Insider Selling: Sage Therapeutics Inc. (SAGE) CFO Sells 4,000 Shares of Stock
Sage Therapeutics Inc. (NASDAQ:SAGE) CFO Kimi Iguchi sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, November 17th. The stock was sold at an average price of $51.77, for a total value of $207,080.00. Following the completion of the sale, the chief financial officer now owns 75,739 shares of the company’s stock, valued at $3,921,008.03. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Kimi Iguchi also recently made the following trade(s):
- On Friday, November 11th, Kimi Iguchi sold 1,500 shares of Sage Therapeutics stock. The stock was sold at an average price of $50.59, for a total value of $75,885.00.
- On Wednesday, September 7th, Kimi Iguchi sold 2,500 shares of Sage Therapeutics stock. The stock was sold at an average price of $40.93, for a total value of $102,325.00.
Shares of Sage Therapeutics Inc. (NASDAQ:SAGE) traded down 1.03% during mid-day trading on Friday, reaching $51.66. The company’s stock had a trading volume of 520,386 shares. The firm has a 50 day moving average price of $44.95 and a 200 day moving average price of $38.97. Sage Therapeutics Inc. has a 52-week low of $26.28 and a 52-week high of $62.64. The firm’s market cap is $1.66 billion.
Sage Therapeutics (NASDAQ:SAGE) last released its quarterly earnings results on Thursday, November 3rd. The biopharmaceutical company reported ($1.15) EPS for the quarter, missing analysts’ consensus estimates of ($1.10) by $0.05. On average, equities analysts predict that Sage Therapeutics Inc. will post ($4.35) EPS for the current fiscal year.
A number of research analysts have recently commented on SAGE shares. Cowen and Company reiterated a “buy” rating on shares of Sage Therapeutics in a report on Thursday, November 3rd. BMO Capital Markets reiterated a “buy” rating and set a $57.00 price target on shares of Sage Therapeutics in a report on Friday, August 12th. Zacks Investment Research upgraded Sage Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, August 26th. Canaccord Genuity set a $110.00 price target on Sage Therapeutics and gave the stock a “buy” rating in a report on Tuesday, September 6th. Finally, Raymond James Financial Inc. started coverage on Sage Therapeutics in a report on Tuesday, September 13th. They set an “outperform” rating and a $75.00 price target for the company. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $69.54.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Teacher Retirement System of Texas increased its position in shares of Sage Therapeutics by 38.2% in the second quarter. Teacher Retirement System of Texas now owns 3,522 shares of the biopharmaceutical company’s stock worth $106,000 after buying an additional 973 shares in the last quarter. BNP Paribas Arbitrage SA increased its position in shares of Sage Therapeutics by 129.1% in the third quarter. BNP Paribas Arbitrage SA now owns 2,369 shares of the biopharmaceutical company’s stock worth $109,000 after buying an additional 1,335 shares in the last quarter. Legal & General Group Plc increased its position in shares of Sage Therapeutics by 30.6% in the second quarter. Legal & General Group Plc now owns 5,414 shares of the biopharmaceutical company’s stock worth $157,000 after buying an additional 1,268 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. acquired a new position in shares of Sage Therapeutics during the second quarter worth about $208,000. Finally, Cowen Group Inc. acquired a new position in shares of Sage Therapeutics during the second quarter worth about $211,000. 85.82% of the stock is currently owned by institutional investors.
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. Its lead product candidate, SAGE-547 is an intravenous formulation of allopregnanolone, a neurosteroid that acts as a synaptic and extrasynaptic modulator of the GABAA receptor.
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