Sage Therapeutics, Inc. (NASDAQ:SAGE) Shares Sold by Squarepoint Ops LLC

Squarepoint Ops LLC cut its stake in Sage Therapeutics, Inc. (NASDAQ:SAGE - Free Report) by 83.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 23,134 shares of the biopharmaceutical company's stock after selling 118,802 shares during the period. Squarepoint Ops LLC's holdings in Sage Therapeutics were worth $126,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SAGE. Caligan Partners LP purchased a new stake in Sage Therapeutics during the 4th quarter worth about $16,575,000. Millennium Management LLC lifted its holdings in Sage Therapeutics by 8.3% during the 4th quarter. Millennium Management LLC now owns 1,623,785 shares of the biopharmaceutical company's stock worth $8,817,000 after buying an additional 124,720 shares during the last quarter. Boothbay Fund Management LLC purchased a new stake in Sage Therapeutics during the 4th quarter worth about $7,540,000. Geode Capital Management LLC increased its position in shares of Sage Therapeutics by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 1,256,903 shares of the biopharmaceutical company's stock worth $6,827,000 after purchasing an additional 14,049 shares in the last quarter. Finally, Federated Hermes Inc. increased its position in shares of Sage Therapeutics by 63.7% during the fourth quarter. Federated Hermes Inc. now owns 1,105,779 shares of the biopharmaceutical company's stock worth $6,004,000 after purchasing an additional 430,432 shares in the last quarter. 99.22% of the stock is currently owned by hedge funds and other institutional investors.

Sage Therapeutics Stock Up 1.5%

SAGE stock traded up $0.10 during trading on Friday, hitting $6.70. The company had a trading volume of 647,192 shares, compared to its average volume of 1,157,857. The firm has a 50-day moving average price of $6.97 and a 200-day moving average price of $6.85. Sage Therapeutics, Inc. has a 1-year low of $4.62 and a 1-year high of $13.47. The firm has a market cap of $419.56 million, a PE ratio of -1.02 and a beta of 0.18.

Sage Therapeutics (NASDAQ:SAGE - Get Free Report) last released its earnings results 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). Sage Therapeutics had a negative return on equity of 68.18% and a negative net margin of 971.50%. The business had revenue of $14.06 million for the quarter, compared to analyst estimates of $14.12 million. During the same quarter in the previous year, the firm posted ($1.80) EPS. The business's revenue for the quarter was up 78.0% on a year-over-year basis. Sell-side analysts anticipate that Sage Therapeutics, Inc. will post -3.52 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have recently commented on SAGE shares. Wall Street Zen cut Sage Therapeutics from a "hold" rating to a "sell" rating in a research report on Saturday, June 7th. Needham & Company LLC reiterated a "hold" rating on shares of Sage Therapeutics in a research report on Friday, April 25th. Finally, Bank of America started coverage on Sage Therapeutics in a research report on Tuesday, March 11th. They set an "underperform" rating and a $5.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $8.87.

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.