Sage Therapeutics, Inc. (NASDAQ:SAGE) Sees Large Growth in Short Interest

Sage Therapeutics, Inc. (NASDAQ:SAGE) saw a significant growth in short interest in the month of January. As of January 15th, there was short interest totalling 6,130,000 shares, a growth of 26.9% from the December 31st total of 4,830,000 shares. Currently, 11.7% of the shares of the company are short sold. Based on an average daily trading volume, of 1,590,000 shares, the days-to-cover ratio is presently 3.9 days.

Analysts Set New Price Targets

SAGE has been the topic of a number of analyst reports. Truist Financial cut their price objective on shares of Sage Therapeutics from $13.00 to $8.00 and set a “hold” rating on the stock in a research report on Wednesday, October 30th. Bank of America lowered their price objective on Sage Therapeutics from $11.00 to $6.00 and set an “underperform” rating on the stock in a research note on Wednesday, October 9th. Oppenheimer decreased their target price on Sage Therapeutics from $9.00 to $8.00 and set a “market perform” rating for the company in a research report on Wednesday, October 30th. HC Wainwright reissued a “neutral” rating and set a $14.00 price objective on shares of Sage Therapeutics in a research note on Wednesday, November 20th. Finally, Wedbush lowered their target price on Sage Therapeutics from $9.00 to $8.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. 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 stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $10.53.

Sage Therapeutics Stock Performance

Shares of NASDAQ SAGE traded up $0.01 during trading on Monday, reaching $7.26. The stock had a trading volume of 1,406,333 shares, compared to its average volume of 2,736,216. Sage Therapeutics has a fifty-two week low of $4.62 and a fifty-two week high of $27.39. The company has a market cap of $444.09 million, a P/E ratio of -1.30 and a beta of 0.94. The business’s 50-day moving average price is $6.11 and its 200-day moving average price is $7.12.

Institutional Investors Weigh In On Sage Therapeutics

Hedge funds have recently added to or reduced their stakes in the company. Marshall Wace LLP acquired a new stake in shares of Sage Therapeutics during the second quarter worth $1,178,000. AQR Capital Management LLC bought a new position in Sage Therapeutics in the 2nd quarter worth approximately $1,008,000. Algert Global LLC lifted its holdings in shares of Sage Therapeutics by 152.0% during the 2nd quarter. Algert Global LLC now owns 64,844 shares of the biopharmaceutical company’s stock worth $704,000 after acquiring an additional 39,114 shares during the period. Inspire Investing LLC grew its holdings in shares of Sage Therapeutics by 77.0% during the third quarter. Inspire Investing LLC now owns 57,772 shares of the biopharmaceutical company’s stock worth $417,000 after purchasing an additional 25,139 shares during the last quarter. Finally, Creative Planning bought a new stake in Sage Therapeutics in the third quarter valued at about $88,000. Institutional investors and hedge funds own 99.22% of the company’s stock.

Sage Therapeutics Company 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.