Fintel reports that Pain Therapeutics has filed a 13G/A form with the SEC disclosing ownership of 2.02MM shares of Cassava Sciences Inc (SAVA). This represents 4.7% of the company.
In their previous filing dated February 7, 2019 they reported 1.74MM shares and 9.70% of the company, an increase in shares of 16.27% and a decrease in total ownership of 5.00% (calculated as current - previous percent ownership).
Analyst Price Forecast Suggests 138.10% Upside
As of February 8, 2023, the average one-year price target for Cassava Sciences is $71.14. The forecasts range from a low of $11.11 to a high of $130.20. The average price target represents an increase of 138.10% from its latest reported closing price of $29.88.
The projected annual revenue for Cassava Sciences is $51MM. The projected annual EPS is $-1.53.
Fund Sentiment
There are 325 funds or institutions reporting positions in Cassava Sciences. This is an increase of 8 owner(s) or 2.52%.
Average portfolio weight of all funds dedicated to US:SAVA is 0.1426%, an increase of 193.9731%. Total shares owned by institutions increased in the last three months by 10.25% to 11,590K shares.
What are large shareholders doing?
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,166,034 shares representing 2.79% ownership of the company. In it's prior filing, the firm reported owning 1,118,805 shares, representing an increase of 4.05%. The firm increased its portfolio allocation in SAVA by 61.57% over the last quarter.
IWM - iShares Russell 2000 ETF holds 831,292 shares representing 1.99% ownership of the company. In it's prior filing, the firm reported owning 863,629 shares, representing a decrease of 3.89%. The firm increased its portfolio allocation in SAVA by 55.04% over the last quarter.
Geode Capital Management holds 684,851 shares representing 1.64% ownership of the company. In it's prior filing, the firm reported owning 673,542 shares, representing an increase of 1.65%. The firm increased its portfolio allocation in SAVA by 56.58% over the last quarter.
Gallacher Capital Management holds 588,533 shares representing 1.41% ownership of the company.
VEXMX - Vanguard Extended Market Index Fund Investor Shares holds 514,781 shares representing 1.23% ownership of the company. In it's prior filing, the firm reported owning 500,687 shares, representing an increase of 2.74%. The firm increased its portfolio allocation in SAVA by 55.51% over the last quarter.
Cassava Sciences Background Information
(This description is provided by the company.)
Cassava Sciences' mission is to discover and develop innovations for chronic, neurodegenerative conditions. Over the past 10 years, Cassava Sciences has combined state-of-the-art technology with new insights in neurobiology to develop novel solutions for Alzheimer's disease.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
