GMT Capital Corp Buys Shares of 450,100 Cassava Sciences, Inc. $SAVA

Key Points

• GMT Capital Corp has acquired a new position in Cassava Sciences, purchasing 450,100 shares valued at approximately $675,000, which represents about 0.93% of the company's stock as of its latest SEC filing.
• Cassava Sciences shares opened at $2.28, with a market capitalization of $110.15 million, while it has experienced a significant range in its 52-week performance from a low of $1.15 to a high of $33.98.
• Analysts believe that Cassava Sciences may have a potential upside of 300%, indicating significant optimism for the company's future financial performance.

GMT Capital Corp purchased a new stake in Cassava Sciences, Inc. (NASDAQ:SAVA - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 450,100 shares of the company's stock, valued at approximately $675,000. GMT Capital Corp owned 0.93% of Cassava Sciences at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of SAVA. Two Sigma Advisers LP bought a new stake in Cassava Sciences in the fourth quarter valued at $1,432,000. Two Sigma Investments LP grew its position in Cassava Sciences by 679.1% in the fourth quarter. Two Sigma Investments LP now owns 562,082 shares of the company's stock valued at $1,327,000 after acquiring an additional 489,936 shares during the period. Raymond James Financial Inc. bought a new stake in Cassava Sciences in the fourth quarter valued at $147,000. BNP Paribas Financial Markets grew its position in Cassava Sciences by 638.0% in the fourth quarter. BNP Paribas Financial Markets now owns 64,561 shares of the company's stock valued at $152,000 after acquiring an additional 55,813 shares during the period. Finally, Sherbrooke Park Advisers LLC bought a new stake in Cassava Sciences in the fourth quarter valued at $117,000. 38.05% of the stock is currently owned by institutional investors.

Cassava Sciences Stock Down 3.4%

NASDAQ:SAVA traded down $0.08 during trading hours on Thursday, reaching $2.14. The company had a trading volume of 244,675 shares, compared to its average volume of 1,370,604. The stock has a 50-day moving average of $2.20 and a two-hundred day moving average of $2.07. Cassava Sciences, Inc. has a one year low of $1.15 and a one year high of $33.98. The firm has a market capitalization of $103.14 million, a PE ratio of -0.84 and a beta of -2.06.

Cassava Sciences (NASDAQ:SAVA - Get Free Report) last announced its quarterly earnings results on Thursday, August 14th. The company reported ($0.18) earnings per share for the quarter. As a group, sell-side analysts expect that Cassava Sciences, Inc. will post -3.97 earnings per share for the current year.

Cassava Sciences Company Profile

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.