Vanguard Group Inc. Sells 922,280 Shares of Sage Therapeutics, Inc. (NASDAQ:SAGE)

Vanguard Group Inc. lowered its holdings in Sage Therapeutics, Inc. (NASDAQ:SAGE - Free Report) by 16.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,838,169 shares of the biopharmaceutical company's stock after selling 922,280 shares during the period. Vanguard Group Inc. owned about 7.91% of Sage Therapeutics worth $26,271,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. US Bancorp DE lifted its holdings in Sage Therapeutics by 22.3% during 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 last quarter. Teacher Retirement System of Texas raised 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 purchasing an additional 2,446 shares during the period. Picton Mahoney Asset Management lifted its stake in shares of Sage Therapeutics by 126.0% during the 4th quarter. Picton Mahoney Asset Management now owns 6,423 shares of the biopharmaceutical company's stock worth $35,000 after buying an additional 3,581 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Sage Therapeutics by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,242,854 shares of the biopharmaceutical company's stock worth $8,975,000 after buying an additional 3,757 shares during the period. Finally, SG Americas Securities LLC grew its stake in 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 buying an additional 8,228 shares during the last quarter. Institutional investors and hedge funds own 99.22% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on SAGE shares. Bank of America initiated coverage on Sage Therapeutics in a research report on Tuesday, March 11th. They issued an "underperform" rating and a $5.00 target price on the stock. Scotiabank lowered their price objective on Sage Therapeutics from $14.00 to $12.00 and set a "sector outperform" rating on the stock in a research report on Wednesday, February 12th. HC Wainwright reissued 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. Needham & Company LLC reaffirmed a "hold" rating on shares of Sage Therapeutics in a research report on Wednesday, February 12th. Finally, Canaccord Genuity Group dropped 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 note on Wednesday, February 12th. Three research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $8.81.

Sage Therapeutics Stock Up 0.8 %

Shares of SAGE stock traded up $0.06 during trading hours on Friday, reaching $7.43. The company's stock had a trading volume of 616,535 shares, compared to its average volume of 1,229,573. Sage Therapeutics, Inc. has a fifty-two week low of $4.62 and a fifty-two week high of $14.97. The firm's 50 day simple moving average is $7.47 and its 200-day simple moving average is $6.72. The company has a market capitalization of $456.80 million, a price-to-earnings ratio of -1.13 and a beta of 0.48.

Sage Therapeutics (NASDAQ:SAGE - Get Free Report) last released its quarterly earnings data on Tuesday, February 11th. The biopharmaceutical company reported ($1.56) earnings per share for the quarter, missing the consensus estimate of ($1.54) by ($0.02). Sage Therapeutics had a negative net margin of 971.50% and a negative return on equity of 68.18%. Sell-side analysts predict that Sage Therapeutics, Inc. will post -3.52 earnings per share for the current year.

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.