Swiss National Bank Sells 8,600 Shares of Cassava Sciences, Inc. (NASDAQ:SAVA)

Swiss National Bank lessened its stake in shares of Cassava Sciences, Inc. (NASDAQ:SAVA) by 9.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 78,600 shares of the company’s stock after selling 8,600 shares during the quarter. Swiss National Bank’s holdings in Cassava Sciences were worth $1,769,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the stock. Montag A & Associates Inc. grew its holdings in Cassava Sciences by 50.0% during the third quarter. Montag A & Associates Inc. now owns 1,500 shares of the company’s stock valued at $25,000 after purchasing an additional 500 shares during the last quarter. Headlands Technologies LLC grew its stake in Cassava Sciences by 24,044.4% in the 3rd quarter. Headlands Technologies LLC now owns 2,173 shares of the company’s stock valued at $36,000 after buying an additional 2,164 shares during the last quarter. Byrne Asset Management LLC raised its holdings in Cassava Sciences by 32.9% in the 4th quarter. Byrne Asset Management LLC now owns 3,350 shares of the company’s stock worth $75,000 after acquiring an additional 830 shares during the period. NBC Securities Inc. acquired a new position in Cassava Sciences during the 3rd quarter worth $66,000. Finally, Allspring Global Investments Holdings LLC boosted its holdings in Cassava Sciences by 74.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 4,633 shares of the company’s stock valued at $77,000 after acquiring an additional 1,979 shares during the period. 38.05% of the stock is owned by institutional investors.

Cassava Sciences Price Performance

NASDAQ SAVA opened at $21.72 on Friday. The company’s fifty day moving average is $21.58 and its two-hundred day moving average is $21.35. Cassava Sciences, Inc. has a 52-week low of $12.32 and a 52-week high of $32.10. The firm has a market capitalization of $1.04 billion, a price-to-earnings ratio of -10.01 and a beta of -0.38.

Cassava Sciences (NASDAQ:SAVA) last issued its quarterly earnings results on Wednesday, February 28th. The company reported ($0.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.40) by ($0.10). As a group, sell-side analysts expect that Cassava Sciences, Inc. will post -1.86 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, HC Wainwright boosted their price objective on Cassava Sciences from $124.00 to $131.00 and gave the stock a “buy” rating in a research report on Friday, May 17th.

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.