13,303 Shares in Cassava Sciences, Inc. (NASDAQ:SAVA) Acquired by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC purchased a new stake in Cassava Sciences, Inc. (NASDAQ:SAVA - Get Rating) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 13,303 shares of the company's stock, valued at approximately $556,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State Street Corp grew its stake in shares of Cassava Sciences by 8.0% in the first quarter. State Street Corp now owns 1,053,956 shares of the company's stock valued at $39,144,000 after acquiring an additional 77,830 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Cassava Sciences by 94.5% during the second quarter. JPMorgan Chase & Co. now owns 55,866 shares of the company's stock worth $1,570,000 after purchasing an additional 27,148 shares during the period. Raymond James & Associates raised its position in shares of Cassava Sciences by 30.3% in the third quarter. Raymond James & Associates now owns 58,686 shares of the company's stock valued at $2,454,000 after buying an additional 13,656 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Cassava Sciences in the second quarter valued at approximately $325,000. Finally, Leavell Investment Management Inc. acquired a new stake in Cassava Sciences during the second quarter worth approximately $315,000. 25.51% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently weighed in on SAVA shares. Univest Sec cut their target price on Cassava Sciences from $12.00 to $11.00 in a research report on Tuesday, November 29th. B. Riley cut shares of Cassava Sciences from a "buy" rating to a "neutral" rating and set a $44.00 price objective for the company. in a research report on Wednesday, November 16th.

Cassava Sciences Price Performance

Shares of SAVA opened at $34.84 on Friday. The firm has a 50 day simple moving average of $34.37 and a two-hundred day simple moving average of $31.53. Cassava Sciences, Inc. has a one year low of $13.84 and a one year high of $62.49. The company has a market cap of $1.40 billion, a P/E ratio of -19.57 and a beta of 0.14.

Cassava Sciences (NASDAQ:SAVA - Get Rating) last announced its quarterly earnings data on Monday, November 7th. The company reported ($0.51) earnings per share for the quarter, missing the consensus estimate of ($0.47) by ($0.04). On average, analysts expect that Cassava Sciences, Inc. will post -1.98 earnings per share for the current fiscal year.

Cassava Sciences Company Profile

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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 2b clinical trial; and investigational diagnostic product candidate is SavaDx, a blood-based biomarker/diagnostic to detect Alzheimer's disease.

Read More

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