Cassava Sciences (NASDAQ:SAVA) Receives Buy Rating from HC Wainwright

HC Wainwright restated their buy rating on shares of Cassava Sciences (NASDAQ:SAVA – Get Rating) in a research report report published on Tuesday morning, Benzinga reports. They currently have a $124.00 price objective on the stock.

A number of other brokerages also recently issued reports on SAVA. B. Riley downgraded Cassava Sciences from a buy rating to a neutral rating and set a $44.00 price target on the stock. in a report on Wednesday, November 16th. Univest Sec lowered their price target on Cassava Sciences from $12.00 to $11.00 in a report on Tuesday, November 29th.

Cassava Sciences Trading Down 19.2 %

Cassava Sciences stock opened at $29.44 on Tuesday. The business’s fifty day simple moving average is $34.06 and its two-hundred day simple moving average is $31.70. Cassava Sciences has a 12 month low of $13.84 and a 12 month high of $62.49. The company has a market capitalization of $1.18 billion, a price-to-earnings ratio of -16.54 and a beta of 0.14.

Cassava Sciences (NASDAQ:SAVA – Get Rating) last released its earnings results on Monday, November 7th. The company reported ($0.51) EPS for the quarter, missing the consensus estimate of ($0.47) by ($0.04). On average, equities research analysts predict that Cassava Sciences will post -2 EPS for the current year.

Institutional Trading of Cassava Sciences

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. IVC Wealth Advisors LLC increased its position in Cassava Sciences by 2.8% in the third quarter. IVC Wealth Advisors LLC now owns 14,815 shares of the company’s stock worth $620,000 after buying an additional 400 shares in the last quarter. SOA Wealth Advisors LLC. increased its position in Cassava Sciences by 679.5% in the third quarter. SOA Wealth Advisors LLC. now owns 608 shares of the company’s stock worth $25,000 after buying an additional 530 shares in the last quarter. Strs Ohio increased its position in Cassava Sciences by 8.0% in the third quarter. Strs Ohio now owns 8,100 shares of the company’s stock worth $338,000 after buying an additional 600 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in Cassava Sciences in the third quarter worth about $25,000. Finally, Bank of New York Mellon Corp increased its position in Cassava Sciences by 0.6% in the first quarter. Bank of New York Mellon Corp now owns 122,993 shares of the company’s stock worth $4,568,000 after buying an additional 712 shares in the last quarter. Hedge funds and other institutional investors own 25.51% of the company’s stock.

Cassava Sciences Company Profile

(Get Rating)

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 2b clinical trial; and investigational diagnostic product candidate is SavaDx, a blood-based biomarker/diagnostic to detect Alzheimer's disease.