Cetera Advisor Networks LLC lifted its position in shares of Cassava Sciences, Inc. (NASDAQ:SAVA) by 98.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 32,660 shares of the company’s stock after buying an additional 16,200 shares during the quarter. Cetera Advisor Networks LLC owned about 0.13% of Cassava Sciences worth $223,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. First Midwest Bank Trust Division boosted its position in Cassava Sciences by 2.3% during the fourth quarter. First Midwest Bank Trust Division now owns 159,878 shares of the company’s stock valued at $1,091,000 after acquiring an additional 3,566 shares during the last quarter. Morgan Stanley lifted its stake in shares of Cassava Sciences by 15.2% in the 3rd quarter. Morgan Stanley now owns 33,573 shares of the company’s stock valued at $386,000 after purchasing an additional 4,440 shares during the period. American International Group Inc. boosted its position in shares of Cassava Sciences by 37.1% during the 4th quarter. American International Group Inc. now owns 19,004 shares of the company’s stock valued at $130,000 after purchasing an additional 5,146 shares in the last quarter. Citigroup Inc. grew its stake in Cassava Sciences by 466.6% during the fourth quarter. Citigroup Inc. now owns 6,312 shares of the company’s stock worth $43,000 after purchasing an additional 5,198 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in Cassava Sciences by 14.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 56,937 shares of the company’s stock worth $656,000 after purchasing an additional 7,000 shares in the last quarter. Institutional investors own 26.65% of the company’s stock.
NASDAQ SAVA opened at $41.46 on Thursday. The company has a market cap of $1.65 billion, a P/E ratio of -172.75 and a beta of 1.47. The company has a fifty day simple moving average of $50.33 and a 200 day simple moving average of $22.96. Cassava Sciences, Inc. has a 12-month low of $1.63 and a 12-month high of $117.54.
SAVA has been the subject of several research analyst reports. Zacks Investment Research lowered shares of Cassava Sciences from a “buy” rating to a “hold” rating in a research note on Friday, March 26th. Cantor Fitzgerald upped their price objective on shares of Cassava Sciences from $24.00 to $72.00 and gave the company an “overweight” rating in a report on Tuesday, March 16th. Finally, Jonestrading reissued a “buy” rating on shares of Cassava Sciences in a research report on Tuesday, March 23rd. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $38.75.
Cassava Sciences Profile
Cassava Sciences, Inc, a clinical stage biotechnology company, develops drugs for nervous system disorders. Its lead therapeutic product candidate is PTI-125, a small molecule drug, which is completed Phase 2b clinical trial; and investigational diagnostic product candidate is SavaDx, a blood-based biomarker/diagnostic to detect Alzheimer's disease.
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