5 Most Shorted Stocks Right Now

3. Cassava Sciences, Inc. (NASDAQ:SAVA)

Number of Hedge Fund Holders: 10 

Float Shorted: 37.44%  

Cassava Sciences, Inc. (NASDAQ:SAVA) is a clinical-stage biotech firm. Major hedge funds hold large stakes in the company. Among the hedge funds being tracked by Insider Monkey, Chicago-based investment firm Citadel Investment Group is a leading shareholder in Cassava Sciences, Inc. (NASDAQ:SAVA) with 1.1 million shares worth more than $70 million.

Cassava Sciences, Inc. (NASDAQ:SAVA) stock had lost value in the past few weeks amid a citizen complaint against the quality of studies that the company conducted in clinical trials for simufilam, an experimental Alzheimer’s drug. The petition has been dismissed by the FDA and investment advisors have turned constructive on Cassava Sciences, Inc. (NASDAQ:SAVA).