NBC Securities Inc. Raises Stake in Cassava Sciences, Inc. (NASDAQ:SAVA)

NBC Securities Inc. increased its stake in Cassava Sciences, Inc. (NASDAQ:SAVA) by 26.1% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,650 shares of the company’s stock after purchasing an additional 2,000 shares during the quarter. NBC Securities Inc.’s holdings in Cassava Sciences were worth $283,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Creative Planning purchased a new position in Cassava Sciences in the third quarter valued at about $201,000. SG Americas Securities LLC acquired a new stake in shares of Cassava Sciences in the 3rd quarter worth approximately $514,000. Aristides Capital LLC purchased a new position in Cassava Sciences in the 2nd quarter valued at approximately $201,000. The Manufacturers Life Insurance Company raised its holdings in Cassava Sciences by 11.7% during the second quarter. The Manufacturers Life Insurance Company now owns 22,700 shares of the company’s stock worth $280,000 after purchasing an additional 2,377 shares during the last quarter. Finally, Dark Forest Capital Management LP purchased a new stake in Cassava Sciences during the second quarter worth $131,000. Institutional investors and hedge funds own 38.05% of the company’s stock.

Cassava Sciences Stock Performance

Cassava Sciences stock opened at $29.00 on Friday. Cassava Sciences, Inc. has a fifty-two week low of $8.79 and a fifty-two week high of $42.20. The company has a market capitalization of $1.39 billion, a price-to-earnings ratio of -20.57 and a beta of -0.63. The stock has a fifty day moving average of $28.16 and a two-hundred day moving average of $22.51.

Cassava Sciences (NASDAQ:SAVA) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.57. During the same period in the previous year, the firm posted ($0.63) EPS. On average, analysts forecast that Cassava Sciences, Inc. will post -5.7 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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