Swiss National Bank Cuts Stock Position in Sage Therapeutics, Inc. (NASDAQ:SAGE)

Swiss National Bank lowered its holdings in Sage Therapeutics, Inc. (NASDAQ:SAGE) by 10.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 115,500 shares of the biopharmaceutical company’s stock after selling 13,700 shares during the period. Swiss National Bank owned about 0.19% of Sage Therapeutics worth $4,846,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Advisor Group Holdings Inc. raised its stake in shares of Sage Therapeutics by 63.6% in the first quarter. Advisor Group Holdings Inc. now owns 11,406 shares of the biopharmaceutical company’s stock valued at $378,000 after buying an additional 4,432 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Sage Therapeutics by 3.0% in the first quarter. Bank of New York Mellon Corp now owns 352,623 shares of the biopharmaceutical company’s stock valued at $11,672,000 after buying an additional 10,134 shares during the period. MetLife Investment Management LLC bought a new stake in shares of Sage Therapeutics in the first quarter valued at $34,000. Vanguard Group Inc. raised its stake in shares of Sage Therapeutics by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 4,625,003 shares of the biopharmaceutical company’s stock valued at $153,088,000 after purchasing an additional 46,762 shares during the period. Finally, First Trust Advisors LP raised its stake in shares of Sage Therapeutics by 4.1% during the 1st quarter. First Trust Advisors LP now owns 844,652 shares of the biopharmaceutical company’s stock valued at $27,958,000 after purchasing an additional 33,218 shares during the period. Hedge funds and other institutional investors own 89.68% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on SAGE. Barclays decreased their price objective on Sage Therapeutics from $311.00 to $294.00 in a research note on Monday, August 7th. HC Wainwright decreased their target price on Sage Therapeutics from $50.00 to $27.00 in a research note on Tuesday, August 8th. Truist Financial decreased their target price on Sage Therapeutics from $40.00 to $20.00 and set a “hold” rating on the stock in a research note on Tuesday, August 8th. Canaccord Genuity Group restated a “hold” rating and issued a $21.00 target price (down from $64.00) on shares of Sage Therapeutics in a research note on Tuesday, August 8th. Finally, Needham & Company LLC lowered Sage Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, August 8th. One analyst has rated the stock with a sell rating, seventeen have given a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $44.55.

Insiders Place Their Bets

In other Sage Therapeutics news, Director Elizabeth Barrett acquired 2,000 shares of the company’s stock in a transaction on Wednesday, August 9th. The stock was acquired at an average price of $18.64 per share, for a total transaction of $37,280.00. Following the acquisition, the director now owns 3,000 shares in the company, valued at approximately $55,920. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 5.30% of the company’s stock.

Sage Therapeutics Price Performance

Shares of SAGE stock opened at $20.00 on Friday. The stock has a market capitalization of $1.20 billion, a PE ratio of -2.02 and a beta of 1.10. Sage Therapeutics, Inc. has a 1-year low of $16.51 and a 1-year high of $59.99. The business has a 50-day moving average of $34.73 and a 200 day moving average of $42.94.

Sage Therapeutics (NASDAQ:SAGE) last issued its earnings results on Monday, August 7th. The biopharmaceutical company reported ($2.68) earnings per share for the quarter, missing the consensus estimate of ($2.55) by ($0.13). The company had revenue of $2.47 million for the quarter, compared to analysts’ expectations of $2.94 million. Sage Therapeutics had a negative net margin of 5,704.03% and a negative return on equity of 49.82%. The company’s revenue was up 64.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($2.13) earnings per share. Analysts anticipate that Sage Therapeutics, Inc. will post -9.19 EPS for the current year.

Sage Therapeutics 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; zuranolone, a neuroactive steroid, which has completed Phase III clinical trials for treating PPD and major depressive disorders, as well as is in Phase II clinical trials for treatment resistant depression, 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.