Cwm LLC Acquires 58,410 Shares of Sage Therapeutics, Inc. (NASDAQ:SAGE)

CWM LLC boosted its stake in Sage Therapeutics, Inc. (NASDAQ:SAGE - Free Report) by 1,943.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 61,416 shares of the biopharmaceutical company's stock after purchasing an additional 58,410 shares during the period. CWM LLC owned about 0.10% of Sage Therapeutics worth $488,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SAGE. Charles Schwab Investment Management Inc. lifted its position in Sage Therapeutics by 2.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 462,309 shares of the biopharmaceutical company's stock valued at $2,510,000 after purchasing an additional 10,116 shares during the last quarter. Thrivent Financial for Lutherans lifted its position in Sage Therapeutics by 108.7% in the fourth quarter. Thrivent Financial for Lutherans now owns 74,625 shares of the biopharmaceutical company's stock valued at $405,000 after purchasing an additional 38,876 shares during the last quarter. Teacher Retirement System of Texas lifted its position in Sage Therapeutics by 21.6% in the fourth quarter. Teacher Retirement System of Texas now owns 13,768 shares of the biopharmaceutical company's stock valued at $75,000 after purchasing an additional 2,446 shares during the last quarter. KLP Kapitalforvaltning AS bought a new stake in Sage Therapeutics in the fourth quarter valued at approximately $49,000. Finally, Fox Run Management L.L.C. increased its stake in shares of Sage Therapeutics by 199.0% during the fourth quarter. Fox Run Management L.L.C. now owns 48,950 shares of the biopharmaceutical company's stock valued at $266,000 after buying an additional 32,579 shares during the period. Institutional investors own 99.22% of the company's stock.

Analyst Ratings Changes

Several research firms have recently issued reports on SAGE. Needham & Company LLC reissued a "hold" rating on shares of Sage Therapeutics in a research note on Monday, June 16th. Canaccord Genuity Group boosted their target price on Sage Therapeutics from $8.00 to $8.50 and gave the company a "hold" rating in a research note on Tuesday, June 17th. HC Wainwright reissued a "neutral" rating and set a $12.00 target price on shares of Sage Therapeutics in a research note on Tuesday, June 17th. Piper Sandler cut Sage Therapeutics from a "strong-buy" rating to a "hold" rating and reduced their target price for the company from $9.00 to $8.50 in a research note on Tuesday, June 17th. Finally, Truist Financial set a $9.00 target price on Sage Therapeutics and gave the company a "hold" rating in a research note on Tuesday, June 17th. Two analysts have rated the stock with a sell rating and fourteen have assigned a hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $8.02.

Sage Therapeutics Stock Down 0.2%

Shares of NASDAQ SAGE traded down $0.02 during trading on Monday, reaching $8.78. The company had a trading volume of 4,344,948 shares, compared to its average volume of 2,302,061. Sage Therapeutics, Inc. has a 12-month low of $4.62 and a 12-month high of $11.44. The stock has a market cap of $549.80 million, a PE ratio of -1.51 and a beta of 0.29. The business's 50-day moving average is $8.18 and its 200 day moving average is $7.63.

Sage Therapeutics (NASDAQ:SAGE - Get Free Report) last released its earnings results on Tuesday, April 29th. The biopharmaceutical company reported ($1.01) EPS for the quarter, missing analysts' consensus estimates of ($0.99) by ($0.02). Sage Therapeutics had a negative return on equity of 68.99% and a negative net margin of 747.63%. The company had revenue of $14.06 million during the quarter, compared to analysts' expectations of $14.12 million. During the same period in the prior year, the company posted ($1.80) earnings per share. The company's revenue was up 78.0% on a year-over-year basis. On average, analysts anticipate that Sage Therapeutics, Inc. will post -3.52 earnings per share 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.