Agios Pharmaceuticals (NASDAQ:AGIO) Shares Pass Below 200-Day Moving Average – Here’s Why

Agios Pharmaceuticals, Inc. (NASDAQ:AGIO)’s share price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $32.19 and traded as low as $29.03. Agios Pharmaceuticals shares last traded at $29.61, with a volume of 821,013 shares traded.

Analyst Ratings Changes

AGIO has been the topic of a number of analyst reports. Bank of America increased their target price on Agios Pharmaceuticals from $32.00 to $34.00 and gave the company a “buy” rating in a report on Wednesday, December 24th. Leerink Partners boosted 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. Wall Street Zen upgraded Agios Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Sunday, March 22nd. Citigroup increased their price objective on Agios Pharmaceuticals from $38.00 to $46.00 and gave the company a “buy” rating in a research note on Thursday, March 5th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Agios Pharmaceuticals in a research report on Friday. Six research 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. Based on data from MarketBeat.com, Agios Pharmaceuticals currently has an average rating of “Hold” and an average price target of $40.67.

Agios Pharmaceuticals Trading Up 0.6%

The firm has a market capitalization of $1.73 billion, a PE ratio of -4.16 and a beta of 0.89. The firm has a 50-day moving average of $28.33 and a two-hundred day moving average of $32.19.

Insider Activity

In related news, insider Tsveta Milanova sold 2,872 shares of the firm’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $27.02, for a total value of $77,601.44. Following the transaction, the insider owned 34,793 shares in the company, valued at approximately $940,106.86. This trade represents a 7.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Krishnan Viswanadhan sold 2,959 shares of the firm’s stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $27.80, for a total transaction of $82,260.20. Following the completion of the transaction, the insider owned 5,141 shares in the company, valued at $142,919.80. The trade was a 36.53% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 4.93% of the company’s stock.

Institutional Investors Weigh In On Agios Pharmaceuticals

Several large investors have recently made changes to their positions in the business. Wellington Management Group LLP lifted its holdings in shares of Agios Pharmaceuticals by 485.5% during the 3rd quarter. Wellington Management Group LLP now owns 2,471,416 shares of the biopharmaceutical company’s stock valued at $99,203,000 after acquiring an additional 2,049,287 shares in the last quarter. MPM Bioimpact LLC purchased a new stake in Agios Pharmaceuticals during the 4th quarter worth $35,478,000. State Street Corp increased 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 purchasing an additional 845,433 shares in the last quarter. TCG Crossover Management LLC increased its holdings in Agios Pharmaceuticals by 105.2% in the 3rd quarter. TCG Crossover Management LLC now owns 1,430,041 shares of the biopharmaceutical company’s stock valued at $57,402,000 after purchasing an additional 733,038 shares in the last quarter. Finally, Capital International Investors purchased a new position in Agios Pharmaceuticals in the fourth quarter valued at about $19,159,000.

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.