SAGE Therapeutics Inc (SAGE) CEO Jeffrey M. Jonas Sells 210,247 Shares of Stock

SAGE Therapeutics Inc (NASDAQ:SAGE) CEO Jeffrey M. Jonas sold 210,247 shares of the business’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 sale, the chief executive officer now owns 211,473 shares in the company, valued at approximately $33,296,423.85. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

SAGE Therapeutics Inc (SAGE) traded up $10.49 during trading hours on Friday, reaching $165.89. The company had a trading volume of 728,668 shares, compared to its average volume of 1,274,878. SAGE Therapeutics Inc has a 12-month low of $44.55 and a 12-month high of $173.36. The firm has a market capitalization of $6,379.80, a P/E ratio of -24.15 and a beta of 3.03.

SAGE Therapeutics (NASDAQ:SAGE) last released its quarterly earnings data on Thursday, November 2nd. The biopharmaceutical company reported ($1.97) EPS for the quarter, topping analysts’ consensus estimates of ($1.98) by $0.01. The firm’s revenue was up .0% on a year-over-year basis. analysts expect that SAGE Therapeutics Inc will post -7.42 EPS for the current year.

SAGE has been the topic of several recent analyst reports. SunTrust Banks boosted their price objective on SAGE Therapeutics to $178.00 and gave the stock a “positive” rating in a report on Friday, December 8th. Canaccord Genuity cut their price objective on SAGE Therapeutics from $110.00 to $81.00 and set a “buy” rating on the stock in a report on Tuesday, September 12th. Bank of America dropped their target price on SAGE Therapeutics from $103.00 to $101.00 and set a “buy” rating on the stock in a report on Thursday, November 16th. Cowen reiterated a “buy” rating on shares of SAGE Therapeutics in a report on Monday, December 11th. Finally, Royal Bank of Canada reiterated a “buy” rating and issued a $117.00 target price on shares of SAGE Therapeutics in a report on Wednesday, October 18th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $171.21.

Large investors have recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in SAGE Therapeutics by 11.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,378 shares of the biopharmaceutical company’s stock worth $110,000 after buying an additional 138 shares during the last quarter. Hershey Trust Co. bought a new stake in SAGE Therapeutics during the third quarter worth approximately $118,000. Oppenheimer Asset Management Inc. boosted its position in SAGE Therapeutics by 412.9% during the third quarter. Oppenheimer Asset Management Inc. now owns 1,944 shares of the biopharmaceutical company’s stock worth $122,000 after purchasing an additional 1,565 shares during the period. Bessemer Group Inc. bought a new stake in SAGE Therapeutics during the third quarter worth approximately $141,000. Finally, Canada Pension Plan Investment Board bought a new stake in SAGE Therapeutics during the second quarter worth approximately $175,000. Hedge funds and other institutional investors own 95.33% of the company’s stock.

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About SAGE Therapeutics

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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