Shell Asset Management Co. Sells 1,556 Shares of Sage Therapeutics, Inc. (NASDAQ:SAGE)

Shell Asset Management Co. trimmed its holdings in Sage Therapeutics, Inc. (NASDAQ:SAGE – Get Rating) by 17.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,405 shares of the biopharmaceutical company’s stock after selling 1,556 shares during the period. Shell Asset Management Co.’s holdings in Sage Therapeutics were worth $282,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. MetLife Investment Management LLC purchased a new stake in Sage Therapeutics during the first quarter worth about $34,000. Great West Life Assurance Co. Can bought a new stake in Sage Therapeutics during the third quarter valued at approximately $98,000. Exchange Traded Concepts LLC lifted its position in Sage Therapeutics by 33.2% during the fourth quarter. Exchange Traded Concepts LLC now owns 3,663 shares of the biopharmaceutical company’s stock valued at $140,000 after purchasing an additional 914 shares during the last quarter. Arete Wealth Advisors LLC bought a new stake in Sage Therapeutics during the fourth quarter valued at approximately $473,449,240,000. Finally, Thrivent Financial for Lutherans bought a new stake in shares of Sage Therapeutics in the 3rd quarter worth approximately $240,000. 85.60% of the stock is owned by institutional investors.

Sage Therapeutics Price Performance

Shares of Sage Therapeutics stock opened at $51.47 on Tuesday. The stock has a market cap of $3.08 billion, a price-to-earnings ratio of -5.49 and a beta of 1.16. The firm’s 50-day moving average is $44.14 and its 200 day moving average is $41.67. Sage Therapeutics, Inc. has a 1 year low of $27.36 and a 1 year high of $51.47.

Sage Therapeutics (NASDAQ:SAGE – Get Rating) last issued its quarterly earnings data on Tuesday, May 2nd. The biopharmaceutical company reported ($2.46) earnings per share for the quarter, topping the consensus estimate of ($2.50) by $0.04. The firm had revenue of $3.30 million for the quarter, compared to analysts’ expectations of $2.28 million. Sage Therapeutics had a negative net margin of 5,932.09% and a negative return on equity of 42.32%. The business’s quarterly revenue was up 120.0% on a year-over-year basis. During the same quarter in the prior year, the business earned ($2.07) EPS. On average, equities analysts expect that Sage Therapeutics, Inc. will post -8.15 EPS for the current fiscal year.

Insider Buying and Selling at Sage Therapeutics

In other Sage Therapeutics news, Director Jeffrey M. Jonas sold 11,643 shares of the stock in a transaction that occurred on Friday, February 10th. The shares were sold at an average price of $44.61, for a total transaction of $519,394.23. Following the completion of the sale, the director now directly owns 121,981 shares of the company’s stock, valued at approximately $5,441,572.41. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 4.80% of the company’s stock.

Analyst Upgrades and Downgrades

SAGE has been the subject of a number of recent research reports. HC Wainwright restated a “neutral” rating and issued a $50.00 price objective on shares of Sage Therapeutics in a report on Thursday, March 9th. Mizuho boosted their price objective on shares of Sage Therapeutics from $37.00 to $45.00 and gave the stock a “neutral” rating in a report on Friday, February 17th. StockNews.com upgraded shares of Sage Therapeutics from a “sell” rating to a “hold” rating in a report on Monday, May 1st. VNET Group restated a “maintains” rating on shares of Sage Therapeutics in a report on Wednesday, May 3rd. Finally, Royal Bank of Canada boosted their price objective on shares of Sage Therapeutics from $60.00 to $63.00 in a report on Wednesday, May 3rd. Nine analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Sage Therapeutics presently has a consensus rating of “Hold” and an average target price of $52.46.

Sage Therapeutics Company Profile

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SAGE Therapeutics, Inc is a biopharmaceutical company, which engages in the development and commercialization of novel medicines. It targets diseases and disorders of the brain with three key focus areas: depression, neurology, and neuropsychiatry. The company was founded by Steven Marc Paul and Douglas Covey on April 16, 2010, and is headquartered in Cambridge, MA.