Cambridge Investment Research Advisors Inc. Acquires 806 Shares of Cassava Sciences, Inc. (NASDAQ:SAVA)

Cambridge Investment Research Advisors Inc. boosted its holdings in Cassava Sciences, Inc. (NASDAQ:SAVAGet Rating) by 5.8% during the third quarter, HoldingsChannel.com reports. The fund owned 14,608 shares of the company’s stock after purchasing an additional 806 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Cassava Sciences were worth $611,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Kestra Private Wealth Services LLC acquired a new stake in Cassava Sciences during the first quarter valued at approximately $1,170,000. IVC Wealth Advisors LLC lifted its position in shares of Cassava Sciences by 2.8% during the 3rd quarter. IVC Wealth Advisors LLC now owns 14,815 shares of the company’s stock worth $620,000 after buying an additional 400 shares during the period. Commonwealth Equity Services LLC boosted its stake in Cassava Sciences by 5.7% in the 2nd quarter. Commonwealth Equity Services LLC now owns 13,626 shares of the company’s stock valued at $383,000 after buying an additional 739 shares in the last quarter. Virtus ETF Advisers LLC boosted its stake in Cassava Sciences by 28.6% in the 2nd quarter. Virtus ETF Advisers LLC now owns 4,241 shares of the company’s stock valued at $119,000 after buying an additional 942 shares in the last quarter. Finally, Golden Green Inc. acquired a new position in Cassava Sciences during the third quarter worth $228,000. Institutional investors own 25.51% of the company’s stock.

Cassava Sciences Price Performance

NASDAQ SAVA opened at $28.57 on Monday. The stock’s 50 day simple moving average is $34.76 and its 200 day simple moving average is $31.22. Cassava Sciences, Inc. has a one year low of $13.84 and a one year high of $62.49. The firm has a market cap of $1.14 billion, a PE ratio of -16.05 and a beta of 0.14.

Cassava Sciences (NASDAQ:SAVAGet Rating) last announced its earnings results on Monday, November 7th. The company reported ($0.51) EPS for the quarter, missing the consensus estimate of ($0.47) by ($0.04). As a group, equities analysts expect that Cassava Sciences, Inc. will post -1.98 earnings per share for the current year.

Analyst Upgrades and Downgrades

SAVA has been the topic of several recent analyst reports. B. Riley downgraded shares of Cassava Sciences from a “buy” rating to a “neutral” rating and set a $44.00 target price on the stock. in a research note on Wednesday, November 16th. Univest Sec reduced their price target on shares of Cassava Sciences from $12.00 to $11.00 in a research report on Tuesday, November 29th.

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.

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Institutional Ownership by Quarter for Cassava Sciences (NASDAQ:SAVA)

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