Sage Therapeutics, Inc. (NASDAQ:SAGE) Shares Sold by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. lowered its holdings in Sage Therapeutics, Inc. (NASDAQ:SAGE - Free Report) by 11.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,260,017 shares of the biopharmaceutical company's stock after selling 165,361 shares during the period. Jacobs Levy Equity Management Inc. owned approximately 2.06% of Sage Therapeutics worth $9,097,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in SAGE. Federated Hermes Inc. acquired a new stake in shares of Sage Therapeutics in the second quarter worth $7,281,000. Renaissance Technologies LLC boosted its stake in shares of Sage Therapeutics by 1,476.6% in the second quarter. Renaissance Technologies LLC now owns 553,396 shares of the biopharmaceutical company's stock valued at $6,010,000 after purchasing an additional 518,296 shares during the period. Cubist Systematic Strategies LLC boosted its stake in shares of Sage Therapeutics by 831.2% in the second quarter. Cubist Systematic Strategies LLC now owns 489,089 shares of the biopharmaceutical company's stock valued at $5,312,000 after purchasing an additional 436,566 shares during the period. Squarepoint Ops LLC boosted its stake in shares of Sage Therapeutics by 1,112.0% in the second quarter. Squarepoint Ops LLC now owns 313,407 shares of the biopharmaceutical company's stock valued at $3,404,000 after purchasing an additional 287,549 shares during the period. Finally, Marshall Wace LLP purchased a new position in shares of Sage Therapeutics in the second quarter valued at $1,178,000. Institutional investors and hedge funds own 99.22% of the company's stock.

Sage Therapeutics Stock Performance

Shares of Sage Therapeutics stock traded up $0.01 during trading hours on Friday, reaching $5.61. The company's stock had a trading volume of 849,828 shares, compared to its average volume of 962,212. The company's 50 day simple moving average is $6.37 and its 200 day simple moving average is $8.64. Sage Therapeutics, Inc. has a one year low of $4.62 and a one year high of $28.26. The stock has a market cap of $343.16 million, a P/E ratio of -1.00 and a beta of 0.87.

Sage Therapeutics (NASDAQ:SAGE - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported ($1.53) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.52) by ($0.01). Sage Therapeutics had a negative return on equity of 50.29% and a negative net margin of 317.29%. The business had revenue of $11.87 million during the quarter, compared to the consensus estimate of $10.80 million. During the same quarter in the previous year, the business posted ($2.81) earnings per share. The company's quarterly revenue was up 337.1% compared to the same quarter last year. On average, sell-side analysts predict that Sage Therapeutics, Inc. will post -6.53 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

SAGE has been the subject of several analyst reports. Truist Financial decreased their target price on shares of Sage Therapeutics from $13.00 to $8.00 and set a "hold" rating for the company in a research note on Wednesday, October 30th. Wedbush decreased their target price on shares of Sage Therapeutics from $9.00 to $8.00 and set a "neutral" rating for the company in a research note on Wednesday, October 9th. Oppenheimer decreased their target price on shares of Sage Therapeutics from $9.00 to $8.00 and set a "market perform" rating for the company in a research note on Wednesday, October 30th. Robert W. Baird decreased their target price on shares of Sage Therapeutics from $13.00 to $9.00 and set a "neutral" rating for the company in a research note on Wednesday, October 9th. Finally, HC Wainwright reiterated a "neutral" rating and set a $14.00 price objective on shares of Sage Therapeutics in a research note on Wednesday, November 20th. Three research analysts have rated the stock with a sell rating, seventeen have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $12.83.

About Sage Therapeutics

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.