RTW Investments LP Reduces Stock Holdings in Sage Therapeutics, Inc. (NASDAQ:SAGE)

RTW Investments LP cut its stake in shares of Sage Therapeutics, Inc. (NASDAQ:SAGE - Free Report) by 46.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm 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 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in SAGE. US Bancorp DE grew its stake in Sage Therapeutics by 22.3% in the fourth quarter. US Bancorp DE now owns 12,430 shares of the biopharmaceutical company's stock valued at $67,000 after acquiring an additional 2,268 shares during the period. Teacher Retirement System of Texas increased its position in shares of Sage Therapeutics by 21.6% in the fourth quarter. Teacher Retirement System of Texas now owns 13,768 shares of the biopharmaceutical company's stock valued at $75,000 after acquiring an additional 2,446 shares during the last quarter. Picton Mahoney Asset Management boosted its holdings in shares of 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 buying an additional 3,581 shares during the last quarter. ProShare Advisors LLC increased its stake in shares of Sage Therapeutics by 31.2% during the 4th quarter. ProShare Advisors LLC now owns 18,281 shares of the biopharmaceutical company's stock worth $99,000 after purchasing an additional 4,350 shares during the last quarter. Finally, Invesco Ltd. raised its stake in Sage Therapeutics by 5.3% in the fourth quarter. Invesco Ltd. now owns 92,528 shares of the biopharmaceutical company's stock valued at $502,000 after buying an additional 4,629 shares during the period. Institutional investors and hedge funds own 99.22% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SAGE. Needham & Company LLC reissued a "hold" rating on shares of Sage Therapeutics in a research report on Friday, April 25th. Canaccord Genuity Group lowered their price objective on shares of Sage Therapeutics from $9.00 to $8.00 and set a "hold" rating for the company in a research report on Wednesday, February 12th. Wedbush restated a "neutral" rating and set a $6.00 price target on shares of Sage Therapeutics in a report on Wednesday, February 12th. Bank of America began coverage on Sage Therapeutics in a research report on Tuesday, March 11th. They set an "underperform" rating and a $5.00 target price for the company. Finally, StockNews.com lowered shares of Sage Therapeutics from a "hold" rating to a "sell" rating in a research note on Monday. Three research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Sage Therapeutics has a consensus rating of "Hold" and a consensus target price of $8.81.

Sage Therapeutics Trading Down 3.3%

Shares of SAGE traded down $0.24 during trading hours on Wednesday, reaching $6.89. 219,745 shares of the stock traded hands, compared to its average volume of 1,200,465. Sage Therapeutics, Inc. has a 52 week low of $4.62 and a 52 week high of $13.47. The company has a market cap of $431.71 million, a price-to-earnings ratio of -1.04 and a beta of 0.20. The stock has a fifty day simple moving average of $7.39 and a 200 day simple moving average of $6.72.

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). The business had revenue of $14.06 million during the quarter, compared to the consensus estimate 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 revenue was up 78.0% on a year-over-year basis. During the same period in the prior year, the company earned ($1.80) earnings per share. Analysts predict that Sage Therapeutics, Inc. will post -3.52 earnings per share for the current fiscal year.

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.