Essex LLC Acquires 14,456 Shares of Cassava Sciences, Inc. (NASDAQ:SAVA)

Essex LLC boosted its holdings in Cassava Sciences, Inc. (NASDAQ:SAVA) by 26.1% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 69,774 shares of the company’s stock after purchasing an additional 14,456 shares during the period. Essex LLC’s holdings in Cassava Sciences were worth $2,053,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of Cassava Sciences by 1.4% in the first quarter. Vanguard Group Inc. now owns 2,356,480 shares of the company’s stock worth $47,813,000 after acquiring an additional 31,854 shares during the last quarter. Gallacher Capital Management LLC grew its position in Cassava Sciences by 0.6% in the 1st quarter. Gallacher Capital Management LLC now owns 585,381 shares of the company’s stock worth $11,877,000 after purchasing an additional 3,775 shares during the last quarter. Clear Creek Financial Management LLC increased its holdings in shares of Cassava Sciences by 5.1% during the 2nd quarter. Clear Creek Financial Management LLC now owns 145,550 shares of the company’s stock worth $1,798,000 after purchasing an additional 7,025 shares during the period. Bank of New York Mellon Corp raised its position in shares of Cassava Sciences by 18.1% during the second quarter. Bank of New York Mellon Corp now owns 140,847 shares of the company’s stock valued at $1,739,000 after buying an additional 21,558 shares during the last quarter. Finally, Rhumbline Advisers grew its position in Cassava Sciences by 4.1% during the second quarter. Rhumbline Advisers now owns 59,259 shares of the company’s stock worth $732,000 after buying an additional 2,322 shares in the last quarter. 38.05% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have commented on SAVA shares. HC Wainwright raised Cassava Sciences from a “neutral” rating to a “buy” rating and set a $116.00 price target for the company in a report on Tuesday, October 8th. Rodman & Renshaw restated a “buy” rating and issued a $107.00 target price on shares of Cassava Sciences in a research note on Thursday, August 8th.

Cassava Sciences Stock Performance

Shares of Cassava Sciences stock opened at $29.00 on Friday. The firm has a market cap of $1.39 billion, a P/E ratio of -20.57 and a beta of -0.63. The firm’s 50-day simple moving average is $28.16 and its 200-day simple moving average is $22.53. Cassava Sciences, Inc. has a twelve month low of $8.79 and a twelve month high of $42.20.

Cassava Sciences (NASDAQ:SAVA) last posted its earnings results on Thursday, August 8th. The company reported $0.13 EPS for the quarter, topping the consensus estimate of ($0.44) by $0.57. During the same period in the prior year, the company posted ($0.63) EPS. On average, equities analysts forecast that Cassava Sciences, Inc. will post -5.7 earnings per share for the current fiscal year.

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.