Virtu Financial LLC Has $1.11 Million Stock Position in Cassava Sciences, Inc. (NASDAQ:SAVA)

Virtu Financial LLC grew its holdings in Cassava Sciences, Inc. (NASDAQ:SAVA) by 120.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 49,128 shares of the company’s stock after purchasing an additional 26,824 shares during the period. Virtu Financial LLC owned about 0.12% of Cassava Sciences worth $1,106,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Cable Car Capital LLC bought a new position in Cassava Sciences in the fourth quarter valued at $1,204,000. Bluefin Capital Management LLC bought a new position in shares of Cassava Sciences in the 4th quarter valued at about $410,000. Aristides Capital LLC acquired a new stake in shares of Cassava Sciences in the fourth quarter valued at about $225,000. Focus Financial Network Inc. ADV bought a new stake in Cassava Sciences during the fourth quarter worth about $358,000. Finally, Quest Partners LLC acquired a new position in Cassava Sciences during the fourth quarter valued at approximately $118,000. 38.05% of the stock is currently owned by institutional investors and hedge funds.

Cassava Sciences Stock Performance

NASDAQ SAVA traded down $0.17 on Friday, hitting $19.72. 688,210 shares of the stock were exchanged, compared to its average volume of 566,600. The business’s fifty day moving average is $21.58 and its 200 day moving average is $21.90. Cassava Sciences, Inc. has a 52 week low of $12.32 and a 52 week high of $32.10.

Cassava Sciences (NASDAQ:SAVA) last issued its earnings results on Friday, May 10th. The company reported ($1.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.90). As a group, research analysts anticipate that Cassava Sciences, Inc. will post -1.86 EPS for the current year.

Wall Street Analyst Weigh In

Separately, HC Wainwright boosted their price target on Cassava Sciences from $124.00 to $131.00 and gave the stock a “buy” rating in a research report on Friday, May 17th.

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.