JPMorgan Chase & Co. Sells 19,524 Shares of Cassava Sciences, Inc. (NASDAQ:SAVA)

JPMorgan Chase & Co. cut its position in Cassava Sciences, Inc. (NASDAQ:SAVA) by 34.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 36,353 shares of the company’s stock after selling 19,524 shares during the quarter. JPMorgan Chase & Co. owned about 0.08% of Cassava Sciences worth $1,070,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. KBC Group NV acquired a new stake in shares of Cassava Sciences during the third quarter worth $57,000. Quest Partners LLC raised its stake in Cassava Sciences by 117.8% in the 3rd quarter. Quest Partners LLC now owns 1,997 shares of the company’s stock worth $59,000 after purchasing an additional 1,080 shares in the last quarter. Dark Forest Capital Management LP bought a new stake in Cassava Sciences in the 2nd quarter valued at about $131,000. Profund Advisors LLC grew its position in shares of Cassava Sciences by 4.6% during the 2nd quarter. Profund Advisors LLC now owns 13,440 shares of the company’s stock worth $166,000 after purchasing an additional 591 shares in the last quarter. Finally, Creative Planning bought a new position in shares of Cassava Sciences during the third quarter worth approximately $201,000. 38.05% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, HC Wainwright cut Cassava Sciences from a “buy” rating to a “neutral” rating and set a $116.00 price target for the company. in a research note on Tuesday, November 26th.

Insider Buying and Selling at Cassava Sciences

In other news, CFO Eric Schoen sold 59,800 shares of the stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $3.86, for a total value of $230,828.00. Following the completion of the transaction, the chief financial officer now owns 11,500 shares of the company’s stock, valued at approximately $44,390. This represents a 83.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 9.00% of the company’s stock.

Cassava Sciences Stock Down 0.4 %

SAVA opened at $2.52 on Friday. The stock has a market capitalization of $121.24 million, a price-to-earnings ratio of -1.83 and a beta of -0.99. Cassava Sciences, Inc. has a twelve month low of $2.23 and a twelve month high of $42.20. The company has a 50-day simple moving average of $5.87 and a 200 day simple moving average of $18.29.

Cassava Sciences (NASDAQ:SAVA) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.58) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.37) by $0.79. During the same quarter last year, the business posted ($0.61) EPS. Sell-side analysts anticipate that Cassava Sciences, Inc. will post -3.97 EPS for the current fiscal year.

Cassava Sciences Company 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.