Renaissance Technologies LLC Reduces Position in Sage Therapeutics, Inc. (NASDAQ:SAGE)

Renaissance Technologies LLC decreased its holdings in Sage Therapeutics, Inc. (NASDAQ:SAGE - Free Report) by 12.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 450,795 shares of the biopharmaceutical company's stock after selling 62,505 shares during the period. Renaissance Technologies LLC owned about 0.74% of Sage Therapeutics worth $2,448,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of SAGE. Geode Capital Management LLC raised its stake in shares of Sage Therapeutics by 1.1% during 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 in the last quarter. Federated Hermes Inc. increased its position in shares of Sage Therapeutics by 63.7% during the fourth quarter. Federated Hermes Inc. now owns 1,105,779 shares of the biopharmaceutical company's stock worth $6,004,000 after purchasing an additional 430,432 shares in the last quarter. Charles Schwab Investment Management Inc. lifted 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 valued at $2,510,000 after purchasing an additional 10,116 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Sage Therapeutics by 157.9% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 169,057 shares of the biopharmaceutical company's stock worth $918,000 after purchasing an additional 103,495 shares in the last quarter. Finally, ExodusPoint Capital Management LP purchased a new position in Sage Therapeutics during the 4th quarter worth $759,000. Hedge funds and other institutional investors own 99.22% of the company's stock.

Analyst Ratings Changes

SAGE has been the subject of several recent analyst reports. Scotiabank lowered their price target on Sage Therapeutics from $14.00 to $12.00 and set a "sector outperform" rating for the company in a report on Wednesday, February 12th. Wedbush reiterated a "neutral" rating and issued a $6.00 target price on shares of Sage Therapeutics in a research note on Wednesday, February 12th. Needham & Company LLC reaffirmed a "hold" rating on shares of Sage Therapeutics in a report on Friday. Piper Sandler lowered their price objective on shares of Sage Therapeutics from $26.00 to $9.00 and set an "overweight" rating for the company in a research note on Thursday, January 2nd. Finally, HC Wainwright reissued a "neutral" rating and issued a $12.00 target price (down from $14.00) on shares of Sage Therapeutics in a research report on Wednesday, February 12th. Three investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $8.81.

Sage Therapeutics Price Performance

SAGE stock traded down $0.17 during midday trading on Tuesday, hitting $7.60. 1,019,972 shares of the stock traded hands, compared to its average volume of 1,216,372. The stock's fifty day simple moving average is $7.54 and its 200-day simple moving average is $6.77. The firm has a market cap of $467.26 million, a P/E ratio of -1.15 and a beta of 0.48. Sage Therapeutics, Inc. has a 1-year low of $4.62 and a 1-year high of $14.71.

Sage Therapeutics (NASDAQ:SAGE - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The biopharmaceutical company reported ($1.01) earnings per share for the quarter, missing analysts' consensus estimates of ($1.00) by ($0.01). Sage Therapeutics had a negative return on equity of 68.18% and a negative net margin of 971.50%. On average, research analysts predict that Sage Therapeutics, Inc. will post -3.52 earnings per share for the current year.

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.