Raymond James & Associates Acquires 13,656 Shares of Cassava Sciences, Inc. (NASDAQ:SAVA)

Raymond James & Associates grew its holdings in shares of Cassava Sciences, Inc. (NASDAQ:SAVA – Get Rating) by 30.3% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 58,686 shares of the company’s stock after buying an additional 13,656 shares during the period. Raymond James & Associates’ holdings in Cassava Sciences were worth $2,454,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of SAVA. SOA Wealth Advisors LLC. lifted its holdings in shares of Cassava Sciences by 679.5% in the 3rd quarter. SOA Wealth Advisors LLC. now owns 608 shares of the company’s stock worth $25,000 after purchasing an additional 530 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of Cassava Sciences by 346.2% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,160 shares of the company’s stock worth $33,000 after purchasing an additional 900 shares in the last quarter. Captrust Financial Advisors lifted its holdings in shares of Cassava Sciences by 484.7% in the 1st quarter. Captrust Financial Advisors now owns 877 shares of the company’s stock worth $33,000 after purchasing an additional 727 shares in the last quarter. Exchange Traded Concepts LLC bought a new position in shares of Cassava Sciences in the 3rd quarter worth $35,000. Finally, Federated Hermes Inc. bought a new position in shares of Cassava Sciences in the 2nd quarter worth $43,000. 25.51% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Cassava Sciences Price Performance

Shares of Cassava Sciences stock opened at $34.84 on Friday. Cassava Sciences, Inc. has a 1 year low of $13.84 and a 1 year high of $62.49. The firm has a market cap of $1.40 billion, a PE ratio of -19.57 and a beta of 0.14. The stock has a fifty day moving average price of $34.37 and a 200-day moving average price of $31.53.

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

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.