Voloridge Investment Management LLC Sells 234,954 Shares of Sage Therapeutics, Inc. (NASDAQ:SAGE)

Voloridge Investment Management LLC decreased its position in shares of Sage Therapeutics, Inc. (NASDAQ:SAGE - Free Report) by 72.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 87,981 shares of the biopharmaceutical company's stock after selling 234,954 shares during the quarter. Voloridge Investment Management LLC owned about 0.14% of Sage Therapeutics worth $478,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Picton Mahoney Asset Management grew its position in Sage Therapeutics by 126.0% in the 4th quarter. Picton Mahoney Asset Management now owns 6,423 shares of the biopharmaceutical company's stock valued at $35,000 after purchasing an additional 3,581 shares during the period. KLP Kapitalforvaltning AS acquired a new stake in Sage Therapeutics in the 4th quarter valued at $49,000. Ieq Capital LLC acquired a new stake in Sage Therapeutics in the 4th quarter valued at $57,000. US Bancorp DE grew its position in Sage Therapeutics by 22.3% in the 4th quarter. US Bancorp DE now owns 12,430 shares of the biopharmaceutical company's stock valued at $67,000 after purchasing an additional 2,268 shares during the period. Finally, Teacher Retirement System of Texas grew its position in Sage Therapeutics by 21.6% in the 4th 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 period. Institutional investors own 99.22% of the company's stock.

Sage Therapeutics Stock Down 1.4%

Sage Therapeutics stock traded down $0.09 during midday trading on Tuesday, reaching $6.53. The stock had a trading volume of 699,856 shares, compared to its average volume of 1,186,393. Sage Therapeutics, Inc. has a 12 month low of $4.62 and a 12 month high of $13.47. The firm's 50-day moving average price is $7.07 and its 200 day moving average price is $6.77. The firm has a market capitalization of $408.92 million, a PE ratio of -0.99 and a beta of 0.20.

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

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. HC Wainwright reaffirmed a "neutral" rating and set a $12.00 price objective (down from $14.00) on shares of Sage Therapeutics in a report on Wednesday, February 12th. Scotiabank cut their price objective on shares of Sage Therapeutics from $14.00 to $12.00 and set a "sector outperform" rating on the stock in a report on Wednesday, February 12th. Needham & Company LLC reaffirmed a "hold" rating on shares of Sage Therapeutics in a report on Friday, April 25th. Bank of America started coverage on shares of Sage Therapeutics in a report on Tuesday, March 11th. They set an "underperform" rating and a $5.00 price objective on the stock. Finally, Canaccord Genuity Group lowered their target price on Sage Therapeutics from $9.00 to $8.00 and set a "hold" rating on the stock in a research note on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Sage Therapeutics has an average rating of "Hold" and an average 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.