Dark Forest Capital Management LP Makes New Investment in Sage Therapeutics, Inc. (NASDAQ:SAGE)

Dark Forest Capital Management LP acquired a new stake in shares of Sage Therapeutics, Inc. (NASDAQ:SAGE) in the 2nd quarter, Holdings Channel reports. The firm acquired 22,245 shares of the biopharmaceutical company’s stock, valued at approximately $242,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Headlands Technologies LLC lifted its holdings in shares of Sage Therapeutics by 245.3% in the 2nd quarter. Headlands Technologies LLC now owns 3,916 shares of the biopharmaceutical company’s stock valued at $43,000 after acquiring an additional 2,782 shares during the last quarter. Lazard Asset Management LLC bought a new stake in shares of Sage Therapeutics in the 1st quarter valued at approximately $127,000. Virtu Financial LLC purchased a new position in shares of Sage Therapeutics in the 1st quarter worth approximately $187,000. China Universal Asset Management Co. Ltd. increased its position in shares of Sage Therapeutics by 66.6% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 11,554 shares of the biopharmaceutical company’s stock valued at $217,000 after purchasing an additional 4,617 shares during the last quarter. Finally, Quest Partners LLC raised its holdings in Sage Therapeutics by 14.5% during the 2nd quarter. Quest Partners LLC now owns 11,763 shares of the biopharmaceutical company’s stock valued at $128,000 after buying an additional 1,486 shares during the period. 99.22% of the stock is owned by hedge funds and other institutional investors.

Sage Therapeutics Price Performance

SAGE stock opened at $7.29 on Monday. Sage Therapeutics, Inc. has a 1-year low of $6.98 and a 1-year high of $28.26. The business has a 50-day moving average price of $8.53 and a 200 day moving average price of $11.74. The company has a market capitalization of $445.05 million, a P/E ratio of -0.87 and a beta of 0.91.

Sage Therapeutics (NASDAQ:SAGE) last posted its quarterly earnings results on Wednesday, July 31st. The biopharmaceutical company reported ($1.70) EPS for the quarter, missing the consensus estimate of ($1.68) by ($0.02). Sage Therapeutics had a negative net margin of 458.30% and a negative return on equity of 55.87%. The business had revenue of $8.65 million during the quarter, compared to the consensus estimate of $8.85 million. During the same quarter in the prior year, the firm posted ($2.68) EPS. The company’s revenue for the quarter was up 249.8% compared to the same quarter last year. On average, analysts anticipate that Sage Therapeutics, Inc. will post -6.47 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

SAGE has been the subject of several recent analyst reports. HC Wainwright reaffirmed a “neutral” rating and set a $25.00 price objective on shares of Sage Therapeutics in a research note on Friday, August 2nd. Mizuho cut their price target on shares of Sage Therapeutics from $18.00 to $16.00 and set a “neutral” rating on the stock in a report on Friday, July 19th. JPMorgan Chase & Co. decreased their price objective on shares of Sage Therapeutics from $12.00 to $10.00 and set a “neutral” rating for the company in a research note on Tuesday, August 6th. Needham & Company LLC restated a “hold” rating on shares of Sage Therapeutics in a research report on Thursday, August 1st. Finally, TD Cowen downgraded Sage Therapeutics from a “buy” rating to a “hold” rating and reduced their price target for the stock from $16.00 to $10.00 in a report on Tuesday, July 30th. Two research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Sage Therapeutics has an average rating of “Hold” and a consensus target price of $16.06.

Sage Therapeutics 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.