Commonwealth Equity Services LLC Has $598,000 Stock Position in Cassava Sciences, Inc. (NASDAQ:SAVA)

Commonwealth Equity Services LLC increased its stake in Cassava Sciences, Inc. (NASDAQ:SAVA) by 7.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 48,451 shares of the company’s stock after purchasing an additional 3,384 shares during the period. Commonwealth Equity Services LLC owned approximately 0.10% of Cassava Sciences worth $598,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of SAVA. Cable Car Capital LLC bought a new position in Cassava Sciences in the fourth quarter valued at about $1,204,000. Vanguard Group Inc. grew its position in Cassava Sciences by 1.4% in the first quarter. Vanguard Group Inc. now owns 2,356,480 shares of the company’s stock valued at $47,813,000 after acquiring an additional 31,854 shares during the last quarter. Virtu Financial LLC grew its position in Cassava Sciences by 120.3% in the fourth quarter. Virtu Financial LLC now owns 49,128 shares of the company’s stock valued at $1,106,000 after acquiring an additional 26,824 shares during the last quarter. Bank of New York Mellon Corp grew its position in Cassava Sciences by 18.1% in the second quarter. Bank of New York Mellon Corp now owns 140,847 shares of the company’s stock valued at $1,739,000 after acquiring an additional 21,558 shares during the last quarter. Finally, Bluefin Capital Management LLC bought a new position in Cassava Sciences in the fourth quarter valued at about $410,000. Institutional investors own 38.05% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Rodman & Renshaw reiterated a “buy” rating and issued a $107.00 target price on shares of Cassava Sciences in a research report on Thursday, August 8th. HC Wainwright reiterated a “neutral” rating on shares of Cassava Sciences in a research report on Tuesday, August 13th.

Cassava Sciences Trading Down 1.9 %

Shares of SAVA stock opened at $29.78 on Friday. The business’s 50-day moving average price is $24.52 and its 200-day moving average price is $21.48. Cassava Sciences, Inc. has a 12 month low of $8.79 and a 12 month high of $42.20. The firm has a market capitalization of $1.43 billion, a price-to-earnings ratio of -13.72 and a beta of -0.63.

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