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 bought a new stake in shares of Cassava Sciences, Inc. (NASDAQ:SAVA - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 450,100 shares of the company's stock, valued at approximately $675,000. GMT Capital Corp owned 0.93% of Cassava Sciences as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of SAVA. Two Sigma Advisers LP acquired a new stake in shares of Cassava Sciences during the 4th quarter valued at $1,432,000. Two Sigma Investments LP lifted its stake 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 last quarter. Raymond James Financial Inc. acquired a new stake in Cassava Sciences in the fourth quarter valued at approximately $147,000. BNP Paribas Financial Markets lifted its stake 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 last quarter. Finally, Sherbrooke Park Advisers LLC acquired a new stake in Cassava Sciences in the fourth quarter valued at approximately $117,000. Institutional investors and hedge funds own 38.05% of the company's stock.

Cassava Sciences Trading Down 4.2%

NASDAQ SAVA traded down $0.10 during trading on Monday, reaching $2.28. The company's stock had a trading volume of 386,165 shares, compared to its average volume of 720,491. The stock has a market capitalization of $110.15 million, a PE ratio of -0.89 and a beta of -2.06. The business has a 50-day moving average price of $2.18 and a 200-day moving average price of $2.07. Cassava Sciences, Inc. has a 1-year low of $1.15 and a 1-year high of $33.98.

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

Cassava Sciences 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.