Jane Street Group LLC Decreases Position in Sage Therapeutics, Inc. (NASDAQ:SAGE)

Jane Street Group LLC cut its holdings in shares of Sage Therapeutics, Inc. (NASDAQ:SAGE) by 8.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 227,476 shares of the biopharmaceutical company’s stock after selling 20,549 shares during the period. Jane Street Group LLC owned approximately 0.37% of Sage Therapeutics worth $1,642,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in SAGE. State Street Corp lifted its holdings in shares of Sage Therapeutics by 18.2% during the 3rd quarter. State Street Corp now owns 2,926,239 shares of the biopharmaceutical company’s stock valued at $21,127,000 after buying an additional 451,377 shares during the period. RTW Investments LP increased its position in Sage Therapeutics by 2.0% during 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 during the last quarter. Erste Asset Management GmbH bought a new position in Sage Therapeutics in the third quarter valued at about $208,000. Martingale Asset Management L P boosted its position in Sage Therapeutics by 55.1% in the third quarter. Martingale Asset Management L P now owns 47,077 shares of the biopharmaceutical company’s stock worth $340,000 after purchasing an additional 16,717 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its stake in shares of Sage Therapeutics by 52.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 70,986 shares of the biopharmaceutical company’s stock valued at $513,000 after purchasing an additional 24,356 shares during the period. 99.22% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SAGE has been the topic of a number of recent research reports. Oppenheimer decreased their target price on Sage Therapeutics from $9.00 to $8.00 and set a “market perform” rating on the stock in a report on Wednesday, October 30th. Piper Sandler restated an “overweight” rating and set a $26.00 target price (down previously from $52.00) on shares of Sage Therapeutics in a research note on Wednesday, October 30th. StockNews.com lowered Sage Therapeutics from a “hold” rating to a “sell” rating in a research note on Thursday, October 31st. Truist Financial lowered 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. Finally, Stifel Nicolaus cut their target price on Sage Therapeutics from $10.00 to $6.00 and set a “hold” rating for the company in a research report on Monday, December 16th. Three research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $11.53.

Sage Therapeutics Stock Up 4.6 %

Shares of SAGE opened at $5.73 on Friday. Sage Therapeutics, Inc. has a 52-week low of $4.62 and a 52-week high of $28.26. The company has a market cap of $350.52 million, a PE ratio of -1.03 and a beta of 0.87. The business has a fifty day moving average of $5.98 and a 200 day moving average of $8.04.

Sage Therapeutics (NASDAQ:SAGE) last issued its earnings results on Tuesday, October 29th. The biopharmaceutical company reported ($1.53) EPS for the quarter, missing analysts’ consensus estimates of ($1.52) by ($0.01). The company had revenue of $11.87 million during the quarter, compared to the consensus estimate of $10.80 million. Sage Therapeutics had a negative return on equity of 50.29% and a negative net margin of 317.29%. Sage Therapeutics’s revenue was up 337.1% on a year-over-year basis. During the same quarter in the prior year, the company earned ($2.81) earnings per share. As a group, research analysts anticipate that Sage Therapeutics, Inc. will post -6.53 earnings per share for the current fiscal year.

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.