HC Wainwright restated their buy rating on shares of Cassava Sciences (NASDAQ:SAVA - Free Report) in a research note published on Friday,Benzinga reports. The brokerage currently has a $116.00 price objective on the stock.
Separately, Rodman & Renshaw restated a "buy" rating and set a $107.00 price objective on shares of Cassava Sciences in a report on Thursday, August 8th.
Read Our Latest Stock Report on SAVA
Cassava Sciences Stock Performance
Shares of NASDAQ:SAVA traded up $1.61 during midday trading on Friday, hitting $26.95. The company's stock had a trading volume of 2,036,051 shares, compared to its average volume of 1,709,910. The stock's 50 day simple moving average is $27.72 and its 200 day simple moving average is $23.02. The stock has a market capitalization of $1.29 billion, a price-to-earnings ratio of -19.11 and a beta of -0.59. Cassava Sciences has a fifty-two week low of $8.79 and a fifty-two week high of $42.20.
Cassava Sciences (NASDAQ:SAVA - Get Free Report) last posted its quarterly earnings data 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 in the prior year, the firm earned ($0.61) earnings per share. As a group, analysts anticipate that Cassava Sciences will post -5.7 EPS for the current year.
Institutional Trading of Cassava Sciences
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Intech Investment Management LLC bought a new stake in Cassava Sciences in the third quarter valued at $373,000. Quest Partners LLC grew its stake in Cassava Sciences by 117.8% during the third quarter. Quest Partners LLC now owns 1,997 shares of the company's stock worth $59,000 after buying an additional 1,080 shares during the last quarter. KBC Group NV acquired a new stake in shares of Cassava Sciences during the third quarter worth approximately $57,000. Clear Creek Financial Management LLC raised its stake in shares of Cassava Sciences by 5.5% in the third quarter. Clear Creek Financial Management LLC now owns 153,533 shares of the company's stock valued at $4,518,000 after acquiring an additional 7,983 shares during the last quarter. Finally, International Assets Investment Management LLC acquired a new position in shares of Cassava Sciences in the 3rd quarter worth approximately $10,610,000. Institutional investors own 38.05% of the company's stock.
About Cassava Sciences
(
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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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