Sage Therapeutics Inc. (SAGE) receives a Hold rating from Needham


Sage Therapeutics Inc.’s recently made public that its Director Barrett Elizabeth acquired Company’s shares for reported $37279.0 on Aug 09. In the deal valued at $18.64 per share,2,000 shares were bought. As a result of this transaction, Barrett Elizabeth now holds 3,000 shares worth roughly $ 60870.0.

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Then, Barrett Elizabeth bought 1,000 shares, generating $50,500 in total proceeds. Upon buying the shares at $50.50, the Director now owns 1,000 shares.

Before that, JONAS JEFFREY M sold 11,643 shares. Sage Therapeutics Inc. shares valued at $519,413 were divested by the Director at a price of $44.61 per share. As a result of the transaction, JONAS JEFFREY M now holds 121,981 shares, worth roughly $2.47 million.

Needham downgraded its Sage Therapeutics Inc. [SAGE] rating to a Hold from a a Buy in a research note published on Friday.

Price Performance Review of SAGE

On Friday, Sage Therapeutics Inc. [NASDAQ:SAGE] saw its stock jump 1.45% to $20.29. On the same session, the stock had its day’s lowest price of $20.10, but rose to a high of $20.66. Over the last five days, the stock has gained 1.81%. Sage Therapeutics Inc. shares have fallen nearly -46.80% since the year began. Nevertheless, the stocks have fallen -46.12% over the past one year. While a 52-week high of $59.99 was reached on 06/12/23, a 52-week low of $16.51 was recorded on 08/07/23. SMA at 50 days reached $34.17, while 200 days put it at $42.10. A total of 1.28 million shares were traded, compared to the trading of 1.23 million shares in the previous session.

Levels Of Support And Resistance For SAGE Stock

The 24-hour chart illustrates a support level at 20.04, which if violated will result in even more drops to 19.79. On the upside, there is a resistance level at 20.60. A further resistance level may holdings at 20.91. The Relative Strength Index (RSI) on the 14-day chart is 27.41, which indicates oversold technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.01, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 60.71%. Stochastics %K at 25.44% indicates the stock is a holding.

How much short interest is there in Sage Therapeutics Inc.?

A steep rise in short interest was recorded in Sage Therapeutics Inc. stocks on Aug 14, 2023, growing by 3.03 million shares to a total of 9.16 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 6.13 million shares. There was a rise of 33.08%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 19.98% of the overall stock float, the days-to-cover ratio (short ratio) rose to 3.33.

Sage Therapeutics Inc. [SAGE] – Who Are The Largest Shareholders?

In filings from Fidelity Management & Research Co, it is revealed that the company now owns 8,789,614 shares, or roughly 14.68% of the outstanding SAGE shares. In other words, the investor’s shares have risen by 1,706,204 from its previous 13-F filing of 7083410.0. Additionally, Wellington Management Co. LLP increased 11.36% of its stake after which the total value it holdings stand at $220,690,688. Over the last quarter, BlackRock Fund Advisors sold -11,550 shares of Sage Therapeutics Inc., while Bellevue Asset Management AG sold 24,375 shares. At present, SSgA Funds Management, Inc. is holding 2,299,140 shares valued at $79.73 million. Dimensional Fund Advisors LP owned 1,716,268 shares of the company at the time of its most recent 13F filing, worth $59.52 million.

According to FactSet, Sage Therapeutics Inc.’s share price will average $25.71 in the next year, based on opinions of analysts polled by the firm. This is up nearly 10.0 percent from its previous closing price of $20.00. Analysts expect Sage Therapeutics Inc. stock to reach the higher price of $79.00, while the lowest price estimate is $18.00. However, 21 analysts have rated SAGE stock as a Hold in their predictions for 2023.


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