Entropy Technologies LP Sells 6,699 Shares of Sage Therapeutics, Inc. (NASDAQ:SAGE)

Entropy Technologies LP lowered its holdings in Sage Therapeutics, Inc. (NASDAQ:SAGE) by 30.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,444 shares of the biopharmaceutical company’s stock after selling 6,699 shares during the period. Entropy Technologies LP’s holdings in Sage Therapeutics were worth $112,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bellevue Group AG increased its position in shares of Sage Therapeutics by 27.1% during the 1st quarter. Bellevue Group AG now owns 4,465,544 shares of the biopharmaceutical company’s stock worth $83,684,000 after purchasing an additional 952,193 shares during the last quarter. Federated Hermes Inc. bought a new position in shares of Sage Therapeutics in the second quarter valued at $7,281,000. Renaissance Technologies LLC increased its holdings in Sage Therapeutics by 1,476.6% during 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. Cubist Systematic Strategies LLC increased its holdings in Sage Therapeutics by 831.2% during the second quarter. Cubist Systematic Strategies LLC now owns 489,089 shares of the biopharmaceutical company’s stock worth $5,312,000 after buying an additional 436,566 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in Sage Therapeutics by 8.1% during the first quarter. Vanguard Group Inc. now owns 5,751,373 shares of the biopharmaceutical company’s stock worth $107,781,000 after acquiring an additional 432,013 shares in the last quarter. 99.22% of the stock is currently owned by institutional investors and hedge funds.

Sage Therapeutics Stock Performance

SAGE opened at $5.10 on Monday. Sage Therapeutics, Inc. has a 52-week low of $5.03 and a 52-week high of $28.26. The firm has a market cap of $311.98 million, a P/E ratio of -0.91 and a beta of 0.92. The business’s fifty day moving average is $6.96 and its 200-day moving average is $9.31.

Sage Therapeutics (NASDAQ:SAGE) last released its earnings results on Tuesday, October 29th. The biopharmaceutical company reported ($1.53) EPS for the quarter, missing the consensus estimate of ($1.52) by ($0.01). The firm had revenue of $11.87 million during the quarter, compared to the consensus estimate of $10.80 million. Sage Therapeutics had a negative net margin of 317.29% and a negative return on equity of 50.29%. Sage Therapeutics’s quarterly revenue was up 337.1% compared to the same quarter last year. During the same period in the prior year, the business earned ($2.81) earnings per share. On average, research analysts predict that Sage Therapeutics, Inc. will post -6.48 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Needham & Company LLC reissued a “hold” rating on shares of Sage Therapeutics in a research report on Wednesday, October 30th. Wedbush lowered their price target on Sage Therapeutics from $9.00 to $8.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. Truist Financial reduced their target price on Sage Therapeutics from $13.00 to $8.00 and set a “hold” rating for the company in a research note on Wednesday, October 30th. TD Cowen cut Sage Therapeutics from a “buy” rating to a “hold” rating and dropped their price target for the company from $16.00 to $10.00 in a research note on Tuesday, July 30th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $26.00 price objective (down from $52.00) on shares of Sage Therapeutics in a report on Wednesday, October 30th. Three analysts have rated the stock with a sell rating, seventeen have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Sage Therapeutics has a consensus rating of “Hold” and a consensus target price of $12.89.

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.