Cassava Sciences, Inc. (NASDAQ:SAVA) Stock Position Raised by Arizona State Retirement System

Arizona State Retirement System lifted its stake in shares of Cassava Sciences, Inc. (NASDAQ:SAVA – Get Rating) by 3.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,749 shares of the company’s stock after acquiring an additional 402 shares during the quarter. Arizona State Retirement System’s holdings in Cassava Sciences were worth $318,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of SAVA. Allspring Global Investments Holdings LLC acquired a new stake in shares of Cassava Sciences in the third quarter worth $25,000. Captrust Financial Advisors boosted its position in shares of Cassava Sciences by 484.7% in the first quarter. Captrust Financial Advisors now owns 877 shares of the company’s stock worth $33,000 after buying an additional 727 shares during the period. Cowen Prime Advisors LLC acquired a new stake in shares of Cassava Sciences in the fourth quarter worth $34,000. Point72 Hong Kong Ltd acquired a new stake in shares of Cassava Sciences in the third quarter worth $43,000. Finally, Byrne Asset Management LLC boosted its position in shares of Cassava Sciences by 23.4% in the fourth quarter. Byrne Asset Management LLC now owns 2,694 shares of the company’s stock worth $80,000 after buying an additional 511 shares during the period. 25.51% of the stock is owned by institutional investors.

Cassava Sciences Price Performance

Shares of NASDAQ:SAVA opened at $25.22 on Tuesday. Cassava Sciences, Inc. has a fifty-two week low of $13.84 and a fifty-two week high of $51.59. The business has a 50-day moving average of $24.24 and a two-hundred day moving average of $29.10. The stock has a market capitalization of $1.05 billion, a P/E ratio of -12.36 and a beta of -0.15.

Cassava Sciences (NASDAQ:SAVA – Get Rating) last announced its quarterly earnings results on Monday, May 1st. The company reported ($0.58) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.02). As a group, research analysts expect that Cassava Sciences, Inc. will post 0.84 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently commented on SAVA. B. Riley decreased their target price on Cassava Sciences from $44.00 to $28.00 in a research report on Wednesday, January 25th. HC Wainwright reaffirmed a “buy” rating and issued a $124.00 target price on shares of Cassava Sciences in a research report on Monday, March 6th.

Insiders Place Their Bets

In related news, Director Richard Barry purchased 11,565 shares of Cassava Sciences stock in a transaction on Monday, March 6th. The stock was bought at an average price of $26.13 per share, with a total value of $302,193.45. Following the completion of the transaction, the director now directly owns 197,724 shares of the company’s stock, valued at $5,166,528.12. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 9.00% of the company’s stock.

About Cassava Sciences

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Cassava Sciences, Inc engages in the development of novel drugs and diagnostics. It focuses on developing product candidates intended for the treatment of Alzheimer’s disease, including PTI-125 and PTI-125Dx. The company was founded by Remi Barbier in May 1998 and is headquartered in Austin, TX.