Wealthfront Advisers LLC Takes Position in Cassava Sciences, Inc. (NASDAQ:SAVA)

Wealthfront Advisers LLC purchased a new stake in Cassava Sciences, Inc. (NASDAQ:SAVA) during the fourth quarter, Holdings Channel reports. The firm purchased 25,444 shares of the company’s stock, valued at approximately $60,000.

A number of other institutional investors have also modified their holdings of the company. Quest Partners LLC boosted its stake in Cassava Sciences by 117.8% in the 3rd quarter. Quest Partners LLC now owns 1,997 shares of the company’s stock worth $59,000 after purchasing an additional 1,080 shares in the last quarter. KBC Group NV acquired a new stake in Cassava Sciences in the 3rd quarter worth approximately $57,000. Johnson Investment Counsel Inc. boosted its stake in Cassava Sciences by 71.4% in the 4th quarter. Johnson Investment Counsel Inc. now owns 12,000 shares of the company’s stock worth $28,000 after purchasing an additional 5,000 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in Cassava Sciences by 150.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 8,748 shares of the company’s stock worth $257,000 after purchasing an additional 5,250 shares in the last quarter. Finally, Independent Advisor Alliance acquired a new stake in Cassava Sciences in the 3rd quarter worth approximately $208,000. 38.05% of the stock is currently owned by institutional investors.

Cassava Sciences Trading Up 0.4 %

SAVA opened at $2.79 on Wednesday. Cassava Sciences, Inc. has a 12-month low of $2.23 and a 12-month high of $42.20. The firm has a market capitalization of $134.78 million, a PE ratio of -2.02 and a beta of -1.24. The firm has a 50 day moving average of $2.56 and a two-hundred day moving average of $13.24.

Cassava Sciences (NASDAQ:SAVA) last posted its quarterly earnings results on Monday, March 3rd. The company reported ($0.57) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.68) by $0.11. As a group, analysts predict that Cassava Sciences, Inc. will post -3.97 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, HC Wainwright reiterated a “neutral” rating on shares of Cassava Sciences in a research note on Tuesday, March 4th.

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.