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 trimmed its stake in Cassava Sciences, Inc. (NASDAQ:SAVA) by 17.7% during the third quarter, HoldingsChannel reports. The institutional investor 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’s holdings in Cassava Sciences were worth $1,792,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. KBC Group NV purchased a new position in shares of Cassava Sciences during the third quarter worth approximately $57,000. Quest Partners LLC raised its position in Cassava Sciences by 117.8% in the third quarter. Quest Partners LLC now owns 1,997 shares of the company’s stock worth $59,000 after acquiring an additional 1,080 shares in the last quarter. Dark Forest Capital Management LP acquired a new stake in shares of Cassava Sciences in the second quarter valued at about $131,000. Arizona State Retirement System lifted its position in shares of Cassava Sciences by 4.2% during the 2nd quarter. Arizona State Retirement System now owns 11,495 shares of the company’s stock valued at $142,000 after acquiring an additional 468 shares during the period. Finally, Profund Advisors LLC increased its stake in Cassava Sciences by 4.6% in the 2nd quarter. Profund Advisors LLC now owns 13,440 shares of the company’s stock valued at $166,000 after purchasing an additional 591 shares in the last quarter. Hedge funds and other institutional investors own 38.05% of the company’s stock.

Cassava Sciences Trading Down 1.4 %

NASDAQ:SAVA opened at $2.75 on Monday. The company has a market capitalization of $132.30 million, a P/E ratio of -1.99 and a beta of -0.86. The firm has a 50-day moving average price of $19.85 and a two-hundred day moving average price of $21.45. Cassava Sciences, Inc. has a twelve month low of $2.69 and a twelve month high of $42.20.

Cassava Sciences (NASDAQ:SAVA) last issued its quarterly earnings data 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 quarter in the previous year, the firm earned ($0.61) EPS. On average, equities research analysts predict that Cassava Sciences, Inc. will post -3.97 earnings per share for the current year.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other Cassava Sciences news, CFO Eric Schoen sold 59,800 shares of the company’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $3.86, for a total value of $230,828.00. Following the transaction, the chief financial officer now directly owns 11,500 shares in the company, valued at approximately $44,390. This represents a 83.87 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 9.00% of the stock is currently owned by company insiders.

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.