SG Americas Securities LLC Takes $514,000 Position in Cassava Sciences, Inc. (NASDAQ:SAVA)

SG Americas Securities LLC purchased a new position in shares of Cassava Sciences, Inc. (NASDAQ:SAVA) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 17,475 shares of the company’s stock, valued at approximately $514,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Cassava Sciences by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 2,356,480 shares of the company’s stock worth $47,813,000 after purchasing an additional 31,854 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Cassava Sciences by 18.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 140,847 shares of the company’s stock worth $1,739,000 after acquiring an additional 21,558 shares during the period. Aristides Capital LLC acquired a new position in Cassava Sciences in the 2nd quarter valued at $201,000. Essex LLC lifted its stake in shares of Cassava Sciences by 45.7% during the 1st quarter. Essex LLC now owns 50,674 shares of the company’s stock worth $1,028,000 after purchasing an additional 15,900 shares during the period. Finally, Dark Forest Capital Management LP acquired a new stake in shares of Cassava Sciences during the second quarter worth $131,000. 38.05% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SAVA has been the topic of a number of research analyst reports. Rodman & Renshaw reissued a “buy” rating and issued a $107.00 price target on shares of Cassava Sciences in a research note on Thursday, August 8th. HC Wainwright raised Cassava Sciences from a “neutral” rating to a “buy” rating and set a $116.00 target price on the stock in a research report on Tuesday, October 8th.

Cassava Sciences Trading Up 2.8 %

Shares of Cassava Sciences stock opened at $28.26 on Wednesday. The company has a fifty day moving average price of $27.96 and a 200 day moving average price of $22.35. Cassava Sciences, Inc. has a twelve month low of $8.79 and a twelve month high of $42.20. The stock has a market cap of $1.36 billion, a price-to-earnings ratio of -13.02 and a beta of -0.63.

Cassava Sciences (NASDAQ:SAVA) last posted its earnings results on Thursday, August 8th. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.57. During the same period last year, the business posted ($0.63) earnings per share. Analysts forecast that Cassava Sciences, Inc. will post -5.7 earnings per share for the current year.

About Cassava Sciences

Cassava Sciences, Inc, a clinical stage biotechnology company, develops drugs for neurodegenerative diseases. Its lead therapeutic product candidate is simufilam, a small molecule drug, which is completed Phase 2 clinical trial; and investigational diagnostic product candidate is SavaDx, a blood-based biomarker/diagnostic to detect Alzheimer's disease.