On February 17, 2026, Rock Springs Capital Management LP disclosed in an SEC filing that it sold 159,379 shares of Agios Pharmaceuticals (AGIO 1.57%) in the fourth quarter, an estimated $5.59 million transaction based on quarterly average pricing.
What happened
According to its SEC filing dated February 17, 2026, Rock Springs Capital Management sold 159,379 shares of Agios Pharmaceuticals in the fourth quarter. The estimated transaction value was $5.59 million, based on the average closing price for the quarter. The fund’s quarter-end position in Agios was valued at $21.75 million, down $16.72 million from the prior period, a figure reflecting both trading and market price changes.
What else to know
- Rock Springs’ Agios stake now equals 1.12% of reported AUM, following the reduction in position.
- Top holdings after the filing:
- NYSE: LLY: $113.27 million (5.8% of AUM)
- NASDAQ: RVMD: $106.35 million (5.5% of AUM)
- NASDAQ: ARGX: $86.83 million (4.5% of AUM)
- NASDAQ: TVTX: $84.46 million (4.3% of AUM)
- NASDAQ: MDGL: $81.31 million (4.2% of AUM)
- As of February 16, 2026, Agios shares were priced at $27.96, down 16.0% over the past year and trailing the S&P 500 by 27.8 percentage points.
- The position was previously 2.2% of the fund’s AUM as of the prior quarter.
Company overview
| Metric | Value |
|---|---|
| Price (as of market close 2/13/26) | $27.96 |
| Market capitalization | $1.63 billion |
| Revenue (TTM) | $54.03 million |
| Net income (TTM) | ($412.78 million) |
Company snapshot
- Agios Pharmaceuticals develops and commercializes therapies targeting cellular metabolism, including its lead product PYRUKYND (mitapivat) for hemolytic anemias and pipeline candidate AG-946 in Phase I clinical trials.
- The company focuses on research and product development efforts for rare genetic diseases and hematologic disorders.
- Agios targets patients with rare blood disorders, with a primary focus on healthcare providers, specialty clinics, and institutions treating hemolytic anemias.
Agios Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company specializing in the discovery and development of therapies for rare genetic diseases in the field of cellular metabolism. With a focused pipeline and a marketed product addressing hemolytic anemias, Agios leverages scientific expertise to address unmet medical needs. The company’s strategy centers on advancing innovative treatments for underserved patient populations, supporting its competitive position within the biotechnology sector.
What this transaction means for investors
Biotech portfolios live and die by clinical catalysts, and Agios just reminded investors how brutal that math can be. In November, shares were cut in half after the Phase 3 RISE UP trial of mitapivat met its hemoglobin endpoint but missed on reducing sickle cell pain crises. The stock never fully recovered, and by mid-February it was down 16% over the past year.
Against that backdrop, the fund exited part of its position, reducing Agios from 2.2% of assets to 1.12%. What we do not know is whether those shares were sold before or after the November 19 plunge. We only know the quarter ended with fewer shares.
For long-term investors, the question is less about the trade and more about probability. In late December, the U.S. Food and Drug Administration approved AQVESME for the treatment of anemia in adults (the medicine is now available in the U.S.), and the company already commercializes PYRUKYND for hemolytic anemias. Ultimately, this remains a pipeline-driven story in a portfolio otherwise anchored by large-cap biotech leaders like Eli Lilly and Argenx.
