Sage Therapeutics, Inc. (NASDAQ:SAGE) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. reduced its position in Sage Therapeutics, Inc. (NASDAQ:SAGE) by 87.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 150,823 shares of the biopharmaceutical company’s stock after selling 1,049,152 shares during the quarter. JPMorgan Chase & Co. owned about 0.25% of Sage Therapeutics worth $1,089,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its holdings in shares of Sage Therapeutics by 0.3% during the third quarter. Geode Capital Management LLC now owns 1,242,854 shares of the biopharmaceutical company’s stock worth $8,975,000 after buying an additional 3,757 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its position in Sage Therapeutics by 66.1% during the third quarter. China Universal Asset Management Co. Ltd. now owns 11,742 shares of the biopharmaceutical company’s stock worth $85,000 after acquiring an additional 4,672 shares during the last quarter. Quest Partners LLC grew its stake in Sage Therapeutics by 56.3% during the 3rd quarter. Quest Partners LLC now owns 18,381 shares of the biopharmaceutical company’s stock valued at $133,000 after acquiring an additional 6,618 shares in the last quarter. Harbor Capital Advisors Inc. raised its holdings in Sage Therapeutics by 21.7% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 45,738 shares of the biopharmaceutical company’s stock valued at $330,000 after acquiring an additional 8,166 shares during the last quarter. Finally, Creative Planning purchased a new position in Sage Therapeutics in the 3rd quarter worth approximately $88,000. Hedge funds and other institutional investors own 99.22% of the company’s stock.

Sage Therapeutics Price Performance

Shares of NASDAQ:SAGE opened at $7.10 on Friday. The firm has a market capitalization of $434.31 million, a PE ratio of -1.27 and a beta of 0.91. Sage Therapeutics, Inc. has a 1 year low of $4.62 and a 1 year high of $27.67. The firm’s 50-day moving average is $5.83 and its two-hundred day moving average is $7.37.

Sage Therapeutics (NASDAQ:SAGE) last issued its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported ($1.53) EPS for the quarter, missing the consensus estimate of ($1.52) by ($0.01). The business had revenue of $11.87 million during the quarter, compared to analysts’ expectations of $10.80 million. Sage Therapeutics had a negative net margin of 317.29% and a negative return on equity of 50.29%. The business’s quarterly revenue was up 337.1% on a year-over-year basis. During the same period in the prior year, the business earned ($2.81) EPS. Analysts expect that Sage Therapeutics, Inc. will post -6.47 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on SAGE shares. Scotiabank dropped their price target on 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. Raymond James restated a “market perform” rating on shares of Sage Therapeutics in a report on Thursday, October 10th. Needham & Company LLC reiterated a “hold” rating on shares of Sage Therapeutics in a report on Wednesday, November 20th. Piper Sandler dropped their price objective on shares of Sage Therapeutics from $26.00 to $9.00 and set an “overweight” rating for the company in a report on Thursday, January 2nd. Finally, HC Wainwright restated a “neutral” rating and set a $14.00 price objective on shares of Sage Therapeutics in a research report on Wednesday, November 20th. Three research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price 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.