Geode Capital Management LLC Grows Stock Holdings in Cassava Sciences, Inc. (NASDAQ:SAVA)

Geode Capital Management LLC grew its holdings in Cassava Sciences, Inc. (NASDAQ:SAVA) by 4.3% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,008,593 shares of the company’s stock after buying an additional 41,289 shares during the period. Geode Capital Management LLC’s holdings in Cassava Sciences were worth $29,688,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. KBC Group NV purchased a new stake in Cassava Sciences during the 3rd quarter valued at $57,000. Quest Partners LLC raised its stake in shares of Cassava Sciences by 117.8% in the third quarter. Quest Partners LLC now owns 1,997 shares of the company’s stock valued at $59,000 after acquiring an additional 1,080 shares during the period. Creative Planning bought a new stake in shares of Cassava Sciences in the 3rd quarter worth about $201,000. McAdam LLC purchased a new position in shares of Cassava Sciences during the 3rd quarter worth about $208,000. Finally, Independent Advisor Alliance bought a new position in Cassava Sciences during the 3rd quarter valued at about $208,000. 38.05% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Cassava Sciences

In other Cassava Sciences news, CFO Eric Schoen sold 59,800 shares of the firm’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $3.86, for a total transaction of $230,828.00. Following the transaction, the chief financial officer now directly owns 11,500 shares in the company, valued at $44,390. This trade represents a 83.87 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 12.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

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

Cassava Sciences Stock Up 10.7 %

SAVA opened at $2.59 on Friday. The business has a fifty day moving average of $15.99 and a 200 day moving average of $20.41. The stock has a market cap of $124.60 million, a P/E ratio of -1.88 and a beta of -0.85. Cassava Sciences, Inc. has a 52-week low of $2.23 and a 52-week high of $42.20.

Cassava Sciences (NASDAQ:SAVA) last issued its earnings results on Thursday, November 7th. The company reported ($0.58) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.37) by $0.79. During the same quarter in the previous year, the business earned ($0.61) EPS. Equities analysts anticipate that Cassava Sciences, Inc. will post -3.97 EPS for the current fiscal 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.