HC Wainwright cut shares of Cassava Sciences (NASDAQ:SAVA - Free Report) from a buy rating to a neutral rating in a research note issued to investors on Tuesday morning, MarketBeat.com reports. HC Wainwright currently has $116.00 target price on the stock.
Separately, Rodman & Renshaw reissued a "buy" rating and issued a $107.00 price objective on shares of Cassava Sciences in a research note on Thursday, August 8th.
Read Our Latest Analysis on SAVA
Cassava Sciences Trading Down 7.0 %
SAVA traded down $0.30 during trading on Tuesday, reaching $4.00. 25,995,507 shares of the company's stock were exchanged, compared to its average volume of 2,243,020. The firm has a fifty day moving average price of $27.07 and a two-hundred day moving average price of $23.29. The stock has a market capitalization of $192.44 million, a PE ratio of -2.84 and a beta of -0.59. Cassava Sciences has a one year low of $3.65 and a one year high of $42.20.
Cassava Sciences (NASDAQ:SAVA - Get Free Report) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.58) earnings per share for the quarter, beating the consensus estimate of ($1.37) by $0.79. During the same period last year, the firm posted ($0.61) earnings per share. Sell-side analysts expect that Cassava Sciences will post -3.63 earnings per share for the current year.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently bought and sold shares of SAVA. Vanguard Group Inc. grew its stake in Cassava Sciences by 1.4% in the first quarter. Vanguard Group Inc. now owns 2,356,480 shares of the company's stock valued at $47,813,000 after acquiring an additional 31,854 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Cassava Sciences by 4.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,008,593 shares of the company's stock worth $29,688,000 after purchasing an additional 41,289 shares in the last quarter. Tidal Investments LLC acquired a new stake in Cassava Sciences in the 3rd quarter valued at $11,036,000. Charles Schwab Investment Management Inc. grew its position in Cassava Sciences by 3.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 361,797 shares of the company's stock valued at $10,648,000 after purchasing an additional 10,429 shares during the period. Finally, Clear Creek Financial Management LLC raised its holdings in Cassava Sciences by 5.5% during the third quarter. Clear Creek Financial Management LLC now owns 153,533 shares of the company's stock worth $4,518,000 after buying an additional 7,983 shares during the last quarter. 38.05% of the stock is owned by institutional investors.
Cassava Sciences Company Profile
(
Get Free Report)
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.
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