Cubist Systematic Strategies LLC Buys New Position in Cassava Sciences, Inc. (NASDAQ:SAVA)

Cubist Systematic Strategies LLC bought a new stake in shares of Cassava Sciences, Inc. (NASDAQ:SAVA – Get Rating) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 18,036 shares of the company’s stock, valued at approximately $754,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of SAVA. SOA Wealth Advisors LLC. boosted its holdings in Cassava Sciences by 679.5% during the 3rd quarter. SOA Wealth Advisors LLC. now owns 608 shares of the company’s stock valued at $25,000 after acquiring an additional 530 shares during the period. Allspring Global Investments Holdings LLC purchased a new position in shares of Cassava Sciences in the 3rd quarter valued at about $25,000. Nisa Investment Advisors LLC boosted its stake in shares of Cassava Sciences by 346.2% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,160 shares of the company’s stock valued at $33,000 after buying an additional 900 shares during the period. Captrust Financial Advisors boosted its stake in shares of Cassava Sciences by 484.7% in the 1st quarter. Captrust Financial Advisors now owns 877 shares of the company’s stock valued at $33,000 after buying an additional 727 shares during the period. Finally, Exchange Traded Concepts LLC purchased a new position in shares of Cassava Sciences in the 3rd quarter valued at about $35,000. 25.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. B. Riley decreased their price objective on Cassava Sciences from $44.00 to $28.00 in a research note on Wednesday, January 25th. Univest Sec decreased their price objective on Cassava Sciences from $12.00 to $11.00 in a research note on Tuesday, November 29th. Finally, HC Wainwright restated a “buy” rating and set a $124.00 target price on shares of Cassava Sciences in a research note on Monday, March 6th.

Insider Buying and Selling

In other news, Director Richard Barry purchased 11,565 shares of the business’s stock in a transaction on Monday, March 6th. The shares were bought at an average price of $26.13 per share, with a total value of $302,193.45. Following the completion of the transaction, the director now directly owns 197,724 shares in the company, valued at approximately $5,166,528.12. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 10.10% of the stock is owned by company insiders.

Cassava Sciences Stock Up 0.4 %

SAVA stock opened at $24.90 on Friday. The business has a 50 day moving average price of $28.69 and a 200 day moving average price of $32.82. The stock has a market cap of $1.04 billion, a price-to-earnings ratio of -13.11 and a beta of -0.10. Cassava Sciences, Inc. has a fifty-two week low of $13.84 and a fifty-two week high of $51.59.

Cassava Sciences Profile

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Cassava Sciences, Inc engages in the development of novel drugs and diagnostics. It focuses on developing product candidates intended for the treatment of Alzheimer’s disease, including PTI-125 and PTI-125Dx. The company was founded by Remi Barbier and Barry M. Sherman in May 1998 and is headquartered in Austin, TX.