Teachers Retirement System of The State of Kentucky lessened its holdings in shares of SAGE Therapeutics Inc (NASDAQ:SAGE) by 12.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 31,176 shares of the biopharmaceutical company’s stock after selling 4,617 shares during the quarter. Teachers Retirement System of The State of Kentucky owned approximately 0.07% of SAGE Therapeutics worth $5,135,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of SAGE. Bank of New York Mellon Corp increased its position in SAGE Therapeutics by 36.5% during 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 period. BlackRock Inc. increased its position in SAGE Therapeutics by 16.4% during the fourth quarter. BlackRock Inc. now owns 3,444,171 shares of the biopharmaceutical company’s stock worth $567,290,000 after acquiring an additional 486,135 shares during the period. Carillon Tower Advisers Inc. bought a new position in SAGE Therapeutics during the fourth quarter worth $74,300,000. Farallon Capital Management LLC increased its position in SAGE Therapeutics by 64.3% during the fourth quarter. Farallon Capital Management LLC now owns 400,000 shares of the biopharmaceutical company’s stock worth $65,884,000 after acquiring an additional 156,500 shares during the period. Finally, New York State Common Retirement Fund increased its position in 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 worth $9,318,000 after acquiring an additional 107,782 shares during the period. 96.29% of the stock is currently owned by hedge funds and other institutional investors.
In related news, insider Stephen Kanes sold 44,000 shares of the stock in a transaction on Wednesday, January 10th. The stock was sold at an average price of $177.18, for a total value of $7,795,920.00. Following the sale, the insider now owns 46,348 shares in the company, valued at approximately $8,211,938.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Steven M. Paul sold 58,139 shares of the stock in a transaction on Tuesday, March 6th. The shares were sold at an average price of $172.00, for a total value of $9,999,908.00. Following the completion of the sale, 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 traded down $6.08 on Friday, hitting $141.32. The company’s stock had a trading volume of 311,899 shares, compared to its average volume of 351,116. SAGE Therapeutics Inc has a fifty-two week low of $59.57 and a fifty-two week high of $195.97. The firm has a market capitalization of $6,747.67, a PE ratio of -19.93 and a beta of 3.03.
SAGE Therapeutics (NASDAQ:SAGE) last released its quarterly earnings results on Thursday, February 22nd. The biopharmaceutical company reported ($1.75) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.98) by $0.23. During the same period last year, the company posted ($1.50) EPS. research analysts anticipate that SAGE Therapeutics Inc will post -8.34 EPS for the current fiscal year.
A number of equities research analysts have weighed in on the stock. BidaskClub upgraded shares of SAGE Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, February 3rd. JPMorgan Chase restated a “buy” rating on shares of SAGE Therapeutics in a research note on Wednesday, January 10th. Cowen restated a “buy” rating on shares of SAGE Therapeutics in a research note on Monday, December 11th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $198.00 price target on shares of SAGE Therapeutics in a report on Friday, December 8th. Finally, Morgan Stanley assumed coverage on SAGE Therapeutics in a report on Monday, February 26th. They issued an “overweight” rating and a $225.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and fourteen have assigned a buy rating to the stock. SAGE Therapeutics currently has an average rating of “Buy” and a consensus target price 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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