State Street Corp Has $34.22 Million Holdings in Cassava Sciences, Inc. (NASDAQ:SAVA)

State Street Corp decreased its stake in shares of Cassava Sciences, Inc. (NASDAQ:SAVA) by 1.2% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 1,162,749 shares of the company’s stock after selling 14,228 shares during the period. State Street Corp’s holdings in Cassava Sciences were worth $34,220,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of SAVA. KBC Group NV bought a new position in Cassava Sciences during the third quarter worth $57,000. Quest Partners LLC boosted its position in shares of Cassava Sciences by 117.8% during the 3rd 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. Creative Planning acquired a new stake in shares of Cassava Sciences in the 3rd quarter valued at about $201,000. McAdam LLC bought a new stake in Cassava Sciences in the 3rd quarter valued at about $208,000. Finally, Independent Advisor Alliance acquired a new position in Cassava Sciences during the 3rd quarter worth approximately $208,000. Institutional investors own 38.05% of the company’s stock.

Insider Activity at Cassava Sciences

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

Analyst Upgrades and Downgrades

Separately, HC Wainwright lowered Cassava Sciences from a “buy” rating to a “neutral” rating and set a $116.00 target price on the stock. in a research report on Tuesday, November 26th.

Cassava Sciences Price Performance

SAVA opened at $2.35 on Friday. Cassava Sciences, Inc. has a fifty-two week low of $2.23 and a fifty-two week high of $42.20. The firm has a market capitalization of $113.06 million, a PE ratio of -1.70 and a beta of -0.86. The company’s 50-day moving average is $17.55 and its 200 day moving average is $20.78.

Cassava Sciences (NASDAQ:SAVA) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.58) EPS for the quarter, topping the consensus estimate of ($1.37) by $0.79. During the same period in the previous year, the company earned ($0.61) earnings per share. As a group, 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.