Swiss National Bank Has $2.72 Million Holdings in Cassava Sciences, Inc. (NASDAQ:SAVA)

Swiss National Bank grew its stake in Cassava Sciences, Inc. (NASDAQ:SAVA – Get Rating) by 2.3% in the 4th quarter, Holdings Channel reports. The institutional investor owned 91,900 shares of the company’s stock after buying an additional 2,100 shares during the quarter. Swiss National Bank’s holdings in Cassava Sciences were worth $2,715,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Arizona State Retirement System boosted its holdings in shares of Cassava Sciences by 3.9% in the fourth quarter. Arizona State Retirement System now owns 10,749 shares of the company’s stock valued at $318,000 after buying an additional 402 shares during the period. IVC Wealth Advisors LLC lifted its position in shares of Cassava Sciences by 3.3% in the fourth quarter. IVC Wealth Advisors LLC now owns 15,298 shares of the company’s stock worth $452,000 after purchasing an additional 483 shares in the last quarter. Byrne Asset Management LLC lifted 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 purchasing an additional 511 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of Cassava Sciences in the third quarter worth $25,000. Finally, Bank of New York Mellon Corp lifted its position in shares of Cassava Sciences by 0.6% in the first quarter. Bank of New York Mellon Corp now owns 122,993 shares of the company’s stock worth $4,568,000 after purchasing an additional 712 shares in the last quarter. Institutional investors and hedge funds own 25.51% of the company’s stock.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other news, Director Richard Barry purchased 11,565 shares of the company’s stock in a transaction on Monday, March 6th. The shares were purchased at an average cost of $26.13 per share, with a total value of $302,193.45. Following the completion of the transaction, the director now owns 197,724 shares of the company’s stock, valued at approximately $5,166,528.12. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 10.10% of the company’s stock.

Cassava Sciences Trading Up 0.4 %

NASDAQ SAVA opened at $25.31 on Wednesday. The firm’s fifty day moving average price is $24.23 and its two-hundred day moving average price is $29.03. Cassava Sciences, Inc. has a 1 year low of $13.84 and a 1 year high of $51.59. The firm has a market capitalization of $1.06 billion, a P/E ratio of -12.41 and a beta of -0.15.

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

Cassava Sciences Company Profile

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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.