Bank of New York Mellon Corp Sells 9,655 Shares of Sage Therapeutics, Inc. (NASDAQ:SAGE)

Bank of New York Mellon Corp reduced its stake in Sage Therapeutics, Inc. (NASDAQ:SAGE) by 5.3% during the 4th quarter, Holdings Channel reports. The firm owned 171,444 shares of the biopharmaceutical company’s stock after selling 9,655 shares during the period. Bank of New York Mellon Corp’s holdings in Sage Therapeutics were worth $931,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. State Street Corp lifted its stake in Sage Therapeutics by 18.2% in the third quarter. State Street Corp now owns 2,926,239 shares of the biopharmaceutical company’s stock valued at $21,127,000 after buying an additional 451,377 shares during the period. RTW Investments LP increased its stake in shares of Sage Therapeutics by 2.0% in the 3rd quarter. RTW Investments LP now owns 5,591,700 shares of the biopharmaceutical company’s stock valued at $40,372,000 after acquiring an additional 111,123 shares during the last quarter. Algert Global LLC increased its stake in shares of Sage Therapeutics by 120.6% in the 3rd quarter. Algert Global LLC now owns 143,034 shares of the biopharmaceutical company’s stock valued at $1,033,000 after acquiring an additional 78,190 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Sage Therapeutics in the 3rd quarter valued at approximately $473,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in Sage Therapeutics by 10.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 452,193 shares of the biopharmaceutical company’s stock worth $3,265,000 after acquiring an additional 43,617 shares during the last quarter. 99.22% of the stock is owned by institutional investors and hedge funds.

Sage Therapeutics Stock Performance

NASDAQ SAGE opened at $8.53 on Wednesday. Sage Therapeutics, Inc. has a 52 week low of $4.62 and a 52 week high of $19.34. The stock’s 50 day moving average price is $7.39 and its two-hundred day moving average price is $6.71. The stock has a market capitalization of $524.43 million, a price-to-earnings ratio of -1.29 and a beta of 0.82.

Sage Therapeutics (NASDAQ:SAGE) last announced its quarterly earnings data on Tuesday, February 11th. The biopharmaceutical company reported ($1.56) EPS for the quarter, missing analysts’ consensus estimates of ($1.54) by ($0.02). Sage Therapeutics had a negative return on equity of 68.18% and a negative net margin of 971.50%. On average, equities research analysts forecast that Sage Therapeutics, Inc. will post -3.52 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have commented on SAGE. Needham & Company LLC reaffirmed a “hold” rating on shares of Sage Therapeutics in a research note on Wednesday, February 12th. Piper Sandler lowered their price objective on shares of Sage Therapeutics from $26.00 to $9.00 and set an “overweight” rating for the company in a research report on Thursday, January 2nd. HC Wainwright reaffirmed a “neutral” rating and set a $12.00 price objective (down previously from $14.00) on shares of Sage Therapeutics in a research note on Wednesday, February 12th. Scotiabank decreased their target price on Sage Therapeutics from $14.00 to $12.00 and set a “sector outperform” rating for the company in a research note on Wednesday, February 12th. Finally, Canaccord Genuity Group lowered their price target on Sage Therapeutics from $9.00 to $8.00 and set a “hold” rating for the company in a report on Wednesday, February 12th. Three research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $8.81.

Sage Therapeutics Profile

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.