Janney Montgomery Scott LLC Acquires Shares of 13,303 Cassava Sciences, Inc. (NASDAQ:SAVA)

Janney Montgomery Scott LLC bought a new position in Cassava Sciences, Inc. (NASDAQ:SAVAGet Rating) in the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 13,303 shares of the company’s stock, valued at approximately $556,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. IVC Wealth Advisors LLC raised its holdings in Cassava Sciences by 2.8% during the 3rd quarter. IVC Wealth Advisors LLC now owns 14,815 shares of the company’s stock valued at $620,000 after acquiring an additional 400 shares during the period. Commonwealth Equity Services LLC lifted its holdings in Cassava Sciences by 5.7% during the 2nd quarter. Commonwealth Equity Services LLC now owns 13,626 shares of the company’s stock worth $383,000 after purchasing an additional 739 shares in the last quarter. Virtus ETF Advisers LLC boosted its stake in Cassava Sciences by 28.6% in the 2nd quarter. Virtus ETF Advisers LLC now owns 4,241 shares of the company’s stock worth $119,000 after purchasing an additional 942 shares during the period. CCG Wealth Management LLC bought a new position in Cassava Sciences in the 3rd quarter worth about $413,000. Finally, Golden Green Inc. purchased a new position in Cassava Sciences during the 3rd quarter valued at about $228,000. Institutional investors own 25.51% of the company’s stock.

Cassava Sciences Stock Up 5.4 %

Shares of NASDAQ SAVA opened at $34.84 on Friday. The stock’s 50-day simple moving average is $34.37 and its two-hundred day simple moving average is $31.53. Cassava Sciences, Inc. has a twelve month low of $13.84 and a twelve month high of $62.49. The firm has a market capitalization of $1.40 billion, a P/E ratio of -19.57 and a beta of 0.14.

Cassava Sciences (NASDAQ:SAVAGet Rating) last announced its earnings results on Monday, November 7th. The company reported ($0.51) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.04). As a group, research analysts anticipate that Cassava Sciences, Inc. will post -1.98 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on SAVA. Univest Sec cut their price objective on shares of Cassava Sciences from $12.00 to $11.00 in a research report on Tuesday, November 29th. B. Riley downgraded shares of Cassava Sciences from a “buy” rating to a “neutral” rating and set a $44.00 price target for the company. in a report on Wednesday, November 16th.

Cassava Sciences Profile

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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 2b clinical trial; and investigational diagnostic product candidate is SavaDx, a blood-based biomarker/diagnostic to detect Alzheimer's disease.

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Institutional Ownership by Quarter for Cassava Sciences (NASDAQ:SAVA)

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