Baker Avenue Asset Management LP reduced its stake in shares of SAGE Therapeutics Inc (NASDAQ:SAGE) by 30.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,100 shares of the biopharmaceutical company’s stock after selling 900 shares during the quarter. Baker Avenue Asset Management LP’s holdings in SAGE Therapeutics were worth $384,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of SAGE. Icon Wealth Partners LLC acquired a new position in SAGE Therapeutics during the first quarter worth approximately $31,000. Cornerstone Advisors Inc. increased its position in shares of SAGE Therapeutics by 28.3% in the first quarter. Cornerstone Advisors Inc. now owns 308 shares of the biopharmaceutical company’s stock worth $49,000 after acquiring an additional 68 shares in the last quarter. Manchester Capital Management LLC acquired a new stake in shares of SAGE Therapeutics in the first quarter worth $58,000. Tobam acquired a new stake in shares of SAGE Therapeutics in the second quarter worth $92,000. Finally, Tower Research Capital LLC TRC acquired a new stake in shares of SAGE Therapeutics in the second quarter worth $111,000.
NASDAQ:SAGE traded up $4.58 during mid-day trading on Friday, hitting $140.55. The stock had a trading volume of 380,690 shares, compared to its average volume of 374,770. The stock has a market capitalization of $7.09 billion, a price-to-earnings ratio of -17.39 and a beta of 2.54. The company has a current ratio of 16.00, a quick ratio of 16.00 and a debt-to-equity ratio of 0.03. The company has a 50 day simple moving average of $155.87 and a 200-day simple moving average of $167.27. SAGE Therapeutics Inc has a 52 week low of $79.88 and a 52 week high of $193.56.
A number of research firms recently weighed in on SAGE. Oppenheimer lowered their price target on shares of SAGE Therapeutics from $200.00 to $190.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. ValuEngine lowered shares of SAGE Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 2nd. JPMorgan Chase & Co. reiterated a “buy” rating on shares of SAGE Therapeutics in a research note on Wednesday, July 24th. BidaskClub downgraded shares of SAGE Therapeutics from a “hold” rating to a “sell” rating in a research note on Friday, September 27th. Finally, William Blair reiterated a “buy” rating on shares of SAGE Therapeutics in a research note on Wednesday, July 24th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and thirteen have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $200.27.
In related news, Director James M. Frates sold 8,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $160.58, for a total transaction of $1,284,640.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 4.60% of the company’s stock.
SAGE Therapeutics Profile
Sage Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops and commercializes novel medicines to treat central nervous system (CNS) disorders. Its lead product candidate is ZULRESSO, a proprietary intravenous formulation of brexanolone that has completed Phase III clinical trials for the treatment of postpartum depression (PPD).
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