Catalina Capital Group LLC Buys New Shares in Cassava Sciences, Inc. (NASDAQ:SAVA)

Catalina Capital Group LLC purchased a new position in shares of Cassava Sciences, Inc. (NASDAQ:SAVA) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 13,600 shares of the company’s stock, valued at approximately $32,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Quest Partners LLC lifted 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 worth $59,000 after purchasing an additional 1,080 shares during the last quarter. KBC Group NV bought a new stake in shares of Cassava Sciences in the 3rd quarter valued at about $57,000. NBC Securities Inc. boosted its holdings in Cassava Sciences by 26.1% during the 3rd quarter. NBC Securities Inc. now owns 9,650 shares of the company’s stock valued at $283,000 after acquiring an additional 2,000 shares during the period. The Manufacturers Life Insurance Company grew its position in Cassava Sciences by 11.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,700 shares of the company’s stock worth $280,000 after acquiring an additional 2,377 shares during the last quarter. Finally, BNP Paribas Financial Markets increased 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 during the period. 38.05% of the stock is currently owned by hedge funds and other institutional investors.

Cassava Sciences Price Performance

NASDAQ:SAVA opened at $2.39 on Wednesday. Cassava Sciences, Inc. has a one year low of $2.23 and a one year high of $42.20. The company’s 50-day simple moving average is $2.77 and its 200 day simple moving average is $17.96. The firm has a market capitalization of $114.98 million, a P/E ratio of -1.73 and a beta of -0.95.

Cassava Sciences (NASDAQ:SAVA) last issued its earnings results on Thursday, November 7th. The company reported ($0.58) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.37) by $0.79. During the same quarter in the previous year, the firm earned ($0.61) earnings per share. On average, equities research analysts expect that Cassava Sciences, Inc. will post -3.97 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, HC Wainwright lowered shares of Cassava Sciences from a “buy” rating to a “neutral” rating and set a $116.00 price target on the stock. in a report on Tuesday, November 26th.

Insiders Place Their Bets

In other news, CFO Eric Schoen sold 59,800 shares of the business’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $3.86, for a total transaction of $230,828.00. Following the completion of the sale, the chief financial officer now owns 11,500 shares of the company’s stock, valued at $44,390. The trade was a 83.87 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 12.20% of the company’s stock.

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.