JPMorgan Chase & Co. Decreases Holdings in Sage Therapeutics, Inc. (NASDAQ:SAGE)

JPMorgan Chase & Co. lowered its stake in shares of Sage Therapeutics, Inc. (NASDAQ:SAGE - Free Report) by 87.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 150,823 shares of the biopharmaceutical company's stock after selling 1,049,152 shares during the period. JPMorgan Chase & Co. owned 0.25% of Sage Therapeutics worth $1,089,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. American Century Companies Inc. increased its holdings in shares of Sage Therapeutics by 17.9% in the second quarter. American Century Companies Inc. now owns 316,331 shares of the biopharmaceutical company's stock worth $3,435,000 after purchasing an additional 48,041 shares during the period. Renaissance Technologies LLC increased its holdings 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 worth $6,010,000 after buying an additional 518,296 shares during the period. Marshall Wace LLP purchased a new position in shares of Sage Therapeutics in the second quarter worth about $1,178,000. Point72 DIFC Ltd purchased a new position in shares of Sage Therapeutics in the second quarter worth about $153,000. Finally, Cubist Systematic Strategies LLC increased its holdings 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 worth $5,312,000 after buying an additional 436,566 shares during the period. Hedge funds and other institutional investors own 99.22% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on SAGE. Stifel Nicolaus cut their target price on Sage Therapeutics from $10.00 to $6.00 and set a "hold" rating on the stock in a research note on Monday, December 16th. Truist Financial cut their price objective on Sage Therapeutics from $13.00 to $8.00 and set a "hold" rating on the stock in a research report on Wednesday, October 30th. Piper Sandler dropped their price target on Sage Therapeutics from $26.00 to $9.00 and set an "overweight" rating on the stock in a research report on Thursday, January 2nd. Raymond James reissued a "market perform" rating on shares of Sage Therapeutics in a research report on Thursday, October 10th. Finally, Robert W. Baird dropped their price target on Sage Therapeutics from $13.00 to $9.00 and set a "neutral" rating on the stock in a research report on Wednesday, October 9th. Three investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $10.53.

Sage Therapeutics Trading Up 1.1 %

Sage Therapeutics stock traded up $0.08 during mid-day trading on Friday, hitting $7.10. The stock had a trading volume of 1,537,196 shares, compared to its average volume of 2,376,504. The firm has a market capitalization of $434.33 million, a P/E ratio of -1.27 and a beta of 0.91. The firm's 50 day moving average is $5.83 and its 200 day moving average is $7.34. Sage Therapeutics, Inc. has a one year low of $4.62 and a one year high of $27.67.

Sage Therapeutics (NASDAQ:SAGE - Get Free Report) last issued its earnings results on Tuesday, October 29th. The biopharmaceutical company reported ($1.53) earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $11.87 million during the quarter, compared to the consensus estimate of $10.80 million. During the same period in the prior year, the company posted ($2.81) EPS. The company's quarterly revenue was up 337.1% on a year-over-year basis. As a group, equities research analysts forecast that Sage Therapeutics, Inc. will post -6.47 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.