Sage Therapeutics, Inc. (NASDAQ:SAGE) Sees Large Decrease in Short Interest

Sage Therapeutics, Inc. (NASDAQ:SAGE) saw a large decrease in short interest during the month of December. As of December 31st, there was short interest totalling 4,830,000 shares, a decrease of 24.6% from the December 15th total of 6,410,000 shares. Approximately 9.0% of the company’s shares are short sold. Based on an average daily volume of 1,030,000 shares, the short-interest ratio is presently 4.7 days.

Hedge Funds Weigh In On Sage Therapeutics

Several hedge funds have recently made changes to their positions in SAGE. RTW Investments LP lifted its position in Sage Therapeutics by 2.0% during the third quarter. RTW Investments LP now owns 5,591,700 shares of the biopharmaceutical company’s stock valued at $40,372,000 after purchasing an additional 111,123 shares during the period. State Street Corp raised its stake in shares of Sage Therapeutics by 18.2% during the 3rd 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 last quarter. Geode Capital Management LLC lifted its holdings in shares of Sage Therapeutics by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,242,854 shares of the biopharmaceutical company’s stock valued at $8,975,000 after buying an additional 3,757 shares during the period. Federated Hermes Inc. purchased a new stake in shares of Sage Therapeutics in the second quarter worth about $7,281,000. Finally, Renaissance Technologies LLC boosted its stake in shares of Sage Therapeutics by 1,476.6% in the second quarter. Renaissance Technologies LLC now owns 553,396 shares of the biopharmaceutical company’s stock worth $6,010,000 after buying an additional 518,296 shares during the last quarter. 99.22% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Truist Financial decreased their price objective on shares of Sage Therapeutics from $13.00 to $8.00 and set a “hold” rating for the company in a research note on Wednesday, October 30th. Needham & Company LLC reissued a “hold” rating on shares of Sage Therapeutics in a research note on Wednesday, November 20th. Wedbush dropped their price objective on Sage Therapeutics from $9.00 to $8.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. StockNews.com lowered Sage Therapeutics from a “hold” rating to a “sell” rating in a research note on Thursday, October 31st. Finally, Oppenheimer lowered their target price on shares of Sage Therapeutics from $9.00 to $8.00 and set a “market perform” rating for the company in a research note on Wednesday, October 30th. Three equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $10.53.

Sage Therapeutics Stock Performance

Sage Therapeutics stock traded up $0.11 during mid-day trading on Friday, reaching $7.08. 4,917,688 shares of the company were exchanged, compared to its average volume of 3,616,735. Sage Therapeutics has a 12-month low of $4.62 and a 12-month high of $27.67. The business has a fifty day moving average of $5.69 and a 200 day moving average of $7.50. The firm has a market cap of $433.08 million, a P/E ratio of -1.27 and a beta of 0.91.

Sage Therapeutics (NASDAQ:SAGE) last posted its earnings results on Tuesday, October 29th. The biopharmaceutical company reported ($1.53) EPS for the quarter, missing analysts’ consensus estimates of ($1.52) by ($0.01). The firm had revenue of $11.87 million for the quarter, compared to analysts’ expectations of $10.80 million. Sage Therapeutics had a negative net margin of 317.29% and a negative return on equity of 50.29%. The company’s revenue was up 337.1% on a year-over-year basis. During the same period in the previous year, the company earned ($2.81) EPS. Sell-side analysts predict that Sage Therapeutics will post -6.45 EPS for the current year.

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.