Rhumbline Advisers Purchases 2,322 Shares of Cassava Sciences, Inc. (NASDAQ:SAVA)

Rhumbline Advisers raised its position in Cassava Sciences, Inc. (NASDAQ:SAVA) by 4.1% during the second quarter, according to its most recent filing with the SEC. The firm owned 59,259 shares of the company’s stock after purchasing an additional 2,322 shares during the period. Rhumbline Advisers owned 0.12% of Cassava Sciences worth $732,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of SAVA. Cable Car Capital LLC acquired a new position in Cassava Sciences in the fourth quarter valued at $1,204,000. Vanguard Group Inc. lifted its stake in shares of Cassava Sciences by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 2,356,480 shares of the company’s stock valued at $47,813,000 after purchasing an additional 31,854 shares during the period. Virtu Financial LLC boosted its position in shares of Cassava Sciences by 120.3% during the 4th quarter. Virtu Financial LLC now owns 49,128 shares of the company’s stock valued at $1,106,000 after purchasing an additional 26,824 shares in the last quarter. Bank of New York Mellon Corp grew its stake in 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 during the period. Finally, Bluefin Capital Management LLC bought a new stake in Cassava Sciences in the fourth quarter worth approximately $410,000. 38.05% of the stock is owned by institutional investors.

Cassava Sciences Price Performance

Shares of Cassava Sciences stock opened at $29.58 on Wednesday. The business has a 50-day simple moving average of $25.13 and a 200 day simple moving average of $21.63. The firm has a market capitalization of $1.42 billion, a price-to-earnings ratio of -13.63 and a beta of -0.63. Cassava Sciences, Inc. has a one year low of $8.79 and a one year high of $42.20.

Cassava Sciences (NASDAQ:SAVA) last issued its earnings results on Thursday, August 8th. The company reported $0.13 earnings per share for the quarter, topping 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 expect that Cassava Sciences, Inc. will post -5.7 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have issued reports on SAVA. Rodman & Renshaw restated a “buy” rating and set a $107.00 price target on shares of Cassava Sciences in a report on Thursday, August 8th. HC Wainwright reissued a “neutral” rating on shares of Cassava Sciences in a research note on Tuesday, August 13th.

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.