Algert Global LLC Sells 104,738 Shares of Sage Therapeutics, Inc. (NASDAQ:SAGE)

Algert Global LLC lowered its holdings in Sage Therapeutics, Inc. (NASDAQ:SAGE) by 73.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 38,296 shares of the biopharmaceutical company’s stock after selling 104,738 shares during the period. Algert Global LLC owned approximately 0.06% of Sage Therapeutics worth $208,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. US Bancorp DE grew its stake in Sage Therapeutics by 22.3% during the fourth quarter. US Bancorp DE now owns 12,430 shares of the biopharmaceutical company’s stock worth $67,000 after buying an additional 2,268 shares in the last quarter. Teacher Retirement System of Texas raised its position in shares of Sage Therapeutics by 21.6% in the 4th quarter. Teacher Retirement System of Texas now owns 13,768 shares of the biopharmaceutical company’s stock valued at $75,000 after buying an additional 2,446 shares in the last quarter. Picton Mahoney Asset Management lifted its holdings in shares of Sage Therapeutics by 126.0% during the 4th quarter. Picton Mahoney Asset Management now owns 6,423 shares of the biopharmaceutical company’s stock worth $35,000 after acquiring an additional 3,581 shares during the period. Invesco Ltd. boosted its position in shares of Sage Therapeutics by 5.3% during the 4th quarter. Invesco Ltd. now owns 92,528 shares of the biopharmaceutical company’s stock worth $502,000 after acquiring an additional 4,629 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its position in shares of Sage Therapeutics by 27.3% during the 4th quarter. Wells Fargo & Company MN now owns 33,051 shares of the biopharmaceutical company’s stock worth $179,000 after acquiring an additional 7,087 shares in the last quarter. Institutional investors and hedge funds own 99.22% of the company’s stock.

Sage Therapeutics Stock Down 2.1%

NASDAQ SAGE opened at $6.61 on Wednesday. The company has a market capitalization of $413.92 million, a price-to-earnings ratio of -1.00 and a beta of 0.20. Sage Therapeutics, Inc. has a twelve month low of $4.62 and a twelve month high of $13.47. The stock has a fifty day simple moving average of $7.49 and a 200 day simple moving average of $6.74.

Sage Therapeutics (NASDAQ:SAGE) last issued 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 analyst estimates of $14.12 million. Sage Therapeutics had a negative net margin of 971.50% and a negative return on equity of 68.18%. The company’s quarterly revenue was up 78.0% on a year-over-year basis. During the same period in the previous year, the company posted ($1.80) EPS. Research analysts expect that Sage Therapeutics, Inc. will post -3.52 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. StockNews.com upgraded shares of Sage Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday, May 2nd. Wedbush reissued a “neutral” rating and set a $6.00 price target on shares of Sage Therapeutics in a report on Wednesday, February 12th. Bank of America started coverage on Sage Therapeutics in a research note on Tuesday, March 11th. They issued an “underperform” rating and a $5.00 price objective on the stock. Canaccord Genuity Group lowered their target price on Sage Therapeutics from $9.00 to $8.00 and set a “hold” rating for the company in a research note on Wednesday, February 12th. Finally, Scotiabank reduced their price target on shares of Sage Therapeutics from $14.00 to $12.00 and set a “sector outperform” rating on the stock in a research note on Wednesday, February 12th. Two analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $8.81.

Sage Therapeutics Company 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.