Wealthfront Advisers LLC Acquires Shares of 25,444 Cassava Sciences, Inc. (NASDAQ:SAVA)

Wealthfront Advisers LLC acquired a new stake in shares of Cassava Sciences, Inc. (NASDAQ:SAVA) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 25,444 shares of the company’s stock, valued at approximately $60,000. Wealthfront Advisers LLC owned about 0.05% of Cassava Sciences as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Johnson Investment Counsel Inc. increased its position in 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 during the last quarter. Catalina Capital Group LLC purchased a new position in Cassava Sciences in the 4th quarter worth about $32,000. KBC Group NV purchased a new position in Cassava Sciences in the 3rd quarter worth about $57,000. Quest Partners LLC increased 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 buying an additional 1,080 shares during the period. Finally, Apollon Wealth Management LLC purchased a new position in Cassava Sciences in the 4th quarter worth about $73,000. Institutional investors own 38.05% of the company’s stock.

Cassava Sciences Price Performance

SAVA stock opened at $2.79 on Wednesday. The company has a market capitalization of $134.78 million, a PE ratio of -2.02 and a beta of -1.24. Cassava Sciences, Inc. has a 12 month low of $2.23 and a 12 month high of $42.20. The firm’s 50-day moving average is $2.56 and its 200 day moving average is $13.24.

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

Analysts Set New Price Targets

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

Cassava Sciences 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.