Sage Therapeutics, Inc. (NASDAQ:SAGE) Short Interest Up 26.9% in January

Sage Therapeutics, Inc. (NASDAQ:SAGE - Get Free Report) was the recipient of a significant growth in short interest during the month of January. As of January 15th, there was short interest totalling 6,130,000 shares, a growth of 26.9% from the December 31st total of 4,830,000 shares. Based on an average daily volume of 1,590,000 shares, the short-interest ratio is presently 3.9 days. Approximately 11.7% of the company's shares are short sold.

Institutional Trading of Sage Therapeutics

Several institutional investors have recently added to or reduced their stakes in the stock. RTW Investments LP raised its holdings in Sage Therapeutics by 2.0% in the third quarter. RTW Investments LP now owns 5,591,700 shares of the biopharmaceutical company's stock valued at $40,372,000 after acquiring an additional 111,123 shares in the last quarter. State Street Corp raised its holdings in Sage Therapeutics by 18.2% in the third quarter. State Street Corp now owns 2,926,239 shares of the biopharmaceutical company's stock valued at $21,127,000 after acquiring an additional 451,377 shares in the last quarter. Geode Capital Management LLC raised its holdings in Sage Therapeutics by 0.3% in the third quarter. Geode Capital Management LLC now owns 1,242,854 shares of the biopharmaceutical company's stock valued at $8,975,000 after acquiring an additional 3,757 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Sage Therapeutics by 2.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 462,309 shares of the biopharmaceutical company's stock valued at $2,510,000 after acquiring an additional 10,116 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in Sage Therapeutics by 11.3% in the third quarter. Assenagon Asset Management S.A. now owns 186,039 shares of the biopharmaceutical company's stock valued at $1,343,000 after acquiring an additional 18,814 shares in the last quarter. 99.22% of the stock is owned by institutional investors and hedge funds.

Sage Therapeutics Stock Performance

Shares of SAGE stock traded down $0.03 on Friday, hitting $7.25. The stock had a trading volume of 1,222,927 shares, compared to its average volume of 2,561,201. The firm has a market capitalization of $443.48 million, a price-to-earnings ratio of -1.30 and a beta of 0.94. The stock's 50 day moving average is $6.21 and its 200-day moving average is $7.08. Sage Therapeutics has a 52-week low of $4.62 and a 52-week high of $27.39.

Wall Street Analyst Weigh In

Several brokerages recently commented on SAGE. Scotiabank dropped their price target on shares of Sage Therapeutics from $17.00 to $14.00 and set a "sector outperform" rating for the company in a research report on Wednesday, October 30th. Oppenheimer dropped their price target on shares of Sage Therapeutics from $9.00 to $8.00 and set a "market perform" rating for the company in a research report on Wednesday, October 30th. Raymond James reiterated a "market perform" rating on shares of Sage Therapeutics in a research note on Thursday, October 10th. Needham & Company LLC reiterated a "hold" rating on shares of Sage Therapeutics in a research note on Wednesday, November 20th. Finally, Truist Financial decreased their price objective 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. Three equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $10.53.

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.