Point72 Asia Singapore Pte. Ltd. Grows Stock Holdings in Sage Therapeutics, Inc. (NASDAQ:SAGE)

Point72 Asia Singapore Pte. Ltd. lifted its holdings in Sage Therapeutics, Inc. (NASDAQ:SAGE) by 5,420.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,806 shares of the biopharmaceutical company’s stock after acquiring an additional 21,411 shares during the period. Point72 Asia Singapore Pte. Ltd.’s holdings in Sage Therapeutics were worth $237,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in SAGE. RTW Investments LP lifted its position in Sage Therapeutics by 0.9% during the 4th quarter. RTW Investments LP now owns 5,197,019 shares of the biopharmaceutical company’s stock worth $112,619,000 after acquiring an additional 47,537 shares in the last quarter. Pennant Investors LP purchased a new position in shares of Sage Therapeutics in the fourth quarter valued at $379,000. Caxton Associates LP boosted its stake in shares of Sage Therapeutics by 76.1% in the fourth quarter. Caxton Associates LP now owns 119,781 shares of the biopharmaceutical company’s stock valued at $2,596,000 after purchasing an additional 51,746 shares during the period. Fisher Asset Management LLC grew its holdings in Sage Therapeutics by 8.1% during the 4th quarter. Fisher Asset Management LLC now owns 431,925 shares of the biopharmaceutical company’s stock valued at $9,360,000 after purchasing an additional 32,306 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in Sage Therapeutics by 2.1% during the 4th quarter. Vanguard Group Inc. now owns 5,319,360 shares of the biopharmaceutical company’s stock worth $115,271,000 after buying an additional 111,358 shares during the period. Hedge funds and other institutional investors own 99.22% of the company’s stock.

Sage Therapeutics Trading Down 3.6 %

Shares of NASDAQ SAGE opened at $6.96 on Wednesday. The company has a market cap of $424.91 million, a price-to-earnings ratio of -0.83 and a beta of 0.91. The stock’s 50 day simple moving average is $8.42 and its 200 day simple moving average is $11.59. Sage Therapeutics, Inc. has a 12-month low of $6.89 and a 12-month high of $28.26.

Sage Therapeutics (NASDAQ:SAGE) last posted its earnings results on Wednesday, July 31st. The biopharmaceutical company reported ($1.70) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.68) by ($0.02). The company had revenue of $8.65 million during the quarter, compared to the consensus estimate of $8.85 million. Sage Therapeutics had a negative net margin of 458.30% and a negative return on equity of 55.87%. The business’s quarterly revenue was up 249.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($2.68) earnings per share. As a group, equities analysts forecast that Sage Therapeutics, Inc. will post -6.47 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Needham & Company LLC reissued a “hold” rating on shares of Sage Therapeutics in a research report on Thursday, August 1st. Mizuho lowered their price objective on Sage Therapeutics from $18.00 to $16.00 and set a “neutral” rating for the company in a research note on Friday, July 19th. The Goldman Sachs Group cut their target price on Sage Therapeutics from $19.00 to $11.00 and set a “neutral” rating on the stock in a research report on Friday, July 26th. Truist Financial reduced their target price on Sage Therapeutics from $18.00 to $13.00 and set a “hold” rating for the company in a research note on Wednesday, August 14th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Sage Therapeutics from $12.00 to $10.00 and set a “neutral” rating for the company in a research note on Tuesday, August 6th. Two research analysts have rated the stock with a sell rating, seventeen have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $16.06.

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; 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.