Bank of New York Mellon Corp grew its stake in shares of Sage Therapeutics, Inc. (NASDAQ:SAGE) by 37.9% during the 2nd quarter, HoldingsChannel reports. The fund owned 274,653 shares of the biopharmaceutical company’s stock after buying an additional 75,491 shares during the period. Bank of New York Mellon Corp’s holdings in Sage Therapeutics were worth $15,602,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors also recently bought and sold shares of the company. Rockefeller Capital Management L.P. purchased a new stake in shares of Sage Therapeutics during the first quarter worth $29,000. Eaton Vance Management purchased a new stake in shares of Sage Therapeutics during the first quarter worth $30,000. Highlander Capital Management LLC purchased a new stake in shares of Sage Therapeutics during the first quarter worth $37,000. Quantbot Technologies LP purchased a new stake in shares of Sage Therapeutics during the first quarter worth $43,000. Finally, Van ECK Associates Corp purchased a new stake in shares of Sage Therapeutics during the second quarter worth $43,000. Hedge funds and other institutional investors own 84.72% of the company’s stock.
In related news, CEO Barry E. Greene acquired 23,640 shares of Sage Therapeutics stock in a transaction dated Thursday, August 5th. The shares were purchased at an average cost of $43.15 per share, with a total value of $1,020,066.00. Following the completion of the purchase, the chief executive officer now owns 32,440 shares of the company’s stock, valued at $1,399,786. The transaction was disclosed in a document filed with the SEC, which is available through this link. 4.70% of the stock is currently owned by company insiders.
SAGE opened at $45.36 on Thursday. The business’s fifty day simple moving average is $44.53 and its 200 day simple moving average is $57.79. Sage Therapeutics, Inc. has a 52 week low of $39.77 and a 52 week high of $98.39. The stock has a market cap of $2.67 billion, a PE ratio of 3.57 and a beta of 1.86.
Sage Therapeutics (NASDAQ:SAGE) last announced its quarterly earnings data on Tuesday, August 3rd. The biopharmaceutical company reported ($1.83) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($1.69) by ($0.14). Sage Therapeutics had a net margin of 59.79% and a negative return on equity of 26.50%. The company had revenue of $1.60 million for the quarter, compared to the consensus estimate of $2.01 million. During the same period last year, the business posted ($2.63) earnings per share. The firm’s quarterly revenue was up 45.5% compared to the same quarter last year. As a group, equities research analysts predict that Sage Therapeutics, Inc. will post -7.25 EPS for the current year.
About Sage Therapeutics
SAGE Therapeutics, Inc is a clinical stage biopharmaceutical company, which engages in the development and commercialization of novel medicines to treat life-altering central nervous system. Its programs include brexanolone, which is an acute interventional treatment for postpartum depression; and SAGE-217, an oral therapy for treatment of various CNS disorders.
Further Reading: Day Trading – Risk Worth the Reward?
Want to see what other hedge funds are holding SAGE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sage Therapeutics, Inc. (NASDAQ:SAGE).
Receive News & Ratings for Sage Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sage Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.