Mutual of America Capital Management LLC Decreases Position in Sage Therapeutics, Inc. (NASDAQ:SAGE)

Mutual of America Capital Management LLC lessened its holdings in Sage Therapeutics, Inc. (NASDAQ:SAGE – Get Rating) by 4.2% during the first quarter, Holdings Channel.com reports. The firm owned 22,746 shares of the biopharmaceutical company’s stock after selling 987 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Sage Therapeutics were worth $753,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC purchased a new position in Sage Therapeutics in the 1st quarter worth $28,000. Oppenheimer & Co. Inc. purchased a new position in Sage Therapeutics in the 4th quarter worth $213,000. BNP Paribas Arbitrage SA raised its position in Sage Therapeutics by 15.0% in the 4th quarter. BNP Paribas Arbitrage SA now owns 5,570 shares of the biopharmaceutical company’s stock worth $237,000 after purchasing an additional 725 shares during the period. Advisor Group Holdings Inc. raised its position in Sage Therapeutics by 175.7% in the 4th quarter. Advisor Group Holdings Inc. now owns 6,974 shares of the biopharmaceutical company’s stock worth $296,000 after purchasing an additional 4,444 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in Sage Therapeutics by 21.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,595 shares of the biopharmaceutical company’s stock worth $323,000 after purchasing an additional 1,320 shares during the period. Hedge funds and other institutional investors own 84.40% of the company’s stock.

Sage Therapeutics Price Performance

Shares of NASDAQ SAGE opened at $34.41 on Friday. Sage Therapeutics, Inc. has a 1 year low of $27.36 and a 1 year high of $47.75. The stock has a market cap of $2.03 billion, a P/E ratio of -4.18 and a beta of 1.46. The firm has a 50-day moving average of $34.22 and a 200 day moving average of $35.06.

Sage Therapeutics (NASDAQ:SAGE – Get Rating) last issued its quarterly earnings results on Tuesday, May 3rd. The biopharmaceutical company reported ($2.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.09) by $0.02. Sage Therapeutics had a negative net margin of 7,676.91% and a negative return on equity of 27.23%. The company had revenue of $1.58 million during the quarter, compared to analysts’ expectations of $3.23 million. During the same period last year, the company posted ($1.64) EPS. Sage Therapeutics’s revenue was down .1% on a year-over-year basis. Research analysts expect that Sage Therapeutics, Inc. will post -8.76 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Citigroup raised their price target on shares of Sage Therapeutics to $41.00 in a report on Friday, June 3rd. StockNews.com lowered shares of Sage Therapeutics from a “hold” rating to a “sell” rating in a report on Tuesday, July 19th. Mizuho cut their price target on shares of Sage Therapeutics from $41.00 to $37.00 in a report on Wednesday, May 4th. The Goldman Sachs Group cut their price target on shares of Sage Therapeutics from $85.00 to $73.00 and set a “buy” rating on the stock in a report on Tuesday, May 24th. Finally, SVB Leerink cut their price target on shares of Sage Therapeutics from $50.00 to $40.00 and set a “market perform” rating on the stock in a report on Monday, July 11th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $55.80.

Insider Activity at Sage Therapeutics

In other news, Director George Golumbeski bought 8,000 shares of the firm’s stock in a transaction on Thursday, May 5th. The stock was acquired at an average cost of $31.45 per share, with a total value of $251,600.00. Following the completion of the acquisition, the director now owns 8,000 shares of the company’s stock, valued at $251,600. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 4.80% of the stock is currently owned by corporate insiders.

About Sage Therapeutics

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Sage Therapeutics, Inc, a biopharmaceutical company, develops and commercializes medicines to treat central nervous system disorders. Its lead product candidate is ZULRESSO, an intravenous formulation of brexanolone for the treatment of postpartum depression (PPD) in adults. The company's product pipeline also includes zuranolone, a neuroactive steroid, which is in Phase III clinical trials for treating PPD, major depressive disorders, treatment resistant disorders, generalized anxiety disorders, and bipolar depression; and SAGE-324, a compound that is in Phase II clinical trial to treat essential tremors, as well as has completed Phase I clinical trial for epilepsy and Parkinson's diseases.