BNP Paribas Financial Markets Increases Stock Position in Cassava Sciences, Inc. (NASDAQ:SAVA)

BNP Paribas Financial Markets grew its stake in Cassava Sciences, Inc. (NASDAQ:SAVA) by 150.1% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 8,748 shares of the company’s stock after acquiring an additional 5,250 shares during the period. BNP Paribas Financial Markets’ holdings in Cassava Sciences were worth $257,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the stock. KBC Group NV purchased a new position in Cassava Sciences during the 3rd quarter valued at about $57,000. Quest Partners LLC lifted its position in shares of Cassava Sciences by 117.8% during the third quarter. Quest Partners LLC now owns 1,997 shares of the company’s stock worth $59,000 after purchasing an additional 1,080 shares in the last quarter. Dark Forest Capital Management LP purchased a new position in shares of Cassava Sciences in the second quarter valued at approximately $131,000. Arizona State Retirement System grew its holdings in shares of Cassava Sciences by 4.2% in the second quarter. Arizona State Retirement System now owns 11,495 shares of the company’s stock valued at $142,000 after purchasing an additional 468 shares in the last quarter. Finally, Profund Advisors LLC increased its stake in Cassava Sciences by 4.6% during the 2nd quarter. Profund Advisors LLC now owns 13,440 shares of the company’s stock worth $166,000 after buying an additional 591 shares during the period. 38.05% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Eric Schoen sold 59,800 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $3.86, for a total transaction of $230,828.00. Following the completion of the sale, the chief financial officer now owns 11,500 shares in the company, valued at approximately $44,390. The trade was a 83.87 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 9.00% of the company’s stock.

Wall Street Analyst Weigh In

Separately, HC Wainwright downgraded shares of Cassava Sciences from a “buy” rating to a “neutral” rating and set a $116.00 price target for the company. in a research note on Tuesday, November 26th.

Cassava Sciences Price Performance

SAVA stock opened at $2.66 on Tuesday. The business’s 50-day moving average is $19.40 and its two-hundred day moving average is $21.32. Cassava Sciences, Inc. has a 1 year low of $2.64 and a 1 year high of $42.20. The firm has a market capitalization of $127.97 million, a P/E ratio of -1.93 and a beta of -0.86.

Cassava Sciences (NASDAQ:SAVA) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.58) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.37) by $0.79. During the same quarter last year, the business earned ($0.61) earnings per share. On average, analysts expect that Cassava Sciences, Inc. will post -3.97 EPS for the current year.

Cassava Sciences 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.