Wells Fargo & Company MN grew its holdings in Cassava Sciences, Inc. (NASDAQ:SAVA) by 187.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 164,571 shares of the company’s stock after buying an additional 107,286 shares during the quarter. Wells Fargo & Company MN owned about 0.64% of Cassava Sciences worth $1,122,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. The Manufacturers Life Insurance Company acquired a new stake in Cassava Sciences in the third quarter valued at $153,000. State Street Corp boosted its stake in Cassava Sciences by 50.2% in the 3rd quarter. State Street Corp now owns 352,502 shares of the company’s stock worth $4,057,000 after buying an additional 117,796 shares during the last quarter. Cetera Advisor Networks LLC increased its holdings in shares of Cassava Sciences by 17.6% during the 3rd quarter. Cetera Advisor Networks LLC now owns 16,460 shares of the company’s stock worth $189,000 after buying an additional 2,460 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Cassava Sciences by 14.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 56,937 shares of the company’s stock valued at $656,000 after acquiring an additional 7,000 shares during the period. Finally, Morgan Stanley grew its holdings in shares of Cassava Sciences by 15.2% during the 3rd quarter. Morgan Stanley now owns 33,573 shares of the company’s stock worth $386,000 after purchasing an additional 4,440 shares during the period. Institutional investors and hedge funds own 26.65% of the company’s stock.
A number of analysts have recently issued reports on SAVA shares. Cantor Fitzgerald lifted their price objective on shares of Cassava Sciences from $24.00 to $72.00 and gave the company an “overweight” rating in a research note on Tuesday, March 16th. Zacks Investment Research cut Cassava Sciences from a “buy” rating to a “hold” rating in a research report on Friday, March 26th. Finally, Jonestrading reissued a “buy” rating on shares of Cassava Sciences in a research note on Tuesday, March 23rd. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $38.75.
Cassava Sciences (NASDAQ:SAVA) last announced its quarterly earnings results on Monday, March 22nd. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.04). As a group, sell-side analysts expect that Cassava Sciences, Inc. will post -0.2 earnings per share for the current year.
Cassava Sciences Company Profile
Cassava Sciences, Inc, a clinical stage biotechnology company, develops drugs for nervous system disorders. Its lead therapeutic product candidate is PTI-125, a small molecule drug, which is completed Phase 2b clinical trial; and investigational diagnostic product candidate is SavaDx, a blood-based biomarker/diagnostic to detect Alzheimer's disease.
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