Schwab Charles Investment Management Inc. Raises Holdings in SAGE Therapeutics Inc (SAGE)

Schwab Charles Investment Management Inc. raised its position in SAGE Therapeutics Inc (NASDAQ:SAGE) by 25.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 189,230 shares of the biopharmaceutical company’s stock after buying an additional 38,204 shares during the quarter. Schwab Charles Investment Management Inc.’s holdings in SAGE Therapeutics were worth $31,169,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Hershey Trust Co. bought a new stake in shares of SAGE Therapeutics during the 3rd quarter valued at $118,000. Oppenheimer Asset Management Inc. raised its stake in shares of SAGE Therapeutics by 412.9% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 1,944 shares of the biopharmaceutical company’s stock valued at $122,000 after purchasing an additional 1,565 shares during the period. Bessemer Group Inc. bought a new stake in shares of SAGE Therapeutics during the 3rd quarter valued at $141,000. Envestnet Asset Management Inc. raised its stake in shares of SAGE Therapeutics by 70.7% during the 3rd quarter. Envestnet Asset Management Inc. now owns 2,906 shares of the biopharmaceutical company’s stock valued at $182,000 after purchasing an additional 1,204 shares during the period. Finally, Tudor Investment Corp ET AL bought a new stake in shares of SAGE Therapeutics during the 2nd quarter valued at $235,000. Hedge funds and other institutional investors own 95.47% of the company’s stock.

In related news, insider Stephen Kanes sold 44,000 shares of the business’s stock in a transaction dated Wednesday, January 10th. The stock was sold at an average price of $177.18, for a total transaction of $7,795,920.00. Following the completion of the transaction, the insider now directly owns 46,348 shares in the company, valued at $8,211,938.64. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, 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 transaction, the chief executive officer now owns 211,473 shares of the company’s stock, valued at $33,296,423.85. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 314,247 shares of company stock valued at $50,465,110. 6.10% of the stock is owned by company insiders.

SAGE Therapeutics Inc (NASDAQ SAGE) opened at $159.34 on Tuesday. SAGE Therapeutics Inc has a 52-week low of $47.06 and a 52-week high of $195.97. The company has a market capitalization of $6,540.00, a PE ratio of -23.19 and a beta of 2.97.

SAGE has been the topic of a number of analyst reports. JPMorgan Chase & Co. reiterated a “buy” rating on shares of SAGE Therapeutics in a research note on Wednesday, January 10th. Royal Bank of Canada boosted their price objective on SAGE Therapeutics from $137.00 to $280.00 and gave the company a “sell” rating in a research note on Thursday, December 7th. They noted that the move was a valuation call. Chardan Capital upgraded SAGE Therapeutics from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $60.00 to $140.00 in a research note on Friday, November 10th. Cowen reiterated a “buy” rating on shares of SAGE Therapeutics in a research note on Monday, December 11th. Finally, Leerink Swann boosted their price objective on SAGE Therapeutics from $123.00 to $246.00 in a research note on Thursday, December 7th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and twelve have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $171.21.

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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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