Tidal Investments LLC Buys Shares of 375,000 Cassava Sciences, Inc. (NASDAQ:SAVA)

Tidal Investments LLC bought a new stake in Cassava Sciences, Inc. (NASDAQ:SAVA) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 375,000 shares of the company’s stock, valued at approximately $11,036,000. Tidal Investments LLC owned about 0.78% of Cassava Sciences as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SAVA. KBC Group NV acquired a new stake in Cassava Sciences in the 3rd quarter valued at approximately $57,000. Quest Partners LLC lifted its position in shares of 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 acquiring an additional 1,080 shares during the period. Dark Forest Capital Management LP bought a new stake in shares of Cassava Sciences in the 2nd quarter worth approximately $131,000. Arizona State Retirement System lifted its position in shares of Cassava Sciences by 4.2% in the 2nd quarter. Arizona State Retirement System now owns 11,495 shares of the company’s stock worth $142,000 after acquiring an additional 468 shares during the period. Finally, Profund Advisors LLC lifted its position in shares of Cassava Sciences by 4.6% in the 2nd quarter. Profund Advisors LLC now owns 13,440 shares of the company’s stock worth $166,000 after acquiring an additional 591 shares during the period. Institutional investors and hedge funds own 38.05% of the company’s stock.

Cassava Sciences Trading Down 2.1 %

Shares of SAVA stock opened at $2.79 on Friday. The stock has a 50 day moving average of $20.34 and a two-hundred day moving average of $21.59. Cassava Sciences, Inc. has a 12 month low of $2.71 and a 12 month high of $42.20.

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

Analyst Upgrades and Downgrades

Separately, HC Wainwright downgraded Cassava Sciences from a “buy” rating to a “neutral” rating and set a $116.00 price objective for the company. in a research report on Tuesday, November 26th.

Insider Buying and Selling

In related news, CFO Eric Schoen sold 59,800 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $3.86, for a total transaction of $230,828.00. Following the completion of the transaction, the chief financial officer now owns 11,500 shares in the company, valued at $44,390. This trade represents a 83.87 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 9.00% of the stock is owned by corporate insiders.

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.