SG Americas Securities LLC Makes New Investment in Cassava Sciences, Inc. (NASDAQ:SAVA)

SG Americas Securities LLC bought a new stake in shares of Cassava Sciences, Inc. (NASDAQ:SAVA) in the 3rd quarter, HoldingsChannel.com reports. The firm bought 17,475 shares of the company’s stock, valued at approximately $514,000.

A number of other hedge funds have also made changes to their positions in SAVA. State Board of Administration of Florida Retirement System grew its holdings in Cassava Sciences by 5.7% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 12,149 shares of the company’s stock worth $247,000 after acquiring an additional 650 shares in the last quarter. Commonwealth Equity Services LLC grew its stake in Cassava Sciences by 6.9% in the first quarter. Commonwealth Equity Services LLC now owns 45,067 shares of the company’s stock worth $914,000 after purchasing an additional 2,921 shares in the last quarter. NBC Securities Inc. increased its holdings in Cassava Sciences by 9.3% in the first quarter. NBC Securities Inc. now owns 7,650 shares of the company’s stock valued at $155,000 after buying an additional 650 shares during the last quarter. CANADA LIFE ASSURANCE Co raised its stake in Cassava Sciences by 146.7% during the first quarter. CANADA LIFE ASSURANCE Co now owns 9,408 shares of the company’s stock valued at $191,000 after buying an additional 5,594 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in 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 buying an additional 31,854 shares during the last quarter. Institutional investors and hedge funds own 38.05% of the company’s stock.

Analyst Upgrades and Downgrades

SAVA has been the subject of a number of research analyst reports. HC Wainwright raised Cassava Sciences from a “neutral” rating to a “buy” rating and set a $116.00 price target on the stock in a research report on Tuesday, October 8th. Rodman & Renshaw reiterated a “buy” rating and set a $107.00 target price on shares of Cassava Sciences in a research note on Thursday, August 8th.

Cassava Sciences Stock Up 2.8 %

Shares of SAVA stock opened at $28.26 on Wednesday. The company has a market cap of $1.36 billion, a P/E ratio of -13.02 and a beta of -0.63. The business has a 50 day moving average of $27.96 and a two-hundred day moving average of $22.35. Cassava Sciences, Inc. has a 52 week low of $8.79 and a 52 week high of $42.20.

Cassava Sciences (NASDAQ:SAVA) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.57. During the same period last year, the business posted ($0.63) EPS. Analysts expect that Cassava Sciences, Inc. will post -5.7 EPS for the current fiscal 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.