Goldman Sachs Group Inc. Boosts Stake in Cassava Sciences, Inc. $SAVA

Key Points

• Goldman Sachs Group Inc. increased its stake in Cassava Sciences by 77.9%, owning approximately 1.03% of the company worth $744,000 as of the latest SEC filing.
• Several institutional investors, including Deutsche Bank and Federated Hermes, have also significantly increased their holdings in Cassava Sciences, indicating strong interest in the stock.
• Cassava Sciences reported a quarterly EPS of ($0.18) and analysts predict an adjusted EPS of -3.97 for the current year.

Goldman Sachs Group Inc. boosted its holdings in Cassava Sciences, Inc. (NASDAQ:SAVA - Free Report) by 77.9% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 496,313 shares of the company's stock after acquiring an additional 217,404 shares during the quarter. Goldman Sachs Group Inc. owned about 1.03% of Cassava Sciences worth $744,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. Deutsche Bank AG increased its holdings in shares of Cassava Sciences by 42.7% in the 4th quarter. Deutsche Bank AG now owns 36,571 shares of the company's stock valued at $86,000 after purchasing an additional 10,940 shares in the last quarter. Federated Hermes Inc. grew its position in Cassava Sciences by 426.9% during the first quarter. Federated Hermes Inc. now owns 37,410 shares of the company's stock worth $56,000 after buying an additional 30,310 shares during the period. Apollon Wealth Management LLC grew its position in Cassava Sciences by 30.0% during the first quarter. Apollon Wealth Management LLC now owns 40,237 shares of the company's stock worth $60,000 after buying an additional 9,288 shares during the period. BNP Paribas Financial Markets increased its holdings 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 buying an additional 55,813 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Cassava Sciences by 23.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 75,084 shares of the company's stock valued at $177,000 after acquiring an additional 14,190 shares during the period. 38.05% of the stock is currently owned by hedge funds and other institutional investors.

Cassava Sciences Price Performance

Shares of NASDAQ:SAVA opened at $3.41 on Wednesday. The firm has a market capitalization of $164.74 million, a price-to-earnings ratio of -1.34 and a beta of -2.06. The business's 50 day simple moving average is $2.27 and its 200-day simple moving average is $2.03. Cassava Sciences, Inc. has a 12 month low of $1.15 and a 12 month high of $33.98.

Cassava Sciences (NASDAQ:SAVA - Get Free Report) last issued its quarterly earnings data on Thursday, August 14th. The company reported ($0.18) earnings per share (EPS) for the quarter. On average, equities analysts anticipate that Cassava Sciences, Inc. will post -3.97 earnings per share for the current year.

Insider Activity

In other Cassava Sciences news, CEO Richard Barry acquired 190,633 shares of the firm's stock in a transaction that occurred on Thursday, September 18th. The shares were acquired at an average cost of $2.24 per share, for a total transaction of $427,017.92. Following the transaction, the chief executive officer directly owned 660,195 shares of the company's stock, valued at approximately $1,478,836.80. This represents a 40.60% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Over the last three months, insiders acquired 245,113 shares of company stock worth $551,705. Insiders own 12.20% of the company's stock.

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.

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