AdvisorShares Investments LLC Decreases Position in Sage Therapeutics, Inc. (NASDAQ:SAGE)

AdvisorShares Investments LLC lessened its holdings in Sage Therapeutics, Inc. (NASDAQ:SAGE) by 18.6% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,362 shares of the biopharmaceutical company’s stock after selling 3,053 shares during the period. AdvisorShares Investments LLC’s holdings in Sage Therapeutics were worth $290,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. lifted its position in shares of Sage Therapeutics by 353.1% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 6,937 shares of the biopharmaceutical company’s stock worth $150,000 after purchasing an additional 5,406 shares during the last quarter. Quest Partners LLC purchased a new stake in shares of Sage Therapeutics during the 4th quarter worth $261,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Sage Therapeutics by 31.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,256 shares of the biopharmaceutical company’s stock worth $266,000 after purchasing an additional 2,967 shares during the last quarter. Handelsbanken Fonder AB lifted its position in shares of Sage Therapeutics by 29.8% during the 4th quarter. Handelsbanken Fonder AB now owns 12,644 shares of the biopharmaceutical company’s stock worth $274,000 after purchasing an additional 2,900 shares during the last quarter. Finally, Assenagon Asset Management S.A. purchased a new stake in shares of Sage Therapeutics during the 4th quarter worth $293,000. Hedge funds and other institutional investors own 99.22% of the company’s stock.

Sage Therapeutics Price Performance

Shares of NASDAQ SAGE traded down $0.19 on Friday, hitting $10.58. The company’s stock had a trading volume of 598,109 shares, compared to its average volume of 1,062,186. Sage Therapeutics, Inc. has a 12-month low of $10.44 and a 12-month high of $59.99. The company has a market capitalization of $636.73 million, a price-to-earnings ratio of -1.28 and a beta of 0.91. The stock has a 50 day moving average of $13.45 and a 200-day moving average of $19.25.

Sage Therapeutics (NASDAQ:SAGE) last announced its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.80) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.63) by ($0.17). Sage Therapeutics had a negative net margin of 552.52% and a negative return on equity of 56.81%. The business had revenue of $7.90 million during the quarter, compared to analysts’ expectations of $5.26 million. During the same period last year, the company earned ($2.46) EPS. The firm’s revenue for the quarter was up 139.4% on a year-over-year basis. Sell-side analysts expect that Sage Therapeutics, Inc. will post -6.47 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Morgan Stanley lifted their price target on shares of Sage Therapeutics from $20.00 to $22.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 28th. Baird R W upgraded shares of Sage Therapeutics to a “hold” rating in a research note on Wednesday, May 29th. Oppenheimer cut their price target on shares of Sage Therapeutics from $25.00 to $17.00 and set a “market perform” rating on the stock in a research note on Thursday, April 18th. Mizuho cut their price target on shares of Sage Therapeutics from $20.00 to $18.00 and set a “neutral” rating on the stock in a research note on Friday, April 26th. Finally, Truist Financial cut their price target on shares of Sage Therapeutics from $22.00 to $18.00 and set a “hold” rating on the stock in a research note on Friday, April 26th. Two equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Sage Therapeutics has a consensus rating of “Hold” and an average target price of $35.05.

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.