RTW Investments LP Sells 2,589,330 Shares of Sage Therapeutics, Inc. (NASDAQ:SAGE)

RTW Investments LP cut its holdings in shares of Sage Therapeutics, Inc. (NASDAQ:SAGE - Free Report) by 46.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,002,370 shares of the biopharmaceutical company's stock after selling 2,589,330 shares during the period. RTW Investments LP owned approximately 4.91% of Sage Therapeutics worth $16,303,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Caligan Partners LP acquired a new position in Sage Therapeutics during the 4th quarter valued at about $16,575,000. Boothbay Fund Management LLC purchased a new position in shares of Sage Therapeutics during the fourth quarter valued at approximately $7,540,000. Federated Hermes Inc. boosted 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 valued at $6,004,000 after buying an additional 430,432 shares during the last quarter. Jane Street Group LLC grew its holdings in Sage Therapeutics by 103.1% during the fourth quarter. Jane Street Group LLC now owns 462,004 shares of the biopharmaceutical company's stock worth $2,509,000 after buying an additional 234,528 shares in the last quarter. Finally, Lazard Asset Management LLC purchased a new stake in Sage Therapeutics in the 4th quarter valued at $1,209,000. Institutional investors and hedge funds own 99.22% of the company's stock.

Sage Therapeutics Stock Up 2.6%

SAGE traded up $0.18 on Monday, hitting $7.07. The company's stock had a trading volume of 785,361 shares, compared to its average volume of 1,216,485. Sage Therapeutics, Inc. has a 12 month low of $4.62 and a 12 month high of $13.47. The firm has a market cap of $442.73 million, a P/E ratio of -1.07 and a beta of 0.20. The company's 50 day simple moving average is $7.41 and its 200-day simple moving average is $6.72.

Sage Therapeutics (NASDAQ:SAGE - Get Free Report) last posted 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 company had revenue of $14.06 million for the quarter, compared to analysts' expectations of $14.12 million. During the same quarter in the prior year, the company earned ($1.80) EPS. The company's revenue was up 78.0% on a year-over-year basis. Equities analysts predict that Sage Therapeutics, Inc. will post -3.52 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. StockNews.com raised shares of Sage Therapeutics from a "sell" rating to a "hold" rating in a report on Friday, May 2nd. Needham & Company LLC restated a "hold" rating on shares of Sage Therapeutics in a report on Friday, April 25th. Scotiabank cut their price target 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. 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 note on Wednesday, February 12th. Finally, Canaccord Genuity Group decreased their target price on Sage Therapeutics from $9.00 to $8.00 and set a "hold" rating for the company in a research report on Wednesday, February 12th. Two investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Sage Therapeutics presently has an average rating of "Hold" and a consensus price target of $8.81.

Sage Therapeutics Company 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.