Sage Therapeutics, Inc. (NASDAQ:SAGE) Sees Significant Increase in Short Interest

Sage Therapeutics, Inc. (NASDAQ:SAGE) saw a significant increase in short interest in the month of January. As of January 15th, there was short interest totalling 6,130,000 shares, an increase 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 presently 3.9 days. Currently, 11.7% of the shares of the company are short sold.

Analyst Ratings Changes

SAGE has been the topic of several research reports. Royal Bank of Canada upgraded shares of Sage Therapeutics from an “underperform” rating to a “sector perform” rating and set a $4.00 price target on the stock in a research note on Thursday, November 21st. Truist Financial lowered their target price on shares of Sage Therapeutics from $13.00 to $8.00 and set a “hold” rating on the stock in a report on Wednesday, October 30th. Oppenheimer cut their price target on Sage Therapeutics from $9.00 to $8.00 and set a “market perform” rating for the company in a research note on Wednesday, October 30th. Needham & Company LLC restated a “hold” rating on shares of Sage Therapeutics in a research note on Wednesday, November 20th. Finally, HC Wainwright reiterated a “neutral” rating and set a $14.00 target price on shares of Sage Therapeutics in a research report on Wednesday, November 20th. Three analysts have rated the stock with a sell rating, sixteen have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Sage Therapeutics presently has a consensus rating of “Hold” and an average target price of $10.53.

Sage Therapeutics Stock Up 0.1 %

Sage Therapeutics stock traded up $0.01 during trading hours on Monday, reaching $7.26. 1,406,333 shares of the company’s stock were exchanged, compared to its average volume of 2,736,216. The firm’s 50 day simple moving average is $6.07 and its 200 day simple moving average is $7.15. Sage Therapeutics has a twelve month low of $4.62 and a twelve month high of $27.39. The firm has a market capitalization of $444.09 million, a PE ratio of -1.30 and a beta of 0.94.

Hedge Funds Weigh In On Sage Therapeutics

Institutional investors have recently added to or reduced their stakes in the business. State Street Corp grew its stake in shares of Sage Therapeutics by 18.2% in the 3rd quarter. State Street Corp now owns 2,926,239 shares of the biopharmaceutical company’s stock valued at $21,127,000 after buying an additional 451,377 shares during the period. RTW Investments LP grew its stake in Sage Therapeutics by 2.0% in the third quarter. RTW Investments LP now owns 5,591,700 shares of the biopharmaceutical company’s stock valued at $40,372,000 after acquiring an additional 111,123 shares during the period. Marshall Wace LLP bought a new stake in shares of Sage Therapeutics during the second quarter valued at approximately $1,178,000. AQR Capital Management LLC bought a new stake in shares of Sage Therapeutics during the second quarter valued at approximately $1,008,000. Finally, Algert Global LLC raised its position in shares of Sage Therapeutics by 120.6% during the third quarter. Algert Global LLC now owns 143,034 shares of the biopharmaceutical company’s stock worth $1,033,000 after purchasing an additional 78,190 shares during the period. 99.22% of the stock is owned by institutional investors and hedge funds.

About Sage Therapeutics

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.