Raymond James Financial Services Advisors Inc. Lowers Position in Cassava Sciences, Inc. (NASDAQ:SAVA)

Raymond James Financial Services Advisors Inc. lessened its holdings in Cassava Sciences, Inc. (NASDAQ:SAVA) by 30.4% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,066 shares of the company’s stock after selling 4,399 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Cassava Sciences were worth $227,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Montag A & Associates Inc. raised its position in shares of Cassava Sciences by 50.0% in the third quarter. Montag A & Associates Inc. now owns 1,500 shares of the company’s stock worth $25,000 after buying an additional 500 shares in the last quarter. Impact Partnership Wealth LLC purchased a new stake in shares of Cassava Sciences in the third quarter worth $25,000. Headlands Technologies LLC raised its position in shares of Cassava Sciences by 24,044.4% in the third quarter. Headlands Technologies LLC now owns 2,173 shares of the company’s stock worth $36,000 after buying an additional 2,164 shares in the last quarter. NBC Securities Inc. purchased a new stake in shares of Cassava Sciences in the third quarter worth $66,000. Finally, Allspring Global Investments Holdings LLC raised its position in shares of Cassava Sciences by 74.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 4,633 shares of the company’s stock worth $77,000 after buying an additional 1,979 shares in the last quarter. Hedge funds and other institutional investors own 38.05% of the company’s stock.

Analyst Ratings Changes

Separately, HC Wainwright restated a “buy” rating and set a $124.00 price target on shares of Cassava Sciences in a research report on Tuesday, March 5th.

Cassava Sciences Stock Up 0.9 %

NASDAQ SAVA opened at $20.74 on Thursday. The stock’s 50-day simple moving average is $21.50 and its two-hundred day simple moving average is $19.95. Cassava Sciences, Inc. has a twelve month low of $12.32 and a twelve month high of $32.10. The company has a market capitalization of $897.01 million, a price-to-earnings ratio of -8.94 and a beta of -0.45.

Cassava Sciences (NASDAQ:SAVA) last released its quarterly earnings results on Wednesday, February 28th. The company reported ($0.50) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.10). On average, equities analysts expect that Cassava Sciences, Inc. will post -2.01 earnings per share for the current fiscal year.

Cassava Sciences Profile

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