Dimensional Fund Advisors LP Sells 416,216 Shares of Sage Therapeutics, Inc. (NASDAQ:SAGE)

Dimensional Fund Advisors LP reduced its stake in Sage Therapeutics, Inc. (NASDAQ:SAGE) by 45.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 509,362 shares of the biopharmaceutical company’s stock after selling 416,216 shares during the period. Dimensional Fund Advisors LP owned 0.85% of Sage Therapeutics worth $5,531,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of SAGE. Bellevue Group AG boosted its holdings in shares of Sage Therapeutics by 27.1% in the first quarter. Bellevue Group AG now owns 4,465,544 shares of the biopharmaceutical company’s stock valued at $83,684,000 after purchasing an additional 952,193 shares during the period. Federated Hermes Inc. purchased a new stake in shares of Sage Therapeutics in the 2nd quarter worth $7,281,000. Vanguard Group Inc. lifted its holdings in shares of Sage Therapeutics by 8.1% in the 1st quarter. Vanguard Group Inc. now owns 5,751,373 shares of the biopharmaceutical company’s stock worth $107,781,000 after buying an additional 432,013 shares during the period. Baker BROS. Advisors LP bought a new position in shares of Sage Therapeutics during the 1st quarter worth $7,631,000. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of Sage Therapeutics by 69.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 811,934 shares of the biopharmaceutical company’s stock valued at $15,217,000 after buying an additional 333,805 shares during the period. 99.22% of the stock is owned by hedge funds and other institutional investors.

Sage Therapeutics Trading Down 4.3 %

NASDAQ:SAGE opened at $6.43 on Wednesday. The company has a market capitalization of $386.97 million, a P/E ratio of -0.77 and a beta of 0.91. Sage Therapeutics, Inc. has a 12 month low of $5.84 and a 12 month high of $28.26. The firm has a fifty day simple moving average of $7.90 and a 200-day simple moving average of $11.05.

Sage Therapeutics (NASDAQ:SAGE) last issued its quarterly earnings results on Wednesday, July 31st. The biopharmaceutical company reported ($1.70) EPS for the quarter, missing analysts’ consensus estimates of ($1.68) by ($0.02). The firm had revenue of $8.65 million for the quarter, compared to analyst estimates of $8.85 million. Sage Therapeutics had a negative return on equity of 55.87% and a negative net margin of 458.30%. The business’s revenue was up 249.8% compared to the same quarter last year. During the same period in the prior year, the firm posted ($2.68) EPS. Equities analysts forecast that Sage Therapeutics, Inc. will post -6.47 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on SAGE. Robert W. Baird lowered their price objective on shares of Sage Therapeutics from $15.00 to $13.00 and set a “neutral” rating for the company in a research note on Thursday, July 25th. Truist Financial dropped their price objective on shares of Sage Therapeutics from $18.00 to $13.00 and set a “hold” rating on the stock in a research note on Wednesday, August 14th. Mizuho cut their price objective on shares of Sage Therapeutics from $18.00 to $16.00 and set a “neutral” rating on the stock in a report on Friday, July 19th. TD Cowen lowered Sage Therapeutics from a “buy” rating to a “hold” rating and lowered their target price for the stock from $16.00 to $10.00 in a report on Tuesday, July 30th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Sage Therapeutics in a report on Tuesday. Two equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $15.41.

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.