Raymond James Financial Services Advisors Inc. Decreases Holdings in Cassava Sciences, Inc. (NASDAQ:SAVA)

Raymond James Financial Services Advisors Inc. trimmed its holdings in shares of Cassava Sciences, Inc. (NASDAQ:SAVA) by 30.4% during the 4th quarter, Holdings Channel reports. The institutional investor owned 10,066 shares of the company’s stock after selling 4,399 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Cassava Sciences were worth $227,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Jump Financial LLC purchased a new stake in Cassava Sciences in the 3rd quarter worth about $1,716,000. Vanguard Group Inc. raised its position in Cassava Sciences by 0.8% in the 3rd quarter. Vanguard Group Inc. now owns 2,268,566 shares of the company’s stock worth $37,749,000 after purchasing an additional 18,907 shares during the period. Quantbot Technologies LP purchased a new stake in Cassava Sciences in the 3rd quarter worth about $268,000. Raymond James & Associates raised its position in Cassava Sciences by 19.8% in the 3rd quarter. Raymond James & Associates now owns 73,532 shares of the company’s stock worth $1,224,000 after purchasing an additional 12,129 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in Cassava Sciences by 3.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 304,721 shares of the company’s stock worth $5,071,000 after purchasing an additional 9,314 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 SAVA stock opened at $20.74 on Thursday. The company has a market capitalization of $897.01 million, a P/E ratio of -8.94 and a beta of -0.45. The company’s 50-day simple moving average is $21.50 and its two-hundred day simple moving average is $19.95. Cassava Sciences, Inc. has a one year low of $12.32 and a one year high of $32.10.

Cassava Sciences (NASDAQ:SAVA) last issued its earnings results on Wednesday, February 28th. The company reported ($0.50) EPS for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.10). On average, research analysts expect that Cassava Sciences, Inc. will post -2.01 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reissued a “buy” rating and issued a $124.00 price objective on shares of Cassava Sciences in a research report on Tuesday, March 5th.

Cassava Sciences Company 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.