Cassava Sciences, Inc. (NASDAQ:SAVA) Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its stake in shares of Cassava Sciences, Inc. (NASDAQ:SAVA) by 17.7% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 60,894 shares of the company’s stock after selling 13,075 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.13% of Cassava Sciences worth $1,792,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. International Assets Investment Management LLC purchased a new stake in shares of Cassava Sciences in the 3rd quarter valued at approximately $10,610,000. Bank of New York Mellon Corp increased 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 acquiring an additional 21,558 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Cassava Sciences during the third quarter worth $514,000. Aristides Capital LLC purchased a new stake in Cassava Sciences in the second quarter valued at $201,000. Finally, Essex LLC grew its holdings in shares of Cassava Sciences by 26.1% during the 3rd quarter. Essex LLC now owns 69,774 shares of the company’s stock worth $2,053,000 after purchasing an additional 14,456 shares during the period. 38.05% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Eric Schoen sold 59,800 shares of Cassava Sciences stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $3.86, for a total value of $230,828.00. Following the completion of the transaction, the chief financial officer now owns 11,500 shares in the company, valued at approximately $44,390. This trade represents a 83.87 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 9.00% of the company’s stock.

Cassava Sciences Stock Performance

Cassava Sciences stock opened at $2.75 on Monday. Cassava Sciences, Inc. has a fifty-two week low of $2.69 and a fifty-two week high of $42.20. The firm has a 50 day moving average price of $19.85 and a 200 day moving average price of $21.45. The company has a market capitalization of $132.30 million, a PE ratio of -1.99 and a beta of -0.86.

Cassava Sciences (NASDAQ:SAVA) last posted its earnings results on Thursday, November 7th. The company reported ($0.58) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.37) by $0.79. During the same period last year, the business posted ($0.61) EPS. As a group, equities research analysts forecast that Cassava Sciences, Inc. will post -3.97 earnings per share for the current year.

Analysts Set New Price Targets

Separately, HC Wainwright lowered shares of Cassava Sciences from a “buy” rating to a “neutral” rating and set a $116.00 price objective on the stock. in a report on Tuesday, November 26th.

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.