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

Intech Investment Management LLC increased its position in shares of Cassava Sciences, Inc. (NASDAQ:SAVA) by 64.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,898 shares of the company’s stock after acquiring an additional 8,220 shares during the quarter. Intech Investment Management LLC’s holdings in Cassava Sciences were worth $49,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Sequoia Financial Advisors LLC acquired a new position in shares of Cassava Sciences during the fourth quarter worth $26,000. Johnson Investment Counsel Inc. grew its stake in Cassava Sciences by 71.4% during the 4th quarter. Johnson Investment Counsel Inc. now owns 12,000 shares of the company’s stock worth $28,000 after buying an additional 5,000 shares during the last quarter. Catalina Capital Group LLC acquired a new position in Cassava Sciences during the 4th quarter valued at about $32,000. Quest Partners LLC raised its stake in Cassava Sciences by 117.8% in the third 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 last quarter. Finally, Wealthfront Advisers LLC acquired a new stake in Cassava Sciences in the fourth quarter worth about $60,000. Hedge funds and other institutional investors own 38.05% of the company’s stock.

Cassava Sciences Price Performance

Shares of SAVA opened at $1.65 on Friday. The company’s fifty day moving average price is $2.49 and its 200-day moving average price is $12.00. Cassava Sciences, Inc. has a 1-year low of $1.63 and a 1-year high of $42.20. The firm has a market capitalization of $79.71 million, a PE ratio of -1.20 and a beta of -1.24.

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

Wall Street Analyst Weigh In

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

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.