Redmile Group LLC cut its holdings in SAGE Therapeutics Inc (NASDAQ:SAGE) by 50.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,450 shares of the biopharmaceutical company’s stock after selling 1,500 shares during the quarter. Redmile Group LLC’s holdings in SAGE Therapeutics were worth $231,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Cornerstone Advisors Inc. boosted its position in SAGE Therapeutics by 28.3% during the first quarter. Cornerstone Advisors Inc. now owns 308 shares of the biopharmaceutical company’s stock worth $49,000 after purchasing an additional 68 shares in the last quarter. Creative Planning raised its holdings in shares of SAGE Therapeutics by 3.1% in the first quarter. Creative Planning now owns 2,269 shares of the biopharmaceutical company’s stock worth $361,000 after acquiring an additional 69 shares during the last quarter. State of Alaska Department of Revenue raised its holdings in shares of SAGE Therapeutics by 1.3% in the first quarter. State of Alaska Department of Revenue now owns 5,680 shares of the biopharmaceutical company’s stock worth $903,000 after acquiring an additional 75 shares during the last quarter. Daiwa Securities Group Inc. raised its holdings in shares of SAGE Therapeutics by 34.8% in the fourth quarter. Daiwa Securities Group Inc. now owns 310 shares of the biopharmaceutical company’s stock worth $30,000 after acquiring an additional 80 shares during the last quarter. Finally, Mckinley Capital Management LLC Delaware increased its stake in SAGE Therapeutics by 53.3% in the first quarter. Mckinley Capital Management LLC Delaware now owns 282 shares of the biopharmaceutical company’s stock valued at $45,000 after purchasing an additional 98 shares during the last quarter.

SAGE has been the subject of several analyst reports. Canaccord Genuity set a $220.00 target price on SAGE Therapeutics and gave the company a “buy” rating in a research note on Monday, April 8th. BidaskClub upgraded SAGE Therapeutics from a “hold” rating to a “buy” rating in a research note on Wednesday, April 10th. Raymond James reiterated a “market perform” rating on shares of SAGE Therapeutics in a research note on Friday, April 26th. Jefferies Financial Group started coverage on SAGE Therapeutics in a research report on Thursday, April 25th. They set a “buy” rating and a $195.00 price target for the company. Finally, Oppenheimer set a $170.00 price target on SAGE Therapeutics and gave the company a “buy” rating in a research report on Sunday, May 5th. One analyst has rated the stock with a sell rating, one has given a hold rating and fifteen have assigned a buy rating to the company’s stock. SAGE Therapeutics has an average rating of “Buy” and an average price target of $202.15.

In other news, Director Steven M. Paul sold 60,421 shares of the company’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $161.28, for a total value of $9,744,698.88. Following the completion of the sale, the director now owns 272,777 shares of the company’s stock, valued at $43,993,474.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director James M. Frates sold 8,000 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $162.22, for a total value of $1,297,760.00. Following the completion of the transaction, the director now directly owns 12,235 shares of the company’s stock, valued at approximately $1,984,761.70. The disclosure for this sale can be found here. Insiders sold 287,346 shares of company stock valued at $49,183,476 in the last ninety days. Company insiders own 4.60% of the company’s stock.

SAGE stock opened at $174.26 on Monday. SAGE Therapeutics Inc has a 12-month low of $79.88 and a 12-month high of $178.16. The company has a quick ratio of 20.06, a current ratio of 20.06 and a debt-to-equity ratio of 0.03. The stock has a market cap of $8.91 billion, a price-to-earnings ratio of -21.57 and a beta of 2.66.

SAGE Therapeutics (NASDAQ:SAGE) last posted its quarterly earnings results on Thursday, May 2nd. The biopharmaceutical company reported ($3.37) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($3.17) by ($0.20). The business had revenue of $0.47 million during the quarter. During the same quarter in the prior year, the firm earned ($1.68) earnings per share. On average, research analysts anticipate that SAGE Therapeutics Inc will post -13.19 earnings per share for the current year.

COPYRIGHT VIOLATION WARNING: “Redmile Group LLC Has $231,000 Position in SAGE Therapeutics Inc (NASDAQ:SAGE)” was first reported by Watch List News and is the property of of Watch List News. If you are viewing this news story on another publication, it was stolen and reposted in violation of U.S. & international copyright & trademark law. The correct version of this news story can be accessed at https://www.watchlistnews.com/redmile-group-llc-has-231000-position-in-sage-therapeutics-inc-nasdaqsage/3044123.html.

About SAGE Therapeutics

Sage Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops and commercializes novel medicines to treat central nervous system (CNS) disorders. Its lead product candidate is ZULRESSO, a proprietary intravenous formulation of brexanolone that has completed Phase III clinical trials for the treatment of postpartum depression (PPD).

See Also: Book Value Per Share in Stock Trading

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).

Institutional Ownership by Quarter for SAGE Therapeutics (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.