Bank of New York Mellon Corp Has $931,000 Holdings in Sage Therapeutics, Inc. (NASDAQ:SAGE)

Bank of New York Mellon Corp trimmed its position in Sage Therapeutics, Inc. (NASDAQ:SAGE) by 5.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 171,444 shares of the biopharmaceutical company’s stock after selling 9,655 shares during the quarter. Bank of New York Mellon Corp owned 0.28% of Sage Therapeutics worth $931,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. State Street Corp raised its position 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 worth $21,127,000 after purchasing an additional 451,377 shares in the last quarter. RTW Investments LP grew its stake in shares of Sage Therapeutics by 2.0% in the 3rd quarter. RTW Investments LP now owns 5,591,700 shares of the biopharmaceutical company’s stock valued at $40,372,000 after purchasing an additional 111,123 shares during the period. Algert Global LLC grew its stake in shares of Sage Therapeutics by 120.6% in the 3rd quarter. Algert Global LLC now owns 143,034 shares of the biopharmaceutical company’s stock valued at $1,033,000 after purchasing an additional 78,190 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Sage Therapeutics in the 3rd quarter worth approximately $473,000. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Sage Therapeutics by 10.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 452,193 shares of the biopharmaceutical company’s stock worth $3,265,000 after buying an additional 43,617 shares during the period. 99.22% of the stock is owned by institutional investors.

Sage Therapeutics Stock Performance

NASDAQ SAGE opened at $8.53 on Wednesday. The stock has a market capitalization of $524.43 million, a P/E ratio of -1.29 and a beta of 0.82. Sage Therapeutics, Inc. has a 52 week low of $4.62 and a 52 week high of $19.34. The stock has a fifty day moving average of $7.39 and a 200-day moving average of $6.71.

Sage Therapeutics (NASDAQ:SAGE) last announced its quarterly earnings data on Tuesday, February 11th. The biopharmaceutical company reported ($1.56) EPS for the quarter, missing analysts’ consensus estimates of ($1.54) by ($0.02). Sage Therapeutics had a negative return on equity of 68.18% and a negative net margin of 971.50%. Equities research analysts forecast that Sage Therapeutics, Inc. will post -3.52 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Canaccord Genuity Group lowered their price target on Sage Therapeutics from $9.00 to $8.00 and set a “hold” rating on the stock in a research report on Wednesday, February 12th. Bank of America initiated coverage on shares of Sage Therapeutics in a report on Tuesday, March 11th. They issued an “underperform” rating and a $5.00 target price on the stock. Wedbush reissued a “neutral” rating and set a $6.00 price target on shares of Sage Therapeutics in a report on Wednesday, February 12th. Stifel Nicolaus reduced their price target on shares of Sage Therapeutics from $10.00 to $6.00 and set a “hold” rating on the stock in a research report on Monday, December 16th. Finally, HC Wainwright reaffirmed a “neutral” rating and set a $12.00 price objective (down previously from $14.00) on shares of Sage Therapeutics in a report on Wednesday, February 12th. Three analysts have rated the stock with a sell rating, fifteen have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Sage Therapeutics presently has an average rating of “Hold” and a consensus target price of $8.81.

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.