In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Agios Pharmaceuticals Inc. (NASDAQ:AGIO) reported that Blackrock Inc. has picked up 227 of common stock as of 2017-05-09.
The acquisition brings the aggregate amount owned by Blackrock Inc. to a total of 227 representing less than 4.8% stake in the company.
For those not familiar with the company, Agios Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company. The Company’s therapeutic areas of focus are cancer and rare genetic metabolic disorders, which are a group of over 600 rare genetic diseases caused by mutations, or defects, of single metabolic genes. The Company’s cancer product candidates are enasidenib and ivosidenib (AG-120), which target mutated isocitrate dehydrogenase 2 (IDH2) and isocitrate dehydrogenase 1 (IDH1), respectively, and AG-881, which targets both mutated IDH1 and mutated IDH2. These mutations are found in a range of hematological malignancies and solid tumors. The lead product candidate in its rare genetic metabolic disorder (RGD), programs, AG-348, targets pyruvate kinase-R for the treatment of pyruvate kinase deficiency. Pyruvate kinase deficiency is a rare disorder that often results in severe hemolytic anemia due to inherited mutations in the pyruvate kinase enzyme within red blood cells.
A glance at Agios Pharmaceuticals Inc. (NASDAQ:AGIO)’s key stats reveals a current market capitalization of 2.34 Billion based on 48.20 Million shares outstanding and a price at last close of $49.28 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2017-04-24, Celgene picked up 624,575 at a purchase price of $49.50. This brings their total holding to 1,856,353 as of the date of the filing.
On the sell side, the most recent transaction saw Kolstad unload 2,800 shares at a sale price of $18.90. This brings their total holding to 0.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Agios Pharmaceuticals Inc. (NASDAQ:AGIO) as things move forward to see if its progress aligns with these transactions.
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