SG Americas Securities LLC purchased a new position in shares of Cassava Sciences, Inc. (NASDAQ:SAVA – Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 17,475 shares of the company’s stock, valued at approximately $514,000.
Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Cassava Sciences by 1.4% during the 1st 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 during the last quarter. Bank of New York Mellon Corp grew its stake in Cassava Sciences by 18.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 140,847 shares of the company’s stock worth $1,739,000 after acquiring an additional 21,558 shares during the period. Aristides Capital LLC acquired a new position in Cassava Sciences in the 2nd quarter valued at $201,000. Essex LLC lifted its stake in shares of Cassava Sciences by 45.7% during the 1st quarter. Essex LLC now owns 50,674 shares of the company’s stock worth $1,028,000 after purchasing an additional 15,900 shares during the period. Finally, Dark Forest Capital Management LP acquired a new stake in shares of Cassava Sciences during the second quarter worth $131,000. 38.05% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
SAVA has been the topic of a number of research analyst reports. Rodman & Renshaw reissued a “buy” rating and issued a $107.00 price target on shares of Cassava Sciences in a research note on Thursday, August 8th. HC Wainwright raised Cassava Sciences from a “neutral” rating to a “buy” rating and set a $116.00 target price on the stock in a research report on Tuesday, October 8th.
Cassava Sciences Trading Up 2.8 %
Shares of Cassava Sciences stock opened at $28.26 on Wednesday. The company has a fifty day moving average price of $27.96 and a 200 day moving average price of $22.35. Cassava Sciences, Inc. has a twelve month low of $8.79 and a twelve month high of $42.20. The stock has a market cap of $1.36 billion, a price-to-earnings ratio of -13.02 and a beta of -0.63.
Cassava Sciences (NASDAQ:SAVA – Get Free Report) last posted its earnings results on Thursday, August 8th. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.57. During the same period last year, the business posted ($0.63) earnings per share. Analysts forecast that Cassava Sciences, Inc. will post -5.7 earnings per share for the current year.
About Cassava Sciences
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.
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