Gallacher Capital Management LLC lowered its stake in shares of Cassava Sciences, Inc. (NASDAQ:SAVA - Free Report) by 59.7% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 69,660 shares of the company's stock after selling 103,086 shares during the period. Gallacher Capital Management LLC owned approximately 0.14% of Cassava Sciences worth $104,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. CANADA LIFE ASSURANCE Co boosted its stake in Cassava Sciences by 198.4% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 11,380 shares of the company's stock valued at $27,000 after purchasing an additional 7,566 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in Cassava Sciences during the 4th quarter valued at about $27,000. Hsbc Holdings PLC acquired a new position in Cassava Sciences during the 4th quarter valued at about $34,000. Intech Investment Management LLC boosted its stake in shares of Cassava Sciences by 64.8% in the 4th quarter. Intech Investment Management LLC now owns 20,898 shares of the company's stock worth $49,000 after buying an additional 8,220 shares during the last quarter. Finally, Marshall Wace LLP purchased a new position in shares of Cassava Sciences in the 4th quarter worth approximately $50,000. Institutional investors and hedge funds own 38.05% of the company's stock.
Cassava Sciences Price Performance
Shares of NASDAQ SAVA traded down $0.17 during midday trading on Friday, reaching $2.35. The company's stock had a trading volume of 820,088 shares, compared to its average volume of 1,124,483. Cassava Sciences, Inc. has a 12-month low of $1.15 and a 12-month high of $42.20. The firm has a 50 day moving average price of $2.10 and a 200-day moving average price of $2.12. The stock has a market capitalization of $113.53 million, a P/E ratio of -1.57 and a beta of -2.04.
Cassava Sciences (NASDAQ:SAVA - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported ($0.48) earnings per share for the quarter. On average, equities analysts predict that Cassava Sciences, Inc. will post -3.97 EPS for the current year.
Cassava Sciences Profile
(
Free Report)
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.
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