Charles Schwab Investment Management Inc. Sells 42,055 Shares of Cassava Sciences, Inc. (NASDAQ:SAVA)

Charles Schwab Investment Management Inc. lowered its holdings in Cassava Sciences, Inc. (NASDAQ:SAVA) by 11.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 319,742 shares of the company’s stock after selling 42,055 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.66% of Cassava Sciences worth $755,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in SAVA. Catalina Capital Group LLC bought a new stake in shares of Cassava Sciences in the fourth quarter valued at approximately $32,000. Quest Partners LLC lifted its position in shares of Cassava Sciences by 117.8% during the 3rd quarter. Quest Partners LLC now owns 1,997 shares of the company’s stock valued at $59,000 after acquiring an additional 1,080 shares during the period. Apollon Wealth Management LLC acquired a new stake in shares of Cassava Sciences during the 4th quarter worth $73,000. BNP Paribas Financial Markets increased its position in shares of Cassava Sciences by 150.1% in the third quarter. BNP Paribas Financial Markets now owns 8,748 shares of the company’s stock worth $257,000 after purchasing an additional 5,250 shares during the period. Finally, Intech Investment Management LLC acquired a new position in Cassava Sciences in the third quarter valued at about $373,000. Institutional investors and hedge funds own 38.05% of the company’s stock.

Cassava Sciences Trading Down 2.9 %

Shares of NASDAQ SAVA opened at $1.65 on Monday. The firm’s 50-day moving average price is $2.49 and its 200-day moving average price is $11.79. The firm has a market capitalization of $79.71 million, a P/E ratio of -1.20 and a beta of -1.24. Cassava Sciences, Inc. has a 1-year low of $1.63 and a 1-year high of $42.20.

Cassava Sciences (NASDAQ:SAVA) last issued its quarterly earnings data on Monday, March 3rd. The company reported ($0.57) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.68) by $0.11. Equities research analysts forecast that Cassava Sciences, Inc. will post -3.97 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reiterated a “neutral” rating and issued a $2.00 price target on shares of Cassava Sciences in a research note on Tuesday, March 25th.

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.