Public Employees Retirement Association of Colorado Invests $506,000 in SAGE Therapeutics Inc (SAGE)

Public Employees Retirement Association of Colorado bought a new position in SAGE Therapeutics Inc (NASDAQ:SAGE) during the fourth quarter, HoldingsChannel reports. The fund bought 3,072 shares of the biopharmaceutical company’s stock, valued at approximately $506,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ameriprise Financial Inc. boosted its position in shares of SAGE Therapeutics by 0.9% during the second quarter. Ameriprise Financial Inc. now owns 59,336 shares of the biopharmaceutical company’s stock valued at $4,723,000 after buying an additional 552 shares during the last quarter. Voya Investment Management LLC boosted its position in shares of SAGE Therapeutics by 37.5% during the second quarter. Voya Investment Management LLC now owns 16,025 shares of the biopharmaceutical company’s stock valued at $1,276,000 after buying an additional 4,371 shares during the last quarter. Stifel Financial Corp purchased a new stake in shares of SAGE Therapeutics during the second quarter valued at $401,000. State Street Corp boosted its position in shares of SAGE Therapeutics by 7.7% during the second quarter. State Street Corp now owns 1,212,384 shares of the biopharmaceutical company’s stock valued at $96,558,000 after buying an additional 87,097 shares during the last quarter. Finally, Cubist Systematic Strategies LLC boosted its position in shares of SAGE Therapeutics by 91.8% during the second quarter. Cubist Systematic Strategies LLC now owns 3,058 shares of the biopharmaceutical company’s stock valued at $244,000 after buying an additional 1,464 shares during the last quarter. 95.47% of the stock is currently owned by hedge funds and other institutional investors.

Several equities research analysts recently commented on the company. BidaskClub cut SAGE Therapeutics from a “hold” rating to a “sell” rating in a research report on Tuesday, February 13th. Needham & Company LLC increased their price objective on SAGE Therapeutics from $86.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, November 10th. Canaccord Genuity set a $191.00 price objective on SAGE Therapeutics and gave the company a “buy” rating in a research report on Thursday, December 7th. BMO Capital Markets reaffirmed an “outperform” rating and set a $203.00 price objective on shares of SAGE Therapeutics in a research report on Thursday, December 7th. Finally, Stifel Nicolaus increased their price objective on SAGE Therapeutics from $91.00 to $105.00 and gave the company a “buy” rating in a research report on Thursday, November 9th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and twelve have given a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $171.21.

SAGE Therapeutics Inc (NASDAQ SAGE) opened at $162.37 on Monday. The stock has a market capitalization of $6,670.00, a PE ratio of -23.63 and a beta of 2.97. SAGE Therapeutics Inc has a 12-month low of $59.50 and a 12-month high of $195.97.

In other SAGE Therapeutics news, insider Albert Robichaud sold 60,000 shares of the firm’s stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $159.43, for a total value of $9,565,800.00. Following the transaction, the insider now directly owns 152,759 shares of the company’s stock, valued at $24,354,367.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jeffrey M. Jonas sold 210,247 shares of the firm’s stock in a transaction dated Thursday, December 21st. The stock was sold at an average price of $157.45, for a total value of $33,103,390.15. Following the completion of the transaction, the chief executive officer now directly owns 211,473 shares in the company, valued at $33,296,423.85. The disclosure for this sale can be found here. Insiders sold 314,247 shares of company stock worth $50,465,110 over the last three months. Insiders own 6.10% of the company’s stock.

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SAGE Therapeutics Company Profile

SAGE Therapeutics, Inc is a clinical-stage biopharmaceutical company. The Company is engaged in developing and commercializing medicines to treat central nervous system (CNS) disorders. The Company’s lead product candidate, SAGE-547 is an intravenous formulation of allopregnanolone, a neurosteroid that acts as a synaptic and extrasynaptic modulator of the Gamma-Amino Butyric Acid-A (GABAA) receptor.

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Institutional Ownership by Quarter for SAGE Therapeutics (NASDAQ:SAGE)

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