Cormorant Asset Management buys $34,690,950 stake in SAGE Therapeutics Inc (SAGE)

SAGE Therapeutics Inc (SAGE) : Cormorant Asset Management scooped up 630,000 additional shares in SAGE Therapeutics Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 945,000 shares of SAGE Therapeutics Inc which is valued at $34,690,950.SAGE Therapeutics Inc makes up approximately 4.41% of Cormorant Asset Management’s portfolio.

Other Hedge Funds, Including , Lombard Odier Asset Management (usa) Corp added SAGE to its portfolio by purchasing 23,772 company shares during the most recent quarter which is valued at $872,670. SAGE Therapeutics Inc makes up approx 0.12% of Lombard Odier Asset Management (usa) Corp’s portfolio. Opaleye Management sold out all of its stake in SAGE during the most recent quarter. The investment firm sold 165,000 shares of SAGE which is valued $6,057,150.Credit Suisse Ag reduced its stake in SAGE by selling 1,618 shares or 4.44% in the most recent quarter. The Hedge Fund company now holds 34,783 shares of SAGE which is valued at $1,276,884. Oxford Asset Management added SAGE to its portfolio by purchasing 172,485 company shares during the most recent quarter which is valued at $6,450,939. SAGE Therapeutics Inc makes up approx 0.25% of Oxford Asset Management’s portfolio.Oak Ridge Investments reduced its stake in SAGE by selling 667,005 shares or 51.06% in the most recent quarter. The Hedge Fund company now holds 639,301 shares of SAGE which is valued at $28,129,244. SAGE Therapeutics Inc makes up approx 0.68% of Oak Ridge Investments’s portfolio.

SAGE Therapeutics Inc closed down -0.21 points or -0.56% at $36.96 with 2,39,650 shares getting traded on Thursday. Post opening the session at $37.33, the shares hit an intraday low of $36.23 and an intraday high of $37.65 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

Many Wall Street Analysts have commented on SAGE Therapeutics Inc. H.C. Wainwright Initiated SAGE Therapeutics Inc on Jun 23, 2016 to “Buy”, Price Target of the shares are set at $56.Chardan Capital Markets Initiated SAGE Therapeutics Inc on May 24, 2016 to “Sell”, Price Target of the shares are set at $18.

SAGE Therapeutics Inc. is a clinical-stage biopharmaceutical company. The Company is engaged in developing and commercializing medicines to treat life-threatening rare central nervous system (CNS) disorders. The Company’s lead product candidate in its status epilepticus (SE) program is SAGE-547. SAGE-689 and SAGE-217 are two additional product candidates in its pipeline. The Company has submitted investigational new drug (IND) for SAGE-547 for the treatment of SRSE with the United States Food and Drug Administration. SAGE-547 is an allosteric modulator of both synaptic and extra-synaptic GABAA receptors. SAGE-217 is a neuroactive steroid that acts as a positive allosteric modulator of synaptic and extra-synaptic GABAA receptor subtypes. SAGE-689 is being developed as an adjunctive IV therapy for the treatment of status epilepticus patients.

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