1,944 Shares in Cassava Sciences, Inc. (NASDAQ:SAVA) Acquired by KBC Group NV

KBC Group NV bought a new stake in Cassava Sciences, Inc. (NASDAQ:SAVA) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 1,944 shares of the company’s stock, valued at approximately $57,000.

Several other large investors have also modified their holdings of SAVA. Vanguard Group Inc. increased its position 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. Clear Creek Financial Management LLC increased its position in shares of Cassava Sciences by 5.5% during the third quarter. Clear Creek Financial Management LLC now owns 153,533 shares of the company’s stock valued at $4,518,000 after acquiring an additional 7,983 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of 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 valued at $1,739,000 after acquiring an additional 21,558 shares during the period. Essex LLC lifted its holdings in shares of Cassava Sciences by 26.1% in the 3rd quarter. Essex LLC now owns 69,774 shares of the company’s stock worth $2,053,000 after acquiring an additional 14,456 shares during the last quarter. Finally, Rhumbline Advisers boosted its position in shares of Cassava Sciences by 4.1% during the 2nd quarter. Rhumbline Advisers now owns 59,259 shares of the company’s stock worth $732,000 after purchasing an additional 2,322 shares during the period. Institutional investors and hedge funds own 38.05% of the company’s stock.

Cassava Sciences Stock Performance

Shares of SAVA opened at $26.48 on Friday. The company’s 50-day simple moving average is $27.55 and its 200-day simple moving average is $23.38. Cassava Sciences, Inc. has a 1 year low of $8.79 and a 1 year high of $42.20. The stock has a market capitalization of $1.27 billion, a PE ratio of -19.19 and a beta of -0.59.

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 the consensus estimate of ($1.37) by $0.79. During the same quarter in the previous year, the company earned ($0.61) EPS. On average, sell-side analysts predict that Cassava Sciences, Inc. will post -3.63 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have issued reports on the company. HC Wainwright reissued a “buy” rating and issued a $116.00 target price on shares of Cassava Sciences in a research report on Friday, November 8th. Rodman & Renshaw reiterated a “buy” rating and issued a $107.00 price objective on shares of Cassava Sciences in a report on Thursday, August 8th.

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.