ADAR1 Capital Management LLC Sells 41,950 Shares of Sage Therapeutics, Inc. (NASDAQ:SAGE)

ADAR1 Capital Management LLC lowered its stake in Sage Therapeutics, Inc. (NASDAQ:SAGE - Free Report) by 68.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 19,200 shares of the biopharmaceutical company's stock after selling 41,950 shares during the quarter. ADAR1 Capital Management LLC's holdings in Sage Therapeutics were worth $104,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of SAGE. State Street Corp increased its holdings in shares of Sage Therapeutics by 18.2% in the third quarter. State Street Corp now owns 2,926,239 shares of the biopharmaceutical company's stock worth $21,127,000 after purchasing an additional 451,377 shares during the last quarter. Geode Capital Management LLC increased its stake in Sage Therapeutics by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 1,256,903 shares of the biopharmaceutical company's stock worth $6,827,000 after acquiring an additional 14,049 shares during the last quarter. Federated Hermes Inc. increased its stake in Sage Therapeutics by 63.7% in the 4th quarter. Federated Hermes Inc. now owns 1,105,779 shares of the biopharmaceutical company's stock worth $6,004,000 after acquiring an additional 430,432 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Sage Therapeutics by 2.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 462,309 shares of the biopharmaceutical company's stock worth $2,510,000 after acquiring an additional 10,116 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Sage Therapeutics by 157.9% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 169,057 shares of the biopharmaceutical company's stock valued at $918,000 after acquiring an additional 103,495 shares during the last quarter. Hedge funds and other institutional investors own 99.22% of the company's stock.

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Sage Therapeutics Trading Up 3.6 %

Shares of NASDAQ SAGE traded up $0.25 during trading hours on Friday, reaching $7.16. The stock had a trading volume of 1,110,747 shares, compared to its average volume of 1,253,524. Sage Therapeutics, Inc. has a 52-week low of $4.62 and a 52-week high of $15.74. The firm has a market cap of $440.20 million, a price-to-earnings ratio of -1.09 and a beta of 0.48. The business's fifty day moving average price is $7.45 and its two-hundred day moving average price is $6.71.

Sage Therapeutics (NASDAQ:SAGE - Get Free Report) last issued its earnings results on Tuesday, February 11th. The biopharmaceutical company reported ($1.56) earnings per share for the quarter, missing the consensus estimate of ($1.54) by ($0.02). Sage Therapeutics had a negative return on equity of 68.18% and a negative net margin of 971.50%. Equities research analysts anticipate that Sage Therapeutics, Inc. will post -3.52 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Bank of America initiated coverage on shares of Sage Therapeutics in a research report on Tuesday, March 11th. They issued an "underperform" rating and a $5.00 price target on the stock. Needham & Company LLC restated a "hold" rating on shares of Sage Therapeutics in a research report on Wednesday, February 12th. Stifel Nicolaus dropped their price target on Sage Therapeutics from $10.00 to $6.00 and set a "hold" rating for the company in a research report on Monday, December 16th. Scotiabank reduced their price objective on 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. Finally, HC Wainwright reiterated a "neutral" rating and issued a $12.00 target price (down previously from $14.00) on shares of Sage Therapeutics in a report on Wednesday, February 12th. Three analysts have rated the stock with a sell rating, fifteen have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $8.81.

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.