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% during the fourth quarter, according to its most recent 13F filing 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 quarter. Squarepoint Ops LLC's holdings in Sage Therapeutics were worth $126,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SAGE. SG Americas Securities LLC raised its position in shares of Sage Therapeutics by 57.7% in the 4th quarter. SG Americas Securities LLC now owns 22,498 shares of the biopharmaceutical company's stock valued at $122,000 after purchasing an additional 8,228 shares during the last quarter. Empowered Funds LLC acquired a new position in shares of Sage Therapeutics in the 4th quarter valued at about $91,000. Ieq Capital LLC acquired a new position in Sage Therapeutics in the fourth quarter valued at approximately $57,000. US Bancorp DE boosted its holdings in Sage Therapeutics by 22.3% during the fourth quarter. US Bancorp DE now owns 12,430 shares of the biopharmaceutical company's stock worth $67,000 after buying an additional 2,268 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Sage Therapeutics by 2.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 462,309 shares of the biopharmaceutical company's stock valued at $2,510,000 after acquiring an additional 10,116 shares during the period. Hedge funds and other institutional investors own 99.22% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on SAGE shares. Bank of America started coverage on shares of Sage Therapeutics in a report on Tuesday, March 11th. They issued an "underperform" rating and a $5.00 price target for the company. Wall Street Zen cut Sage Therapeutics from a "hold" rating to a "sell" rating in a report on Saturday, June 7th. Scotiabank dropped their price target on shares of Sage Therapeutics from $14.00 to $12.00 and set a "sector outperform" rating for the company in a research report on Wednesday, February 12th. Wedbush restated a "neutral" rating and set a $6.00 target price on shares of Sage Therapeutics in a report on Wednesday, February 12th. Finally, Canaccord Genuity Group dropped their price target on shares of Sage Therapeutics from $9.00 to $8.00 and set a "hold" rating for the company in a research note on Wednesday, February 12th. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Sage Therapeutics currently has a consensus rating of "Hold" and a consensus target price of $8.87.

Sage Therapeutics Price Performance

Shares of SAGE traded down $0.12 during midday trading on Thursday, reaching $6.65. 196,112 shares of the stock were exchanged, compared to its average volume of 1,453,968. The business's 50-day moving average price is $6.96 and its 200 day moving average price is $6.84. The company has a market capitalization of $416.43 million, a price-to-earnings ratio of -1.01 and a beta of 0.18. Sage Therapeutics, Inc. has a twelve month low of $4.62 and a twelve month high of $13.47.

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

Sage Therapeutics Profile

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.