Algert Global LLC Has $208,000 Stock Position in Sage Therapeutics, Inc. (NASDAQ:SAGE)

Algert Global LLC cut its position in shares of Sage Therapeutics, Inc. (NASDAQ:SAGE - Free Report) by 73.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 38,296 shares of the biopharmaceutical company's stock after selling 104,738 shares during the quarter. Algert Global LLC owned 0.06% of Sage Therapeutics worth $208,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. 683 Capital Management LLC lifted its position in shares of Sage Therapeutics by 5.0% in the fourth quarter. 683 Capital Management LLC now owns 630,000 shares of the biopharmaceutical company's stock worth $3,421,000 after purchasing an additional 30,000 shares in the last quarter. Caligan Partners LP purchased a new stake in shares of Sage Therapeutics in the fourth quarter worth approximately $16,575,000. Jane Street Group LLC lifted its position in shares of Sage Therapeutics by 103.1% in the fourth quarter. Jane Street Group LLC now owns 462,004 shares of the biopharmaceutical company's stock worth $2,509,000 after purchasing an additional 234,528 shares in the last quarter. PDT Partners LLC lifted its position in shares of Sage Therapeutics by 37.2% in the fourth quarter. PDT Partners LLC now owns 235,097 shares of the biopharmaceutical company's stock worth $1,277,000 after purchasing an additional 63,804 shares in the last quarter. Finally, AdvisorShares Investments LLC lifted its position in shares of Sage Therapeutics by 104.9% in the fourth quarter. AdvisorShares Investments LLC now owns 47,800 shares of the biopharmaceutical company's stock worth $260,000 after purchasing an additional 24,470 shares in the last quarter. 99.22% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on SAGE. StockNews.com downgraded Sage Therapeutics from a "hold" rating to a "sell" rating in a report on Monday. Canaccord Genuity Group dropped their price objective on Sage Therapeutics from $9.00 to $8.00 and set a "hold" rating on the stock in a report on Wednesday, February 12th. Wedbush restated a "neutral" rating and issued a $6.00 price objective on shares of Sage Therapeutics in a report on Wednesday, February 12th. Needham & Company LLC restated a "hold" rating on shares of Sage Therapeutics in a report on Friday, April 25th. Finally, Bank of America began coverage on Sage Therapeutics in a report on Tuesday, March 11th. They issued an "underperform" rating and a $5.00 price objective on the stock. Three equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $8.81.

Sage Therapeutics Stock Up 2.6%

SAGE stock traded up $0.18 during midday trading on Monday, hitting $7.07. 785,361 shares of the company traded hands, compared to its average volume of 1,216,485. Sage Therapeutics, Inc. has a twelve month low of $4.62 and a twelve month high of $13.47. The business has a 50 day simple moving average of $7.41 and a 200-day simple moving average of $6.72. The stock has a market capitalization of $442.73 million, a price-to-earnings ratio of -1.07 and a beta of 0.20.

Sage Therapeutics (NASDAQ:SAGE - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The biopharmaceutical company reported ($1.01) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.99) by ($0.02). The company had revenue of $14.06 million during the quarter, compared to analyst estimates of $14.12 million. Sage Therapeutics had a negative return on equity of 68.18% and a negative net margin of 971.50%. The company's revenue was up 78.0% on a year-over-year basis. During the same quarter in the previous year, the business posted ($1.80) EPS. Equities research analysts forecast that Sage Therapeutics, Inc. will post -3.52 EPS for the current year.

About Sage Therapeutics

Sage Therapeutics, Inc, a biopharmaceutical company, develops and commercializes brain health medicines. Its product candidates include ZULRESSO, a CIV injection for the treatment of postpartum depression (PPD) in adults; and ZURZUVAE, a neuroactive steroid, a positive allosteric modulator of GABAA receptors, targeting both synaptic and extrasynaptic GABAA receptors, for the treatment of postpartum depression.