How SAGE Therapeutics Inc (SAGE) Stacks Up Against Its Peers

Because SAGE Therapeutics Inc (NASDAQ:SAGE) has encountered a decline in interest from the smart money, it’s easy to see that there lies a certain “tier” of hedgies that slashed their full holdings last quarter. It’s worth mentioning that Bihua Chen’s Cormorant Asset Management said goodbye to the biggest investment of all the investors tracked by Insider Monkey, valued at about $22 million in stock.

Let’s now take a look at hedge fund activity in other stocks – not necessarily in the same industry as SAGE Therapeutics Inc (NASDAQ:SAGE) but similarly valued. We will take a look at Horace Mann Educators Corporation (NYSE:HMN), Park National Corporation (NYSEMKT:PRK), Crestwood Equity Partners LP (NYSE:CEQP), and Infoblox Inc (NYSE:BLOX). This group of stocks’ market values resemble SAGE’s market value.

As you can see these stocks had an average of 13 hedge funds with bullish positions and the average amount invested in these stocks was $123 million. That figure was $278 million in SAGE’s case. Infoblox Inc (NYSE:BLOX) is the most popular stock in this table. On the other hand Park National Corporation (NYSEAMEX:PRK) is the least popular one with only 4 bullish hedge fund positions. SAGE Therapeutics Inc (NASDAQ:SAGE) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard BLOX might be a better candidate to consider taking a long position in.

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