BNP Paribas Financial Markets Boosts Stock Position in Cassava Sciences, Inc. (NASDAQ:SAVA)

BNP Paribas Financial Markets grew its stake in Cassava Sciences, Inc. (NASDAQ:SAVA) by 150.1% during the third quarter, HoldingsChannel reports. The firm owned 8,748 shares of the company’s stock after purchasing an additional 5,250 shares during the quarter. BNP Paribas Financial Markets’ holdings in Cassava Sciences were worth $257,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Independent Advisor Alliance purchased a new position in Cassava Sciences in the 3rd quarter valued at $208,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Cassava Sciences by 3.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 361,797 shares of the company’s stock valued at $10,648,000 after acquiring an additional 10,429 shares in the last quarter. Intech Investment Management LLC acquired a new position in shares of Cassava Sciences during the third quarter worth about $373,000. Quest Partners LLC raised its holdings in Cassava Sciences by 117.8% during the third quarter. Quest Partners LLC now owns 1,997 shares of the company’s stock worth $59,000 after purchasing an additional 1,080 shares in the last quarter. Finally, KBC Group NV acquired a new stake in Cassava Sciences in the third quarter valued at about $57,000. Hedge funds and other institutional investors own 38.05% of the company’s stock.

Analyst Upgrades and Downgrades

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

Cassava Sciences Stock Performance

Shares of NASDAQ SAVA opened at $2.66 on Tuesday. Cassava Sciences, Inc. has a one year low of $2.64 and a one year high of $42.20. The firm has a market capitalization of $127.97 million, a P/E ratio of -1.93 and a beta of -0.86. The company’s fifty day moving average is $19.40 and its two-hundred day moving average is $21.32.

Cassava Sciences (NASDAQ:SAVA) last issued its earnings results on Thursday, November 7th. The company reported ($0.58) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.37) by $0.79. During the same quarter in the previous year, the firm earned ($0.61) earnings per share. On average, sell-side analysts forecast that Cassava Sciences, Inc. will post -3.97 earnings per share for the current fiscal year.

Insider Buying and Selling at Cassava Sciences

In other news, CFO Eric Schoen sold 59,800 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $3.86, for a total transaction of $230,828.00. Following the completion of the transaction, the chief financial officer now directly owns 11,500 shares of the company’s stock, valued at $44,390. This trade represents a 83.87 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 9.00% of the stock is owned by corporate insiders.

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.