375,000 Shares in Cassava Sciences, Inc. (NASDAQ:SAVA) Bought by Tidal Investments LLC

Tidal Investments LLC purchased a new position in shares of Cassava Sciences, Inc. (NASDAQ:SAVA - Free Report) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 375,000 shares of the company's stock, valued at approximately $11,036,000. Tidal Investments LLC owned approximately 0.78% of Cassava Sciences as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the company. KBC Group NV acquired a new stake in shares of Cassava Sciences in the third quarter valued at approximately $57,000. Quest Partners LLC boosted its position in shares of Cassava Sciences by 117.8% during the 3rd quarter. Quest Partners LLC now owns 1,997 shares of the company's stock valued at $59,000 after acquiring an additional 1,080 shares during the last quarter. Dark Forest Capital Management LP purchased a new stake in shares of Cassava Sciences in the second quarter valued at about $131,000. Arizona State Retirement System increased its position in Cassava Sciences by 4.2% during the second quarter. Arizona State Retirement System now owns 11,495 shares of the company's stock worth $142,000 after purchasing an additional 468 shares during the last quarter. Finally, Profund Advisors LLC raised its stake in Cassava Sciences by 4.6% during the second quarter. Profund Advisors LLC now owns 13,440 shares of the company's stock worth $166,000 after purchasing an additional 591 shares during the period. 38.05% of the stock is owned by institutional investors and hedge funds.

Cassava Sciences Trading Up 1.8 %

SAVA traded up $0.05 on Friday, hitting $2.84. The company had a trading volume of 1,789,959 shares, compared to its average volume of 2,579,046. The company's fifty day moving average price is $20.34 and its 200 day moving average price is $21.59. Cassava Sciences, Inc. has a 1 year low of $2.69 and a 1 year high of $42.20. The firm has a market cap of $136.63 million, a P/E ratio of -1.96 and a beta of -0.86.

Cassava Sciences (NASDAQ:SAVA - Get Free Report) last issued its quarterly earnings data 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 quarter last year, the business earned ($0.61) earnings per share. On average, analysts predict that Cassava Sciences, Inc. will post -3.97 earnings per share for the current year.

Insider Activity

In other news, CFO Eric Schoen sold 59,800 shares of the firm's stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $3.86, for a total value of $230,828.00. Following the completion of the transaction, the chief financial officer now 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 transaction 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.

Analyst Ratings Changes

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

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.