Summit Partners Public Asset Management LLC Makes New $4.52 Million Investment in Agios Pharmaceuticals, Inc. (NASDAQ:AGIO)

Summit Partners Public Asset Management LLC bought a new position in shares of Agios Pharmaceuticals, Inc. (NASDAQ:AGIO) during the third quarter, Holdings Channel reports. The institutional investor bought 101,730 shares of the biopharmaceutical company’s stock, valued at approximately $4,520,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Agios Pharmaceuticals by 6.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,132 shares of the biopharmaceutical company’s stock worth $539,000 after purchasing an additional 688 shares during the period. BNP Paribas Financial Markets raised its holdings in shares of Agios Pharmaceuticals by 15.1% during the third quarter. BNP Paribas Financial Markets now owns 11,946 shares of the biopharmaceutical company’s stock worth $531,000 after purchasing an additional 1,570 shares during the period. Quantbot Technologies LP acquired a new stake in shares of Agios Pharmaceuticals during the third quarter worth $146,000. FMR LLC raised its holdings in shares of Agios Pharmaceuticals by 283.2% during the third quarter. FMR LLC now owns 45,393 shares of the biopharmaceutical company’s stock worth $2,017,000 after purchasing an additional 33,546 shares during the period. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Agios Pharmaceuticals by 4.1% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 143,431 shares of the biopharmaceutical company’s stock worth $6,373,000 after acquiring an additional 5,587 shares during the period.

Insider Activity

In other news, CFO Cecilia Jones sold 2,542 shares of the firm’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $49.03, for a total transaction of $124,634.26. Following the completion of the transaction, the chief financial officer now owns 20,158 shares in the company, valued at approximately $988,346.74. This trade represents a 11.20 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 4.93% of the company’s stock.

Agios Pharmaceuticals Trading Down 0.7 %

NASDAQ:AGIO opened at $58.66 on Friday. Agios Pharmaceuticals, Inc. has a twelve month low of $20.96 and a twelve month high of $62.58. The company has a 50-day moving average of $48.19 and a 200-day moving average of $45.13. The firm has a market cap of $3.35 billion, a price-to-earnings ratio of 5.16 and a beta of 0.75.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on AGIO. Scotiabank increased their price objective on shares of Agios Pharmaceuticals from $51.00 to $53.00 and gave the stock a “sector outperform” rating in a report on Friday, November 1st. Raymond James reaffirmed an “outperform” rating and issued a $51.00 price objective on shares of Agios Pharmaceuticals in a report on Thursday, October 10th. Leerink Partners lowered shares of Agios Pharmaceuticals from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $60.00 to $56.00 in a research report on Friday, September 27th. Leerink Partnrs lowered shares of Agios Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 27th. Finally, StockNews.com upgraded shares of Agios Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, November 9th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $52.33.

Agios Pharmaceuticals Profile

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.