SG Americas Securities LLC Sells 184,073 Shares of Cassava Sciences, Inc. (NASDAQ:SAVA)

SG Americas Securities LLC trimmed its position in Cassava Sciences, Inc. (NASDAQ:SAVA) by 66.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 92,359 shares of the company’s stock after selling 184,073 shares during the period. SG Americas Securities LLC owned approximately 0.22% of Cassava Sciences worth $2,079,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of SAVA. Norges Bank bought a new position in shares of Cassava Sciences during the 4th quarter worth approximately $9,749,000. BlackRock Inc. grew its position in Cassava Sciences by 4.7% in the second quarter. BlackRock Inc. now owns 2,746,908 shares of the company’s stock valued at $67,354,000 after purchasing an additional 124,231 shares in the last quarter. Jump Financial LLC acquired a new stake in Cassava Sciences in the 3rd quarter valued at $1,716,000. State Street Corp lifted its position in Cassava Sciences by 8.0% during the 1st quarter. State Street Corp now owns 1,053,956 shares of the company’s stock worth $39,144,000 after buying an additional 77,830 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC acquired a new position in shares of Cassava Sciences during the 1st quarter worth about $1,645,000. 38.05% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Cassava Sciences Stock Up 3.6 %

NASDAQ:SAVA opened at $20.42 on Thursday. Cassava Sciences, Inc. has a twelve month low of $12.32 and a twelve month high of $32.10. The firm has a market capitalization of $882.55 million, a price-to-earnings ratio of -8.80 and a beta of -0.42. The stock’s 50 day moving average price is $22.79 and its two-hundred day moving average price is $18.77.

Cassava Sciences (NASDAQ:SAVA) last released its earnings results on Wednesday, February 28th. The company reported ($0.50) earnings per share for the quarter, missing the consensus estimate of ($0.40) by ($0.10). As a group, analysts anticipate that Cassava Sciences, Inc. will post -2.01 earnings per share for the current year.

Cassava Sciences Company 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.