Clear Creek Financial Management LLC Sells 124,541 Shares of Cassava Sciences, Inc. (NASDAQ:SAVA)

Clear Creek Financial Management LLC decreased its holdings in shares of Cassava Sciences, Inc. (NASDAQ:SAVA - Free Report) by 81.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,992 shares of the company's stock after selling 124,541 shares during the quarter. Clear Creek Financial Management LLC owned approximately 0.06% of Cassava Sciences worth $68,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. International Assets Investment Management LLC bought a new position in Cassava Sciences during the 3rd quarter worth $10,610,000. Geode Capital Management LLC grew its stake in shares of Cassava Sciences by 4.3% in the third quarter. Geode Capital Management LLC now owns 1,008,593 shares of the company's stock valued at $29,688,000 after acquiring an additional 41,289 shares in the last quarter. BNP Paribas Financial Markets grew its stake in shares of Cassava Sciences by 150.1% in the third quarter. BNP Paribas Financial Markets now owns 8,748 shares of the company's stock valued at $257,000 after acquiring an additional 5,250 shares in the last quarter. Intech Investment Management LLC bought a new position in Cassava Sciences during the third quarter worth about $373,000. Finally, KBC Group NV acquired a new stake in Cassava Sciences in the 3rd quarter worth about $57,000. 38.05% of the stock is owned by institutional investors.

Cassava Sciences Stock Performance

Shares of NASDAQ SAVA traded down $0.07 during trading hours on Friday, hitting $2.27. 1,165,831 shares of the stock were exchanged, compared to its average volume of 2,200,688. The company's fifty day simple moving average is $2.67 and its two-hundred day simple moving average is $17.69. The company has a market cap of $109.21 million, a PE ratio of -1.64 and a beta of -0.95. Cassava Sciences, Inc. has a 1-year low of $2.23 and a 1-year high of $42.20.

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Cassava Sciences (NASDAQ:SAVA - Get Free Report) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.58) earnings per share for the quarter, topping the consensus estimate of ($1.37) by $0.79. During the same period in the prior year, the company earned ($0.61) EPS. As a group, sell-side analysts expect that Cassava Sciences, Inc. will post -3.97 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Eric Schoen sold 59,800 shares of Cassava Sciences stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $3.86, for a total transaction of $230,828.00. Following the sale, the chief financial officer now directly owns 11,500 shares of the company's stock, valued at approximately $44,390. This trade represents a 83.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 9.00% of the company's stock.

Wall Street Analysts Forecast Growth

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

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.