Wellington Management Group LLP Acquires New Holdings in Cassava Sciences, Inc. (NASDAQ:SAVA)

Wellington Management Group LLP bought a new position in shares of Cassava Sciences, Inc. (NASDAQ:SAVA) during the 3rd quarter, Holdings Channel reports. The institutional investor bought 20,554 shares of the company’s stock, valued at approximately $605,000.

Other hedge funds have also recently bought and sold shares of the company. KBC Group NV bought a new stake in shares of Cassava Sciences during the third quarter worth $57,000. Quest Partners LLC boosted its stake in Cassava Sciences by 117.8% in the 3rd quarter. Quest Partners LLC now owns 1,997 shares of the company’s stock worth $59,000 after purchasing an additional 1,080 shares during the period. Creative Planning acquired a new position in Cassava Sciences in the 3rd quarter worth $201,000. McAdam LLC bought a new position in Cassava Sciences during the 3rd quarter worth about $208,000. Finally, Independent Advisor Alliance acquired a new stake in shares of Cassava Sciences in the 3rd quarter valued at about $208,000. 38.05% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Insider Activity at Cassava Sciences

In other news, CFO Eric Schoen sold 59,800 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $3.86, for a total transaction of $230,828.00. Following the sale, the chief financial officer now owns 11,500 shares in the company, valued at $44,390. This represents a 83.87 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders own 12.20% of the company’s stock.

Cassava Sciences Stock Up 2.6 %

Shares of SAVA stock opened at $2.35 on Friday. Cassava Sciences, Inc. has a 12 month low of $2.23 and a 12 month high of $42.20. The company’s fifty day simple moving average is $17.55 and its 200-day simple moving average is $20.78. The firm has a market cap of $113.06 million, a PE ratio of -1.70 and a beta of -0.86.

Cassava Sciences (NASDAQ:SAVA) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.58) EPS for the quarter, topping the consensus estimate of ($1.37) by $0.79. During the same quarter in the prior year, the firm earned ($0.61) EPS. On average, equities analysts predict that Cassava Sciences, Inc. will post -3.97 earnings per share 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.