Edgestream Partners L.P. Invests $1.29 Million in Sage Therapeutics, Inc. (NASDAQ:SAGE)

Edgestream Partners L.P. acquired a new position in shares of Sage Therapeutics, Inc. (NASDAQ:SAGE) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 27,349 shares of the biopharmaceutical company’s stock, valued at approximately $1,286,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Hanseatic Management Services Inc. bought a new position in shares of Sage Therapeutics during the 2nd quarter worth about $34,000. MetLife Investment Management LLC bought a new position in shares of Sage Therapeutics during the 1st quarter worth about $34,000. Headlands Technologies LLC bought a new position in shares of Sage Therapeutics during the 2nd quarter worth about $115,000. Tower Research Capital LLC TRC increased its position in shares of Sage Therapeutics by 257.1% during the 1st quarter. Tower Research Capital LLC TRC now owns 3,103 shares of the biopharmaceutical company’s stock worth $130,000 after purchasing an additional 2,234 shares in the last quarter. Finally, Dark Forest Capital Management LP acquired a new stake in shares of Sage Therapeutics during the 1st quarter worth about $134,000. 89.68% of the stock is owned by institutional investors.

Sage Therapeutics Price Performance

Sage Therapeutics stock opened at $19.72 on Tuesday. Sage Therapeutics, Inc. has a fifty-two week low of $16.51 and a fifty-two week high of $59.99. The company’s 50 day simple moving average is $19.61 and its 200 day simple moving average is $33.26. The firm has a market capitalization of $1.18 billion, a price-to-earnings ratio of -1.80 and a beta of 1.12.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Barclays dropped their target price on shares of Sage Therapeutics from $311.00 to $294.00 in a research report on Monday, August 7th. StockNews.com upgraded shares of Sage Therapeutics to a “sell” rating in a research report on Monday, October 30th. Stifel Nicolaus cut shares of Sage Therapeutics from a “buy” rating to a “hold” rating and lowered their price objective for the company from $60.00 to $22.00 in a research report on Monday, August 7th. HC Wainwright lowered their price objective on shares of Sage Therapeutics from $50.00 to $27.00 in a research report on Tuesday, August 8th. Finally, Wedbush raised their price objective on shares of Sage Therapeutics from $21.00 to $22.00 and gave the company a “neutral” rating in a research report on Wednesday, November 8th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $43.78.

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; zuranolone, a neuroactive steroid, which has completed Phase III clinical trials for treating PPD and major depressive disorders, as well as is in Phase II clinical trials for treatment resistant depression, generalized anxiety disorders, and bipolar depression; and SAGE-324, a compound that is in Phase II clinical trial to treat essential tremors, as well as has completed Phase I clinical trial for epilepsy and Parkinson's diseases.