Squarepoint Ops LLC Lowers Stock Holdings in Sage Therapeutics, Inc. (NASDAQ:SAGE)

Squarepoint Ops LLC lowered its holdings in Sage Therapeutics, Inc. (NASDAQ:SAGE) by 83.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 23,134 shares of the biopharmaceutical company’s stock after selling 118,802 shares during the period. Squarepoint Ops LLC’s holdings in Sage Therapeutics were worth $126,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in SAGE. Toronto Dominion Bank acquired a new position in shares of Sage Therapeutics during the fourth quarter worth about $742,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Sage Therapeutics during the fourth quarter worth about $112,000. ProShare Advisors LLC lifted its stake in shares of Sage Therapeutics by 31.2% during the fourth quarter. ProShare Advisors LLC now owns 18,281 shares of the biopharmaceutical company’s stock worth $99,000 after purchasing an additional 4,350 shares in the last quarter. Man Group plc acquired a new position in shares of Sage Therapeutics during the fourth quarter worth about $342,000. Finally, Nomura Holdings Inc. acquired a new position in shares of Sage Therapeutics during the fourth quarter worth about $165,000. Hedge funds and other institutional investors own 99.22% of the company’s stock.

Sage Therapeutics Stock Performance

Shares of NASDAQ:SAGE opened at $6.81 on Tuesday. Sage Therapeutics, Inc. has a 52-week low of $4.62 and a 52-week high of $13.47. The company has a market capitalization of $426.45 million, a P/E ratio of -1.03 and a beta of 0.18. The company has a 50-day simple moving average of $6.97 and a 200 day simple moving average of $6.84.

Sage Therapeutics (NASDAQ:SAGE) last released its quarterly earnings results on Tuesday, April 29th. The biopharmaceutical company reported ($1.01) earnings per share for the quarter, missing the consensus estimate of ($0.99) by ($0.02). The company had revenue of $14.06 million during the quarter, compared to the consensus estimate of $14.12 million. Sage Therapeutics had a negative net margin of 971.50% and a negative return on equity of 68.18%. The firm’s revenue was up 78.0% compared to the same quarter last year. During the same period in the prior year, the company earned ($1.80) earnings per share. As a group, equities analysts forecast that Sage Therapeutics, Inc. will post -3.52 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. HC Wainwright reaffirmed a “neutral” rating and set a $12.00 target price (down from $14.00) on shares of Sage Therapeutics in a research report on Wednesday, February 12th. Wedbush reaffirmed a “neutral” rating and set a $6.00 target price on shares of Sage Therapeutics in a research report on Wednesday, February 12th. Wall Street Zen lowered Sage Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday. Canaccord Genuity Group dropped their target price on Sage Therapeutics from $9.00 to $8.00 and set a “hold” rating on the stock in a research report on Wednesday, February 12th. Finally, Scotiabank dropped their target price 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. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $8.87.

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.