Renaissance Technologies LLC acquired a new position in shares of SAGE Therapeutics Inc (NASDAQ:SAGE) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 22,931 shares of the biopharmaceutical company’s stock, valued at approximately $3,777,000.
Several other institutional investors have also bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of SAGE Therapeutics by 50.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,078 shares of the biopharmaceutical company’s stock worth $342,000 after buying an additional 700 shares during the last quarter. Amalgamated Bank boosted its stake in shares of SAGE Therapeutics by 16.9% during the 4th quarter. Amalgamated Bank now owns 5,147 shares of the biopharmaceutical company’s stock worth $848,000 after buying an additional 744 shares during the last quarter. Fortaleza Asset Management Inc. acquired a new position in shares of SAGE Therapeutics during the 4th quarter worth about $167,000. First Mercantile Trust Co. acquired a new position in shares of SAGE Therapeutics during the 4th quarter worth about $169,000. Finally, Envestnet Asset Management Inc. boosted its stake in shares of SAGE Therapeutics by 70.7% during the 3rd quarter. Envestnet Asset Management Inc. now owns 2,906 shares of the biopharmaceutical company’s stock worth $182,000 after buying an additional 1,204 shares during the last quarter. Institutional investors own 96.29% of the company’s stock.
Shares of SAGE stock opened at $148.01 on Friday. The stock has a market capitalization of $7,893.95, a PE ratio of -20.88 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 issued its earnings results on Thursday, February 22nd. The biopharmaceutical company reported ($1.75) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($1.98) by $0.23. During the same quarter in the prior year, the firm earned ($1.50) earnings per share. analysts predict that SAGE Therapeutics Inc will post -8.31 earnings per share for the current year.
A number of research firms have recently commented on SAGE. 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 and set a $202.00 price objective on shares of SAGE Therapeutics in a research note on Tuesday, March 20th. Morgan Stanley began coverage on shares of SAGE Therapeutics in a research note on Monday, February 26th. They set an “overweight” rating and a $225.00 price objective for the company. Finally, SunTrust Banks increased 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. The stock presently has an average rating of “Buy” and an average target price of $185.20.
In other news, Director Kevin P. Starr sold 59,000 shares of the company’s stock in a transaction dated Wednesday, April 18th. The shares were sold at an average price of $168.85, for a total value of $9,962,150.00. Following the sale, the director now directly owns 326,817 shares of the company’s stock, valued at approximately $55,183,050.45. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 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 completion of the sale, the director now directly owns 632,712 shares in the company, valued at $108,826,464. The disclosure for this sale can be found here. 6.10% of the stock is currently owned by corporate insiders.
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SAGE Therapeutics Company 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.
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