Fred Alger Management Inc. cut its holdings in SAGE Therapeutics Inc (NASDAQ:SAGE) by 35.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,500 shares of the biopharmaceutical company’s stock after selling 3,509 shares during the quarter. Fred Alger Management Inc.’s holdings in SAGE Therapeutics were worth $1,071,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of SAGE. Oppenheimer Asset Management Inc. lifted its stake in SAGE Therapeutics by 412.9% in the third quarter. Oppenheimer Asset Management Inc. now owns 1,944 shares of the biopharmaceutical company’s stock valued at $122,000 after acquiring an additional 1,565 shares during the last quarter. Bessemer Group Inc. acquired a new stake in SAGE Therapeutics in the third quarter valued at approximately $141,000. Fortaleza Asset Management Inc. acquired a new stake in shares of SAGE Therapeutics in the fourth quarter worth $167,000. First Mercantile Trust Co. acquired a new stake in shares of SAGE Therapeutics in the fourth quarter worth $169,000. Finally, Envestnet Asset Management Inc. lifted its stake in shares of SAGE Therapeutics by 70.7% in the third quarter. Envestnet Asset Management Inc. now owns 2,906 shares of the biopharmaceutical company’s stock worth $182,000 after buying an additional 1,204 shares during the last quarter. Hedge funds and other institutional investors own 96.29% of the company’s stock.
In related news, Director Steven M. Paul sold 58,139 shares of the business’s stock in a transaction on Tuesday, March 6th. The shares were sold at an average price of $172.00, for a total transaction of $9,999,908.00. Following the transaction, the director now owns 632,712 shares of the company’s stock, valued at $108,826,464. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jeffrey M. Jonas sold 210,247 shares of the business’s stock in a transaction on Thursday, December 21st. The stock was sold at an average price of $157.45, for a total transaction of $33,103,390.15. Following the transaction, the chief executive officer now directly owns 211,473 shares in the company, valued at approximately $33,296,423.85. The disclosure for this sale can be found here. Insiders have sold 372,386 shares of company stock worth $60,465,018 in the last ninety days. 6.10% of the stock is currently owned by insiders.
SAGE Therapeutics Inc (SAGE) opened at $173.91 on Wednesday. SAGE Therapeutics Inc has a 52-week low of $59.57 and a 52-week high of $195.97.
SAGE Therapeutics (NASDAQ:SAGE) last announced its earnings results on Thursday, February 22nd. The biopharmaceutical company reported ($1.75) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($1.98) by $0.23. During the same quarter in the prior year, the business posted ($1.50) EPS. sell-side analysts anticipate that SAGE Therapeutics Inc will post -8.34 earnings per share for the current year.
SAGE Therapeutics 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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