Intech Investment Management LLC Acquires 8,220 Shares of Cassava Sciences, Inc. (NASDAQ:SAVA)

Intech Investment Management LLC raised its holdings in shares of Cassava Sciences, Inc. (NASDAQ:SAVA) by 64.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,898 shares of the company’s stock after purchasing an additional 8,220 shares during the quarter. Intech Investment Management LLC’s holdings in Cassava Sciences were worth $49,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in SAVA. Quest Partners LLC boosted its position in Cassava Sciences by 117.8% in the 3rd quarter. Quest Partners LLC now owns 1,997 shares of the company’s stock valued at $59,000 after buying an additional 1,080 shares during the period. Johnson Investment Counsel Inc. raised its stake in shares of Cassava Sciences by 71.4% during the fourth quarter. Johnson Investment Counsel Inc. now owns 12,000 shares of the company’s stock valued at $28,000 after acquiring an additional 5,000 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of Cassava Sciences by 150.1% in the third quarter. BNP Paribas Financial Markets now owns 8,748 shares of the company’s stock valued at $257,000 after purchasing an additional 5,250 shares during the period. Independent Advisor Alliance purchased a new stake in shares of Cassava Sciences in the third quarter valued at approximately $208,000. Finally, Charles Schwab Investment Management Inc. grew its stake in Cassava Sciences by 3.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 361,797 shares of the company’s stock worth $10,648,000 after purchasing an additional 10,429 shares in the last quarter. 38.05% of the stock is currently owned by institutional investors.

Cassava Sciences Stock Performance

NASDAQ SAVA opened at $1.65 on Friday. Cassava Sciences, Inc. has a one year low of $1.63 and a one year high of $42.20. The company has a market capitalization of $79.71 million, a price-to-earnings ratio of -1.20 and a beta of -1.24. The company’s 50-day simple moving average is $2.49 and its two-hundred day simple moving average is $12.00.

Cassava Sciences (NASDAQ:SAVA) last issued its quarterly earnings data on Monday, March 3rd. The company reported ($0.57) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.68) by $0.11. Equities analysts expect that Cassava Sciences, Inc. will post -3.97 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, HC Wainwright reaffirmed a “neutral” rating and set a $2.00 target price on shares of Cassava Sciences in a research report on Tuesday.

About Cassava Sciences

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.