Intech Investment Management LLC Invests $373,000 in Cassava Sciences, Inc. (NASDAQ:SAVA)

Intech Investment Management LLC bought a new position in Cassava Sciences, Inc. (NASDAQ:SAVA) in the 3rd quarter, HoldingsChannel reports. The fund bought 12,678 shares of the company’s stock, valued at approximately $373,000.

Several other hedge funds and other institutional investors have also modified their holdings of SAVA. Vanguard Group Inc. boosted its position in shares of Cassava Sciences by 1.4% in the first quarter. Vanguard Group Inc. now owns 2,356,480 shares of the company’s stock worth $47,813,000 after buying an additional 31,854 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Cassava Sciences by 4.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 31,327 shares of the company’s stock worth $636,000 after buying an additional 1,456 shares during the period. Brookstone Capital Management boosted its position in shares of Cassava Sciences by 6.0% in the second quarter. Brookstone Capital Management now owns 17,753 shares of the company’s stock worth $219,000 after buying an additional 1,000 shares during the period. Essex LLC boosted its position in Cassava Sciences by 9.2% during the second quarter. Essex LLC now owns 55,318 shares of the company’s stock valued at $683,000 after purchasing an additional 4,644 shares during the last quarter. Finally, Clear Creek Financial Management LLC boosted its position in Cassava Sciences by 5.1% during the second quarter. Clear Creek Financial Management LLC now owns 145,550 shares of the company’s stock valued at $1,798,000 after purchasing an additional 7,025 shares during the last quarter. Institutional investors and hedge funds own 38.05% of the company’s stock.

Cassava Sciences Trading Down 2.6 %

SAVA opened at $3.35 on Wednesday. The stock has a market cap of $161.17 million, a price-to-earnings ratio of -2.43 and a beta of -0.86. Cassava Sciences, Inc. has a 1 year low of $3.25 and a 1 year high of $42.20. The stock has a fifty day moving average price of $23.95 and a 200 day moving average price of $22.52.

Cassava Sciences (NASDAQ:SAVA) last posted its earnings results on Thursday, November 7th. The company reported ($0.58) earnings per share for the quarter, beating the consensus estimate of ($1.37) by $0.79. During the same period in the prior year, the business earned ($0.61) EPS. As a group, sell-side analysts forecast that Cassava Sciences, Inc. will post -3.97 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently issued reports on SAVA. Rodman & Renshaw reissued a “buy” rating and set a $107.00 price objective on shares of Cassava Sciences in a research report on Thursday, August 8th. HC Wainwright cut Cassava Sciences from a “buy” rating to a “neutral” rating and set a $116.00 price objective for the company. in a research report on Tuesday, November 26th.

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 dated 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 12.20% of the company’s stock.

About Cassava Sciences

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.