Sage Therapeutics, Inc. (NASDAQ:SAGE) Short Interest Update

Sage Therapeutics, Inc. (NASDAQ:SAGE) was the target of a large growth in short interest during the month of January. As of January 15th, there was short interest totalling 6,130,000 shares, a growth of 26.9% from the December 31st total of 4,830,000 shares. Based on an average daily volume of 1,590,000 shares, the short-interest ratio is currently 3.9 days. Approximately 11.7% of the company’s stock are short sold.

Wall Street Analyst Weigh In

SAGE has been the subject of a number of analyst reports. Stifel Nicolaus lowered their price target on Sage Therapeutics from $10.00 to $6.00 and set a “hold” rating for the company in a research report on Monday, December 16th. Wedbush lowered their target price on shares of Sage Therapeutics from $9.00 to $8.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. HC Wainwright restated a “neutral” rating and set a $14.00 price target on shares of Sage Therapeutics in a report on Wednesday, November 20th. TD Cowen decreased their price objective on shares of Sage Therapeutics from $10.00 to $9.00 and set a “hold” rating for the company in a research note on Thursday, November 21st. Finally, Royal Bank of Canada upgraded Sage Therapeutics from an “underperform” rating to a “sector perform” rating and set a $4.00 target price on the stock in a research note on Thursday, November 21st. Three equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $10.53.

Sage Therapeutics Price Performance

Shares of Sage Therapeutics stock traded up $0.01 during trading hours on Monday, reaching $7.26. The company had a trading volume of 1,406,333 shares, compared to its average volume of 2,736,216. The firm has a market cap of $444.09 million, a PE ratio of -1.30 and a beta of 0.94. Sage Therapeutics has a one year low of $4.62 and a one year high of $27.39. The business has a fifty day simple moving average of $6.07 and a 200 day simple moving average of $7.15.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in SAGE. RTW Investments LP grew its position in shares of Sage Therapeutics by 2.0% during the 3rd quarter. RTW Investments LP now owns 5,591,700 shares of the biopharmaceutical company’s stock valued at $40,372,000 after purchasing an additional 111,123 shares in the last quarter. State Street Corp increased its stake in Sage Therapeutics by 18.2% in the 3rd quarter. State Street Corp now owns 2,926,239 shares of the biopharmaceutical company’s stock worth $21,127,000 after acquiring an additional 451,377 shares during the last quarter. Geode Capital Management LLC increased its stake in Sage Therapeutics by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,242,854 shares of the biopharmaceutical company’s stock worth $8,975,000 after acquiring an additional 3,757 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Sage Therapeutics by 10.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 452,193 shares of the biopharmaceutical company’s stock worth $3,265,000 after acquiring an additional 43,617 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in shares of Sage Therapeutics by 11.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 186,039 shares of the biopharmaceutical company’s stock valued at $1,343,000 after acquiring an additional 18,814 shares during the last quarter. Institutional investors own 99.22% of the company’s stock.

Sage Therapeutics Company Profile

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.