Jane Street Group LLC Decreases Stock Holdings in Sage Therapeutics, Inc. (NASDAQ:SAGE)

Jane Street Group LLC lessened its stake in Sage Therapeutics, Inc. (NASDAQ:SAGE) by 8.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 227,476 shares of the biopharmaceutical company’s stock after selling 20,549 shares during the period. Jane Street Group LLC’s holdings in Sage Therapeutics were worth $1,642,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Quest Partners LLC boosted its holdings in shares of Sage Therapeutics by 14.5% in the 2nd quarter. Quest Partners LLC now owns 11,763 shares of the biopharmaceutical company’s stock valued at $128,000 after buying an additional 1,486 shares in the last quarter. AdvisorShares Investments LLC boosted its position in shares of Sage Therapeutics by 13.6% in the 2nd quarter. AdvisorShares Investments LLC now owns 16,030 shares of the biopharmaceutical company’s stock worth $177,000 after purchasing an additional 1,918 shares in the last quarter. Headlands Technologies LLC grew its stake in Sage Therapeutics by 245.3% during the 2nd quarter. Headlands Technologies LLC now owns 3,916 shares of the biopharmaceutical company’s stock worth $43,000 after buying an additional 2,782 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its position in Sage Therapeutics by 66.1% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 11,742 shares of the biopharmaceutical company’s stock valued at $85,000 after buying an additional 4,672 shares in the last quarter. Finally, Pinnacle Associates Ltd. increased its position in Sage Therapeutics by 2.6% during the 2nd quarter. Pinnacle Associates Ltd. now owns 293,251 shares of the biopharmaceutical company’s stock valued at $3,185,000 after buying an additional 7,334 shares in the last quarter. 99.22% of the stock is currently owned by institutional investors.

Sage Therapeutics Trading Up 4.6 %

NASDAQ:SAGE opened at $5.73 on Friday. Sage Therapeutics, Inc. has a twelve month low of $4.62 and a twelve month high of $28.26. The company has a market cap of $350.52 million, a P/E ratio of -1.03 and a beta of 0.87. The company’s 50-day moving average price is $5.98 and its 200-day moving average price is $8.04.

Sage Therapeutics (NASDAQ:SAGE) last posted its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported ($1.53) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.52) by ($0.01). Sage Therapeutics had a negative net margin of 317.29% and a negative return on equity of 50.29%. The company had revenue of $11.87 million during the quarter, compared to analysts’ expectations of $10.80 million. During the same quarter last year, the company earned ($2.81) earnings per share. Sage Therapeutics’s revenue for the quarter was up 337.1% on a year-over-year basis. On average, analysts expect that Sage Therapeutics, Inc. will post -6.53 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Bank of America dropped their price target on Sage Therapeutics from $11.00 to $6.00 and set an “underperform” rating on the stock in a research note on Wednesday, October 9th. Robert W. Baird dropped their target price on shares of Sage Therapeutics from $13.00 to $9.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. Raymond James reaffirmed a “market perform” rating on shares of Sage Therapeutics in a report on Thursday, October 10th. Oppenheimer dropped their price objective on shares of Sage Therapeutics from $9.00 to $8.00 and set a “market perform” rating on the stock in a report on Wednesday, October 30th. Finally, TD Cowen cut their price objective on Sage Therapeutics from $10.00 to $9.00 and set a “hold” rating on the stock in a report on Thursday, November 21st. Three research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $11.53.

About Sage Therapeutics

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.