Amalgamated Bank grew its stake in shares of SAGE Therapeutics Inc (NASDAQ:SAGE) by 16.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,147 shares of the biopharmaceutical company’s stock after purchasing an additional 744 shares during the quarter. Amalgamated Bank’s holdings in SAGE Therapeutics were worth $848,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently modified their holdings of SAGE. State Board of Administration of Florida Retirement System lifted its stake in SAGE Therapeutics by 32.3% in the third quarter. State Board of Administration of Florida Retirement System now owns 16,852 shares of the biopharmaceutical company’s stock worth $1,050,000 after acquiring an additional 4,110 shares during the period. State of Wisconsin Investment Board lifted its stake in SAGE Therapeutics by 33.3% in the third quarter. State of Wisconsin Investment Board now owns 33,334 shares of the biopharmaceutical company’s stock worth $2,077,000 after acquiring an additional 8,334 shares during the period. American Century Companies Inc. lifted its stake in SAGE Therapeutics by 8.4% in the third quarter. American Century Companies Inc. now owns 25,343 shares of the biopharmaceutical company’s stock worth $1,579,000 after acquiring an additional 1,959 shares during the period. Bessemer Group Inc. purchased a new stake in SAGE Therapeutics in the third quarter worth about $141,000. Finally, BNP Paribas Arbitrage SA lifted its stake in SAGE Therapeutics by 61.1% in the third quarter. BNP Paribas Arbitrage SA now owns 6,922 shares of the biopharmaceutical company’s stock worth $431,000 after acquiring an additional 2,626 shares during the period. 96.29% of the stock is owned by hedge funds and other institutional investors.
In other news, insider Stephen Kanes sold 44,000 shares of the company’s stock in a transaction dated Wednesday, January 10th. The shares were sold at an average price of $177.18, for a total transaction of $7,795,920.00. Following the transaction, the insider now owns 46,348 shares in the company, valued at $8,211,938.64. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Steven M. Paul sold 58,139 shares of the company’s stock in a transaction dated Tuesday, March 6th. The shares were sold at an average price of $172.00, for a total transaction of $9,999,908.00. Following the transaction, the director now owns 632,712 shares in the company, valued at approximately $108,826,464. The disclosure for this sale can be found here. Corporate insiders own 6.10% of the company’s stock.
Shares of SAGE stock traded down $6.08 during mid-day trading on Friday, hitting $141.32. 309,918 shares of the stock traded hands, compared to its average volume of 351,116. The firm has a market cap of $6,747.67, a price-to-earnings ratio of -19.93 and a beta of 3.03. SAGE Therapeutics Inc has a 52-week low of $59.57 and a 52-week high of $195.97.
SAGE Therapeutics (NASDAQ:SAGE) last posted its quarterly earnings data on Thursday, February 22nd. The biopharmaceutical company reported ($1.75) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.98) by $0.23. During the same quarter last year, the company posted ($1.50) EPS. sell-side analysts expect that SAGE Therapeutics Inc will post -8.34 EPS for the current year.
A number of research firms recently weighed in on SAGE. BidaskClub lowered shares of SAGE Therapeutics from a “hold” rating to a “sell” rating in a research note on Wednesday. ValuEngine raised shares of SAGE Therapeutics from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Canaccord Genuity reaffirmed a “buy” rating and issued a $210.00 price objective on shares of SAGE Therapeutics in a research note on Monday, March 26th. Cowen reaffirmed a “buy” rating and issued a $202.00 price objective on shares of SAGE Therapeutics in a research note on Tuesday, March 20th. Finally, SunTrust Banks upped their price objective on shares of SAGE Therapeutics to $203.00 and gave the stock a “buy” rating in a research note on Wednesday, February 28th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and fourteen have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $185.20.
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About SAGE Therapeutics
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.
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