Cassava Sciences, Inc. (NASDAQ:SAVA) Shares Acquired by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. increased its position in shares of Cassava Sciences, Inc. (NASDAQ:SAVA) by 14.4% in the first quarter, HoldingsChannel reports. The firm owned 25,092 shares of the company’s stock after acquiring an additional 3,151 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Cassava Sciences were worth $509,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of SAVA. Vanguard Group Inc. lifted its stake in Cassava Sciences by 0.8% during the 3rd quarter. Vanguard Group Inc. now owns 2,268,566 shares of the company’s stock valued at $37,749,000 after acquiring an additional 18,907 shares during the period. Gallacher Capital Management LLC lifted its position in Cassava Sciences by 0.7% during the fourth quarter. Gallacher Capital Management LLC now owns 581,606 shares of the company’s stock valued at $13,092,000 after purchasing an additional 3,782 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Cassava Sciences by 1.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 308,836 shares of the company’s stock valued at $6,952,000 after purchasing an additional 4,115 shares during the last quarter. Clear Creek Financial Management LLC boosted its holdings in Cassava Sciences by 29.0% in the fourth quarter. Clear Creek Financial Management LLC now owns 134,605 shares of the company’s stock valued at $3,030,000 after purchasing an additional 30,265 shares during the last quarter. Finally, Raymond James & Associates grew its position in Cassava Sciences by 0.8% during the 4th quarter. Raymond James & Associates now owns 74,097 shares of the company’s stock worth $1,668,000 after purchasing an additional 565 shares during the period. Institutional investors and hedge funds own 38.05% of the company’s stock.

Analysts Set New Price Targets

Separately, HC Wainwright cut Cassava Sciences from a “buy” rating to a “neutral” rating in a report on Monday.

Cassava Sciences Trading Down 2.9 %

Cassava Sciences stock opened at $11.79 on Wednesday. The firm has a market cap of $565.68 million, a PE ratio of -5.43 and a beta of -0.57. Cassava Sciences, Inc. has a 12 month low of $8.79 and a 12 month high of $32.10. The stock’s 50 day simple moving average is $20.48 and its two-hundred day simple moving average is $21.94.

Cassava Sciences (NASDAQ:SAVA) last announced its quarterly earnings results on Friday, May 10th. The company reported ($1.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.90). On average, equities research analysts forecast that Cassava Sciences, Inc. will post -1.86 EPS for the current 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.