KBC Group NV Makes New Investment in Cassava Sciences, Inc. (NASDAQ:SAVA)

KBC Group NV bought a new stake in Cassava Sciences, Inc. (NASDAQ:SAVA) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 1,944 shares of the company’s stock, valued at approximately $57,000.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. International Assets Investment Management LLC purchased a new position in Cassava Sciences in the 3rd quarter valued at about $10,610,000. State Board of Administration of Florida Retirement System lifted its position in shares of Cassava Sciences by 5.7% in the first quarter. State Board of Administration of Florida Retirement System now owns 12,149 shares of the company’s stock valued at $247,000 after acquiring an additional 650 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its stake in shares of Cassava Sciences by 146.7% in the first quarter. CANADA LIFE ASSURANCE Co now owns 9,408 shares of the company’s stock worth $191,000 after acquiring an additional 5,594 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Cassava Sciences by 1.4% during the first 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 in the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Cassava Sciences by 18.1% during the second quarter. Bank of New York Mellon Corp now owns 140,847 shares of the company’s stock worth $1,739,000 after purchasing an additional 21,558 shares in the last quarter. Hedge funds and other institutional investors own 38.05% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on SAVA. Rodman & Renshaw reaffirmed a “buy” rating and set a $107.00 target price on shares of Cassava Sciences in a research note on Thursday, August 8th. HC Wainwright restated a “buy” rating and set a $116.00 price target on shares of Cassava Sciences in a research report on Friday, November 8th.

Cassava Sciences Price Performance

SAVA stock opened at $26.48 on Friday. Cassava Sciences, Inc. has a 1 year low of $8.79 and a 1 year high of $42.20. The firm has a market capitalization of $1.27 billion, a PE ratio of -19.19 and a beta of -0.59. The business has a 50 day simple moving average of $27.55 and a 200-day simple moving average of $23.38.

Cassava Sciences (NASDAQ:SAVA) last issued its earnings results on Thursday, November 7th. The company reported ($0.58) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.37) by $0.79. During the same period in the previous year, the firm earned ($0.61) earnings per share. On average, equities research analysts expect that Cassava Sciences, Inc. will post -3.63 EPS for the current year.

Cassava Sciences Profile

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.