Quantitative Systematic Strategies LLC Takes $554,000 Position in SAGE Therapeutics Inc (NASDAQ:SAGE)

Quantitative Systematic Strategies LLC purchased a new stake in SAGE Therapeutics Inc (NASDAQ:SAGE) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 3,028 shares of the biopharmaceutical company’s stock, valued at approximately $554,000.

Several other institutional investors have also recently bought and sold shares of SAGE. State of New Jersey Common Pension Fund D boosted its position in shares of SAGE Therapeutics by 200.0% during the 1st quarter. State of New Jersey Common Pension Fund D now owns 15,000 shares of the biopharmaceutical company’s stock worth $2,386,000 after purchasing an additional 10,000 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of SAGE Therapeutics by 40.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 109,054 shares of the biopharmaceutical company’s stock worth $10,441,000 after purchasing an additional 31,571 shares during the period. DekaBank Deutsche Girozentrale boosted its position in shares of SAGE Therapeutics by 127.4% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 49,944 shares of the biopharmaceutical company’s stock worth $8,233,000 after purchasing an additional 27,980 shares during the period. Norges Bank purchased a new position in shares of SAGE Therapeutics during the 4th quarter worth approximately $33,075,000. Finally, Metropolitan Life Insurance Co NY boosted its position in shares of SAGE Therapeutics by 5.0% during the 1st quarter. Metropolitan Life Insurance Co NY now owns 3,670 shares of the biopharmaceutical company’s stock worth $583,000 after purchasing an additional 174 shares during the period.

In other SAGE Therapeutics news, CEO Jeffrey M. Jonas sold 94,264 shares of the stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $174.75, for a total transaction of $16,472,634.00. Following the sale, the chief executive officer now directly owns 116,023 shares in the company, valued at approximately $20,275,019.25. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Jeffrey M. Jonas sold 84,661 shares of the stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $174.83, for a total transaction of $14,801,282.63. Following the sale, the chief executive officer now owns 97,851 shares in the company, valued at $17,107,290.33. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 218,925 shares of company stock worth $38,141,017. 4.60% of the stock is owned by company insiders.

A number of equities analysts recently weighed in on the stock. Wedbush assumed coverage on shares of SAGE Therapeutics in a research report on Wednesday, May 22nd. They set an “outperform” rating and a $207.00 price objective for the company. William Blair reaffirmed a “buy” rating on shares of SAGE Therapeutics in a research report on Wednesday, July 24th. Raymond James reaffirmed a “market perform” rating on shares of SAGE Therapeutics in a research report on Friday, April 26th. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of SAGE Therapeutics in a research report on Wednesday, July 24th. Finally, LADENBURG THALM/SH SH set a $220.00 price objective on shares of SAGE Therapeutics and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Two analysts have rated the stock with a sell rating, one has given a hold rating and fourteen have given a buy rating to the stock. SAGE Therapeutics currently has an average rating of “Buy” and an average price target of $204.33.

SAGE Therapeutics stock traded up $4.79 during mid-day trading on Wednesday, reaching $167.13. 5,337 shares of the company’s stock were exchanged, compared to its average volume of 402,957. The firm has a market capitalization of $8.22 billion, a P/E ratio of -20.69 and a beta of 2.53. SAGE Therapeutics Inc has a twelve month low of $79.88 and a twelve month high of $193.56. The company has a current ratio of 20.06, a quick ratio of 20.06 and a debt-to-equity ratio of 0.03. The stock’s fifty day simple moving average is $176.97.

SAGE Therapeutics (NASDAQ:SAGE) last released its earnings results on Tuesday, August 6th. The biopharmaceutical company reported ($3.28) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($3.32) by $0.04. The business had revenue of $0.87 million for the quarter, compared to analyst estimates of $0.27 million. SAGE Therapeutics’s quarterly revenue was down 99.0% compared to the same quarter last year. During the same quarter last year, the company earned ($0.36) earnings per share. Equities research analysts forecast that SAGE Therapeutics Inc will post -13.19 earnings per share for the current year.

SAGE Therapeutics Profile

Sage Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops and commercializes novel medicines to treat central nervous system (CNS) disorders. Its lead product candidate is ZULRESSO, a proprietary intravenous formulation of brexanolone that has completed Phase III clinical trials for the treatment of postpartum depression (PPD).

Featured Story: What are the benefits of investing in REITs?

Want to see what other hedge funds are holding SAGE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SAGE Therapeutics Inc (NASDAQ:SAGE).

Institutional Ownership by Quarter for SAGE Therapeutics (NASDAQ:SAGE)

Receive News & Ratings for SAGE Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SAGE Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.