Sage Therapeutics, Inc. (NASDAQ:SAGE) Short Interest Down 27.3% in June

Sage Therapeutics, Inc. (NASDAQ:SAGE) was the recipient of a significant decrease in short interest in the month of June. As of June 30th, there was short interest totalling 5,670,000 shares, a decrease of 27.3% from the June 15th total of 7,800,000 shares. Based on an average daily volume of 1,290,000 shares, the days-to-cover ratio is currently 4.4 days. Approximately 11.5% of the company’s shares are sold short.

Hedge Funds Weigh In On Sage Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Wellington Management Group LLP grew its position in Sage Therapeutics by 3.3% in the 3rd quarter. Wellington Management Group LLP now owns 6,572,260 shares of the biopharmaceutical company’s stock valued at $135,257,000 after buying an additional 208,630 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Sage Therapeutics by 8.1% during the 1st quarter. Vanguard Group Inc. now owns 5,751,373 shares of the biopharmaceutical company’s stock worth $107,781,000 after purchasing an additional 432,013 shares in the last quarter. RTW Investments LP boosted its position in shares of Sage Therapeutics by 0.9% during the 4th quarter. RTW Investments LP now owns 5,197,019 shares of the biopharmaceutical company’s stock worth $112,619,000 after purchasing an additional 47,537 shares in the last quarter. Bellevue Group AG boosted 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 in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Sage Therapeutics by 69.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 811,934 shares of the biopharmaceutical company’s stock worth $15,217,000 after purchasing an additional 333,805 shares in the last quarter. 99.22% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. HC Wainwright reaffirmed a “neutral” rating and set a $25.00 target price on shares of Sage Therapeutics in a research note on Tuesday, July 2nd. Truist Financial lowered their price objective on shares of Sage Therapeutics from $22.00 to $18.00 and set a “hold” rating for the company in a research note on Friday, April 26th. StockNews.com raised shares of Sage Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, April 27th. Oppenheimer reduced their target price on shares of Sage Therapeutics from $25.00 to $17.00 and set a “market perform” rating on the stock in a report on Thursday, April 18th. Finally, TD Cowen cut their price objective on shares of Sage Therapeutics from $30.00 to $16.00 and set a “buy” rating on the stock in a report on Thursday, April 18th. Two analysts have rated the stock with a sell rating, sixteen have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $34.55.

Sage Therapeutics Stock Performance

NASDAQ:SAGE traded down $0.08 during midday trading on Monday, reaching $11.68. The stock had a trading volume of 136,884 shares, compared to its average volume of 1,107,627. The firm has a fifty day simple moving average of $11.36 and a two-hundred day simple moving average of $17.48. Sage Therapeutics has a 12-month low of $9.76 and a 12-month high of $47.78.

Sage Therapeutics (NASDAQ:SAGE) last posted its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($1.80) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.63) by ($0.17). Sage Therapeutics had a negative net margin of 552.52% and a negative return on equity of 56.81%. The firm had revenue of $7.90 million during the quarter, compared to analysts’ expectations of $5.26 million. During the same quarter last year, the business earned ($2.46) earnings per share. The business’s quarterly revenue was up 139.4% on a year-over-year basis. On average, sell-side analysts expect that Sage Therapeutics will post -6.51 EPS for the current year.

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.