California State Teachers Retirement System raised its stake in SAGE Therapeutics Inc (NASDAQ:SAGE) by 2.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 71,529 shares of the biopharmaceutical company’s stock after purchasing an additional 1,614 shares during the period. California State Teachers Retirement System owned 0.15% of SAGE Therapeutics worth $6,852,000 as of its most recent SEC filing.
A number of other institutional investors also recently made changes to their positions in the business. M&R Capital Management Inc. acquired a new stake in shares of SAGE Therapeutics during the fourth quarter worth $28,000. Benjamin F. Edwards & Company Inc. acquired a new stake in SAGE Therapeutics in the fourth quarter valued at $29,000. Daiwa Securities Group Inc. lifted its holdings in SAGE Therapeutics by 34.8% in the fourth quarter. Daiwa Securities Group Inc. now owns 310 shares of the biopharmaceutical company’s stock valued at $30,000 after acquiring an additional 80 shares during the period. Creative Planning acquired a new stake in SAGE Therapeutics in the fourth quarter valued at $211,000. Finally, Pacer Advisors Inc. acquired a new stake in SAGE Therapeutics in the third quarter valued at $233,000.
SAGE Therapeutics stock traded down $2.94 during midday trading on Monday, hitting $167.66. 349,907 shares of the company were exchanged, compared to its average volume of 627,230. The firm has a market capitalization of $8.03 billion, a PE ratio of -20.75 and a beta of 2.91. SAGE Therapeutics Inc has a fifty-two week low of $79.88 and a fifty-two week high of $177.14.
A number of equities research analysts have commented on SAGE shares. Morgan Stanley reduced their target price on SAGE Therapeutics from $230.00 to $213.00 and set an “overweight” rating for the company in a report on Wednesday, December 19th. BidaskClub cut SAGE Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Saturday, December 22nd. ValuEngine cut SAGE Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, January 2nd. Guggenheim initiated coverage on SAGE Therapeutics in a report on Friday, February 22nd. They issued a “buy” rating and a $205.00 price target for the company. Finally, Canaccord Genuity set a $220.00 price objective on SAGE Therapeutics and gave the company a “buy” rating in a research note on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $201.45.
In other SAGE Therapeutics news, Director James M. Frates sold 7,500 shares of the business’s stock in a transaction on Wednesday, January 23rd. The stock was sold at an average price of $134.81, for a total transaction of $1,011,075.00. Following the completion of the transaction, the director now owns 11,735 shares in the company, valued at approximately $1,581,995.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Steven M. Paul sold 60,421 shares of the business’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $161.28, for a total value of $9,744,698.88. Following the transaction, the director now owns 272,777 shares of the company’s stock, valued at approximately $43,993,474.56. The disclosure for this sale can be found here. Insiders sold a total of 175,811 shares of company stock valued at $27,771,729 over the last quarter. Company insiders own 5.10% of the company’s stock.
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About SAGE Therapeutics
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).
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