Creative Planning Invests $201,000 in Cassava Sciences, Inc. (NASDAQ:SAVA)

Creative Planning purchased a new stake in Cassava Sciences, Inc. (NASDAQ:SAVA) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 6,831 shares of the company’s stock, valued at approximately $201,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. SG Americas Securities LLC acquired a new position in Cassava Sciences during the third quarter valued at approximately $514,000. Aristides Capital LLC acquired a new stake in shares of Cassava Sciences in the 2nd quarter valued at approximately $201,000. The Manufacturers Life Insurance Company boosted its holdings in shares of Cassava Sciences by 11.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,700 shares of the company’s stock valued at $280,000 after buying an additional 2,377 shares during the last quarter. Dark Forest Capital Management LP bought a new position in shares of Cassava Sciences in the second quarter valued at $131,000. Finally, Profund Advisors LLC increased its holdings in Cassava Sciences by 4.6% during the second quarter. Profund Advisors LLC now owns 13,440 shares of the company’s stock worth $166,000 after buying an additional 591 shares during the last quarter. Institutional investors and hedge funds own 38.05% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on SAVA. HC Wainwright reiterated a “buy” rating and issued a $116.00 price target on shares of Cassava Sciences in a research note on Friday. Rodman & Renshaw reissued a “buy” rating and set a $107.00 price target on shares of Cassava Sciences in a research report on Thursday, August 8th.

Cassava Sciences Stock Performance

NASDAQ SAVA opened at $27.06 on Tuesday. The stock has a market cap of $1.30 billion, a PE ratio of -19.69 and a beta of -0.59. The firm has a 50-day moving average of $27.72 and a 200-day moving average of $23.04. Cassava Sciences, Inc. has a 52-week low of $8.79 and a 52-week high of $42.20.

Cassava Sciences (NASDAQ:SAVA) last announced its earnings results on Thursday, November 7th. The company reported ($0.58) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.37) by $0.79. During the same period in the prior year, the business posted ($0.61) EPS. As a group, analysts predict that Cassava Sciences, Inc. will post -5.7 EPS for the current fiscal 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.