Xact Kapitalforvaltning AB grew its stake in shares of SAGE Therapeutics Inc (NASDAQ:SAGE) by 65.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,044 shares of the biopharmaceutical company’s stock after buying an additional 2,400 shares during the quarter. Xact Kapitalforvaltning AB’s holdings in SAGE Therapeutics were worth $974,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently added to or reduced their stakes in SAGE. Comerica Bank bought a new stake in shares of SAGE Therapeutics in the 4th quarter worth approximately $242,000. Verition Fund Management LLC bought a new stake in shares of SAGE Therapeutics in the 1st quarter worth approximately $259,000. Zeke Capital Advisors LLC bought a new stake in shares of SAGE Therapeutics in the 4th quarter worth approximately $321,000. NJ State Employees Deferred Compensation Plan bought a new stake in shares of SAGE Therapeutics in the 1st quarter worth approximately $322,000. Finally, Oppenheimer Asset Management Inc. bought a new stake in shares of SAGE Therapeutics in the 1st quarter worth approximately $335,000.
In related news, Director Kevin P. Starr sold 59,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 18th. The shares were sold at an average price of $168.85, for a total transaction of $9,962,150.00. Following the transaction, the director now directly owns 326,817 shares of the company’s stock, valued at $55,183,050.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kimi Iguchi sold 28,153 shares of the business’s stock in a transaction that occurred on Wednesday, April 25th. The shares were sold at an average price of $142.73, for a total transaction of $4,018,277.69. Following the transaction, the chief financial officer now directly owns 63,499 shares in the company, valued at $9,063,212.27. The disclosure for this sale can be found here. Insiders have sold 106,288 shares of company stock worth $16,811,692 over the last ninety days. 5.10% of the stock is currently owned by insiders.
A number of research firms recently commented on SAGE. Canaccord Genuity reiterated a “buy” rating and issued a $220.00 target price on shares of SAGE Therapeutics in a report on Tuesday, June 12th. BidaskClub raised shares of SAGE Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, March 7th. Cowen reissued a “buy” rating and issued a $207.00 target price on shares of SAGE Therapeutics in a research report on Thursday, June 14th. LADENBURG THALM/SH SH started coverage on shares of SAGE Therapeutics in a research report on Wednesday, June 6th. They issued a “buy” rating and a $230.00 target price on the stock. Finally, ValuEngine raised shares of SAGE Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, May 2nd. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $188.94.
SAGE Therapeutics stock opened at $156.53 on Friday. SAGE Therapeutics Inc has a fifty-two week low of $59.57 and a fifty-two week high of $195.97. The company has a market capitalization of $7.05 billion, a PE ratio of -22.08 and a beta of 3.04.
SAGE Therapeutics (NASDAQ:SAGE) last announced its quarterly earnings data on Thursday, May 3rd. The biopharmaceutical company reported ($1.68) EPS for the quarter, beating the Zacks’ consensus estimate of ($1.84) by $0.16. During the same quarter in the previous year, the company earned ($1.52) EPS. research analysts predict that SAGE Therapeutics Inc will post -8.52 EPS for the current year.
About SAGE Therapeutics
Sage Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops and commercializes novel medicines to treat central nervous system disorders. Its lead product candidate comprises brexanolone, a proprietary intravenous formulation of allopregnanolone that has completed III clinical trials for the treatment of post-partum depression (PPD).
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