Charles Schwab Investment Management Inc. Sells 42,055 Shares of Cassava Sciences, Inc. (NASDAQ:SAVA)

Charles Schwab Investment Management Inc. cut its stake in shares of Cassava Sciences, Inc. (NASDAQ:SAVA) by 11.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 319,742 shares of the company’s stock after selling 42,055 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Cassava Sciences were worth $755,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its holdings in Cassava Sciences by 4.3% in the third quarter. Geode Capital Management LLC now owns 1,008,593 shares of the company’s stock worth $29,688,000 after buying an additional 41,289 shares during the period. BNP Paribas Financial Markets lifted its stake in Cassava Sciences by 150.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 8,748 shares of the company’s stock valued at $257,000 after acquiring an additional 5,250 shares during the period. Intech Investment Management LLC purchased a new stake in shares of Cassava Sciences during the 3rd quarter valued at about $373,000. Tidal Investments LLC purchased a new stake in Cassava Sciences during the 3rd quarter valued at $11,036,000. Finally, Wellington Management Group LLP purchased a new position in Cassava Sciences in the third quarter worth about $605,000. 38.05% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, HC Wainwright reaffirmed a “neutral” rating and set a $2.00 price target on shares of Cassava Sciences in a research report on Tuesday, March 25th.

Cassava Sciences Price Performance

Shares of SAVA stock opened at $1.65 on Monday. The company has a market cap of $79.71 million, a price-to-earnings ratio of -1.20 and a beta of -1.24. The firm has a fifty day moving average price of $2.49 and a 200-day moving average price of $11.79. Cassava Sciences, Inc. has a 1 year low of $1.63 and a 1 year high of $42.20.

Cassava Sciences (NASDAQ:SAVA) last released its earnings results on Monday, March 3rd. The company reported ($0.57) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.68) by $0.11. Equities research analysts expect that Cassava Sciences, Inc. will post -3.97 EPS for the current year.

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.