Gallacher Capital Management LLC Purchases 3,782 Shares of Cassava Sciences, Inc. (NASDAQ:SAVA)

Gallacher Capital Management LLC grew its position in Cassava Sciences, Inc. (NASDAQ:SAVA) by 0.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 581,606 shares of the company’s stock after purchasing an additional 3,782 shares during the period. Cassava Sciences comprises about 7.3% of Gallacher Capital Management LLC’s holdings, making the stock its 2nd largest position. Gallacher Capital Management LLC owned approximately 1.38% of Cassava Sciences worth $13,092,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Montag A & Associates Inc. lifted its holdings in Cassava Sciences by 50.0% in the 3rd quarter. Montag A & Associates Inc. now owns 1,500 shares of the company’s stock worth $25,000 after purchasing an additional 500 shares during the last quarter. Benjamin F. Edwards & Company Inc. lifted its stake in shares of Cassava Sciences by 653.6% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 1,153 shares of the company’s stock worth $26,000 after buying an additional 1,000 shares during the last quarter. Headlands Technologies LLC boosted its holdings in shares of Cassava Sciences by 24,044.4% during the 3rd quarter. Headlands Technologies LLC now owns 2,173 shares of the company’s stock worth $36,000 after buying an additional 2,164 shares during the period. NBC Securities Inc. acquired a new position in Cassava Sciences in the 3rd quarter valued at $66,000. Finally, Byrne Asset Management LLC raised its holdings in Cassava Sciences by 32.9% in the 4th quarter. Byrne Asset Management LLC now owns 3,350 shares of the company’s stock worth $75,000 after acquiring an additional 830 shares during the period. 38.05% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright restated a “buy” rating and set a $124.00 price target on shares of Cassava Sciences in a report on Tuesday, March 5th.

Cassava Sciences Trading Down 0.0 %

SAVA traded down $0.01 during midday trading on Friday, reaching $22.05. The company’s stock had a trading volume of 1,147,869 shares, compared to its average volume of 1,105,216. The company has a fifty day simple moving average of $21.37 and a 200 day simple moving average of $20.53. The stock has a market cap of $953.66 million, a P/E ratio of -9.50 and a beta of -0.38. Cassava Sciences, Inc. has a twelve month low of $12.32 and a twelve month high of $32.10.

Cassava Sciences (NASDAQ:SAVA) last announced its quarterly earnings data on Wednesday, February 28th. The company reported ($0.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.40) by ($0.10). Sell-side analysts expect that Cassava Sciences, Inc. will post -2.01 earnings per share for the current year.

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.