Renaissance Technologies LLC Has $2.45 Million Stock Position in Sage Therapeutics, Inc. (NASDAQ:SAGE)

Renaissance Technologies LLC cut its holdings in shares of Sage Therapeutics, Inc. (NASDAQ:SAGE - Free Report) by 12.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 450,795 shares of the biopharmaceutical company's stock after selling 62,505 shares during the period. Renaissance Technologies LLC owned about 0.74% of Sage Therapeutics worth $2,448,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Invesco Ltd. increased its position in shares of Sage Therapeutics by 5.3% during the 4th quarter. Invesco Ltd. now owns 92,528 shares of the biopharmaceutical company's stock valued at $502,000 after purchasing an additional 4,629 shares during the last quarter. Federated Hermes Inc. lifted its position in Sage Therapeutics by 63.7% during the 4th quarter. Federated Hermes Inc. now owns 1,105,779 shares of the biopharmaceutical company's stock valued at $6,004,000 after acquiring an additional 430,432 shares during the period. Wells Fargo & Company MN grew its holdings in shares of Sage Therapeutics by 27.3% during the fourth quarter. Wells Fargo & Company MN now owns 33,051 shares of the biopharmaceutical company's stock valued at $179,000 after buying an additional 7,087 shares during the last quarter. ExodusPoint Capital Management LP bought a new position in Sage Therapeutics in the fourth quarter worth approximately $759,000. Finally, Geode Capital Management LLC grew its holdings in Sage Therapeutics by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 1,256,903 shares of the biopharmaceutical company's stock valued at $6,827,000 after buying an additional 14,049 shares in the last quarter. Institutional investors and hedge funds own 99.22% of the company's stock.

Analyst Ratings Changes

A number of brokerages have weighed in on SAGE. Piper Sandler decreased their target price on Sage Therapeutics from $26.00 to $9.00 and set an "overweight" rating for the company in a research report on Thursday, January 2nd. HC Wainwright restated a "neutral" rating and issued a $12.00 target price (down previously from $14.00) on shares of Sage Therapeutics in a research report on Wednesday, February 12th. Canaccord Genuity Group lowered their price target on shares of Sage Therapeutics from $9.00 to $8.00 and set a "hold" rating for the company in a report on Wednesday, February 12th. Scotiabank decreased their price objective on 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. Finally, Bank of America initiated coverage on shares of Sage Therapeutics in a research report on Tuesday, March 11th. They issued an "underperform" rating and a $5.00 price target on the stock. Three research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $8.81.

Sage Therapeutics Price Performance

Shares of SAGE stock traded up $0.13 during midday trading on Thursday, reaching $7.42. 304,158 shares of the company traded hands, compared to its average volume of 1,687,173. The firm has a market cap of $455.88 million, a PE ratio of -1.13 and a beta of 0.48. The firm's 50 day simple moving average is $7.54 and its two-hundred day simple moving average is $6.77. Sage Therapeutics, Inc. has a 1-year low of $4.62 and a 1-year high of $14.31.

Sage Therapeutics (NASDAQ:SAGE - Get Free Report) last posted its earnings results on Tuesday, April 29th. The biopharmaceutical company reported ($1.01) EPS 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 period last year, the company posted ($1.80) earnings per share. The firm's revenue for the quarter was up 78.0% compared to the same quarter last year. As a group, research analysts anticipate 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.