to $34.00 and gave the company a “buy” rating in a research note on Wednesday, December 24th. The Goldman Sachs Group cut their price target on Agios Pharmaceuticals from $40.00 to $25.00 and set a “neutral” rating for the company in a report on Thursday, November 20th. Finally, Truist Financial upped their price objective on shares of Agios Pharmaceuticals from $32.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, December 24th. Six analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $39.44.

Agios Pharmaceuticals Price Performance

The stock’s 50-day moving average price is $27.52 and its 200-day moving average price is $34.67. The company has a market cap of $1.63 billion, a P/E ratio of -3.99 and a beta of 0.91.

Insiders Place Their Bets

In related news, CFO Cecilia Jones sold 2,932 shares of the 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 owned 37,394 shares of the company’s stock, valued at $1,013,003.46. This represents a 7.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Brian Goff sold 18,703 shares of the company’s stock in a transaction on Tuesday, December 30th. The shares were sold at an average price of $27.09, for a total value of $506,664.27. Following the sale, the chief executive officer owned 136,583 shares of the company’s stock, valued at approximately $3,700,033.47. The trade was a 12.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 33,503 shares of company stock valued at $910,745 in the last quarter. Company insiders own 4.93% of the company’s stock.

Institutional Investors Weigh In On Agios Pharmaceuticals

A number of large investors have recently bought and sold shares of AGIO. Assetmark Inc. raised its position in shares of Agios Pharmaceuticals by 37.9% in the 4th quarter. Assetmark Inc. now owns 1,317 shares of the biopharmaceutical company’s stock valued at $36,000 after buying an additional 362 shares in the last quarter. NewEdge Advisors LLC bought a new position in Agios Pharmaceuticals in the first quarter valued at approximately $40,000. First Horizon Corp bought a new position in Agios Pharmaceuticals in the third quarter valued at approximately $45,000. Mirae Asset Global Investments Co. Ltd. raised its position in Agios Pharmaceuticals by 16.7% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,237 shares of the biopharmaceutical company’s stock valued at $74,000 after purchasing an additional 320 shares in the last quarter. Finally, Quantbot Technologies LP bought a new stake in Agios Pharmaceuticals during the third quarter worth $79,000.

About Agios Pharmaceuticals

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.