Two Sigma Investments LP Acquires 489,936 Shares of Cassava Sciences, Inc. (NASDAQ:SAVA)

Two Sigma Investments LP boosted its position in shares of Cassava Sciences, Inc. (NASDAQ:SAVA - Free Report) by 679.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 562,082 shares of the company's stock after purchasing an additional 489,936 shares during the quarter. Two Sigma Investments LP owned about 1.17% of Cassava Sciences worth $1,327,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sherbrooke Park Advisers LLC bought a new position in shares of Cassava Sciences in the 4th quarter valued at about $117,000. Ensign Peak Advisors Inc boosted its stake in Cassava Sciences by 122.6% in the fourth quarter. Ensign Peak Advisors Inc now owns 36,496 shares of the company's stock valued at $86,000 after acquiring an additional 20,100 shares during the last quarter. Deutsche Bank AG grew its holdings in Cassava Sciences by 42.7% during the 4th quarter. Deutsche Bank AG now owns 36,571 shares of the company's stock worth $86,000 after acquiring an additional 10,940 shares during the period. BNP Paribas Financial Markets grew its holdings in Cassava Sciences by 638.0% during the 4th quarter. BNP Paribas Financial Markets now owns 64,561 shares of the company's stock worth $152,000 after acquiring an additional 55,813 shares during the period. Finally, Northern Trust Corp raised its position in shares of Cassava Sciences by 2.7% during the 4th quarter. Northern Trust Corp now owns 406,562 shares of the company's stock valued at $959,000 after acquiring an additional 10,782 shares during the last quarter. 38.05% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, HC Wainwright restated a "neutral" rating and issued a $2.00 price target on shares of Cassava Sciences in a research report on Tuesday, March 25th.

Cassava Sciences Stock Performance

SAVA traded up $0.07 during midday trading on Friday, reaching $2.19. 1,062,689 shares of the company were exchanged, compared to its average volume of 3,006,529. The stock has a market capitalization of $105.79 million, a P/E ratio of -1.59 and a beta of -2.00. Cassava Sciences, Inc. has a one year low of $1.15 and a one year high of $42.20. The stock's 50-day simple moving average is $1.69 and its 200 day simple moving average is $3.02.

Cassava Sciences (NASDAQ:SAVA - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.48) earnings per share for the quarter. On average, research analysts anticipate that Cassava Sciences, Inc. will post -3.97 earnings per share for the current 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.