Assenagon Asset Management S.A. Acquires 6,897 Shares of Sage Therapeutics, Inc. (NASDAQ:SAGE)

Posted by on Jul 5th, 2023

Assenagon Asset Management S.A. grew its holdings in Sage Therapeutics, Inc. (NASDAQ:SAGE – Free Report) by 7.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 103,731 shares of the biopharmaceutical company’s stock after purchasing an additional 6,897 shares during the period. Assenagon Asset Management S.A. owned approximately 0.17% of Sage Therapeutics worth $4,353,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of SAGE. MetLife Investment Management LLC bought a new position in shares of Sage Therapeutics in the 1st quarter valued at $34,000. Exchange Traded Concepts LLC boosted its holdings in shares of Sage Therapeutics by 33.2% during the 4th quarter. Exchange Traded Concepts LLC now owns 3,663 shares of the biopharmaceutical company’s stock valued at $140,000 after acquiring an additional 914 shares in the last quarter. Neo Ivy Capital Management acquired a new stake in shares of Sage Therapeutics during the 4th quarter valued at $194,000. Sei Investments Co. acquired a new stake in shares of Sage Therapeutics during the 2nd quarter valued at $231,000. Finally, Thrivent Financial for Lutherans acquired a new stake in shares of Sage Therapeutics during the 3rd quarter valued at $240,000. Institutional investors own 92.97% of the company’s stock.

Sage Therapeutics Price Performance

Shares of Sage Therapeutics stock opened at $48.17 on Wednesday. Sage Therapeutics, Inc. has a one year low of $31.45 and a one year high of $59.99. The firm has a market capitalization of $2.88 billion, a price-to-earnings ratio of -5.14 and a beta of 1.12. The business has a 50-day simple moving average of $51.52 and a 200 day simple moving average of $45.84.

Sage Therapeutics (NASDAQ:SAGE – Free Report) last issued its earnings results on Tuesday, May 2nd. The biopharmaceutical company reported ($2.46) EPS for the quarter, beating analysts’ consensus estimates of ($2.50) by $0.04. Sage Therapeutics had a negative return on equity of 42.32% and a negative net margin of 5,932.09%. The business had revenue of $3.30 million during the quarter, compared to analyst estimates of $2.28 million. During the same period in the previous year, the company posted ($2.07) EPS. The firm’s revenue was up 120.0% compared to the same quarter last year. On average, sell-side analysts expect that Sage Therapeutics, Inc. will post -8.04 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on SAGE shares. VNET Group reissued a “maintains” rating on shares of Sage Therapeutics in a report on Wednesday, May 3rd. StockNews.com initiated coverage on Sage Therapeutics in a report on Thursday, May 18th. They set a “hold” rating on the stock. Royal Bank of Canada lifted their target price on Sage Therapeutics from $60.00 to $63.00 in a report on Wednesday, May 3rd. HC Wainwright reaffirmed a “neutral” rating and set a $50.00 target price on shares of Sage Therapeutics in a report on Thursday, March 9th. Finally, Bank of America lifted their target price on Sage Therapeutics from $61.00 to $66.00 in a report on Thursday, June 15th. Nine research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $51.92.

Insider Activity at Sage Therapeutics

In related news, Director Elizabeth Barrett acquired 1,000 shares of the firm’s stock in a transaction on Tuesday, May 9th. The stock was purchased at an average cost of $50.50 per share, with a total value of $50,500.00. Following the acquisition, the director now owns 1,000 shares of the company’s stock, valued at approximately $50,500. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. 5.30% of the stock is currently owned by corporate insiders.

Sage Therapeutics Company Profile

(Free Report)

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; zuranolone, a neuroactive steroid, which has completed Phase III clinical trials for treating PPD and major depressive disorders, as well as is in Phase II clinical trials for treatment resistant depression, generalized anxiety disorders, and bipolar depression; and SAGE-324, a compound that is in Phase II clinical trial to treat essential tremors, as well as has completed Phase I clinical trial for epilepsy and Parkinson's diseases.

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

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