Suffolk Capital Management LLC Buys 47,665 Shares of SAGE Therapeutics Inc (SAGE)

Suffolk Capital Management LLC raised its stake in SAGE Therapeutics Inc (NASDAQ:SAGE) by 307.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 63,176 shares of the biopharmaceutical company’s stock after acquiring an additional 47,665 shares during the period. Suffolk Capital Management LLC owned approximately 0.15% of SAGE Therapeutics worth $10,406,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SAGE. Bank of New York Mellon Corp grew its stake in shares of SAGE Therapeutics by 36.5% in the third quarter. Bank of New York Mellon Corp now owns 2,710,027 shares of the biopharmaceutical company’s stock worth $168,834,000 after acquiring an additional 724,494 shares during the last quarter. New York State Common Retirement Fund boosted its position in shares of SAGE Therapeutics by 258.0% during the third quarter. New York State Common Retirement Fund now owns 149,564 shares of the biopharmaceutical company’s stock valued at $9,318,000 after buying an additional 107,782 shares during the last quarter. Emerald Advisers Inc. PA boosted its position in shares of SAGE Therapeutics by 123.0% during the fourth quarter. Emerald Advisers Inc. PA now owns 168,785 shares of the biopharmaceutical company’s stock valued at $27,801,000 after buying an additional 93,106 shares during the last quarter. State Street Corp boosted its position in shares of SAGE Therapeutics by 7.7% during the second quarter. State Street Corp now owns 1,212,384 shares of the biopharmaceutical company’s stock valued at $96,558,000 after buying an additional 87,097 shares during the last quarter. Finally, California Public Employees Retirement System boosted its position in shares of SAGE Therapeutics by 487.9% during the fourth quarter. California Public Employees Retirement System now owns 74,660 shares of the biopharmaceutical company’s stock valued at $12,297,000 after buying an additional 61,961 shares during the last quarter. 95.47% of the stock is currently owned by hedge funds and other institutional investors.

SAGE Therapeutics Inc (NASDAQ SAGE) opened at $163.60 on Friday. The stock has a market capitalization of $7,469.40, a PE ratio of -23.89 and a beta of 2.98. SAGE Therapeutics Inc has a 12-month low of $56.82 and a 12-month high of $195.97.

In other SAGE Therapeutics news, CEO Jeffrey M. Jonas sold 210,247 shares of the firm’s stock in a transaction dated Thursday, December 21st. The stock was sold at an average price of $157.45, for a total value of $33,103,390.15. Following the transaction, the chief executive officer now directly owns 211,473 shares of the company’s stock, valued at $33,296,423.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Albert Robichaud sold 60,000 shares of the firm’s stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $159.43, for a total value of $9,565,800.00. Following the completion of the transaction, the insider now directly owns 152,759 shares in the company, valued at approximately $24,354,367.37. The disclosure for this sale can be found here. Insiders sold 314,247 shares of company stock worth $50,465,110 over the last three months. Insiders own 6.10% of the company’s stock.

Several equities research analysts recently commented on SAGE shares. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of SAGE Therapeutics in a research report on Wednesday, January 10th. Royal Bank of Canada increased their price objective on SAGE Therapeutics from $137.00 to $280.00 and gave the company a “sell” rating in a research report on Thursday, December 7th. They noted that the move was a valuation call. Chardan Capital raised SAGE Therapeutics from a “neutral” rating to a “buy” rating and increased their price objective for the company from $60.00 to $140.00 in a research report on Friday, November 10th. Cowen reaffirmed a “buy” rating on shares of SAGE Therapeutics in a research report on Monday, December 11th. Finally, Leerink Swann increased their price objective on SAGE Therapeutics from $123.00 to $246.00 in a research report on Thursday, December 7th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and twelve have assigned a buy rating to the company. The company has an average rating of “Buy” and an average price target of $171.21.

COPYRIGHT VIOLATION WARNING: This report was originally published by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are reading this report on another site, it was illegally copied and republished in violation of international copyright and trademark legislation. The correct version of this report can be read at https://www.dispatchtribunal.com/2018/02/16/suffolk-capital-management-llc-buys-47665-shares-of-sage-therapeutics-inc-sage.html.

SAGE Therapeutics Profile

SAGE Therapeutics, Inc is a clinical-stage biopharmaceutical company. The Company is engaged in developing and commercializing medicines to treat central nervous system (CNS) disorders. The Company’s lead product candidate, SAGE-547 is an intravenous formulation of allopregnanolone, a neurosteroid that acts as a synaptic and extrasynaptic modulator of the Gamma-Amino Butyric Acid-A (GABAA) receptor.

Institutional Ownership by Quarter for SAGE Therapeutics (NASDAQ:SAGE)

Receive News & Ratings for SAGE Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SAGE Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply