Cassava Sciences (NASDAQ:SAVA) Earns “Sell (D-)” Rating from Weiss Ratings

Cassava Sciences (NASDAQ:SAVA)‘s stock had its “sell (d-)” rating reiterated by equities researchers at Weiss Ratings in a report released on Thursday,Weiss Ratings reports.

Cassava Sciences Trading Down 0.6%

Shares of NASDAQ:SAVA opened at $3.26 on Thursday. Cassava Sciences has a twelve month low of $1.15 and a twelve month high of $33.98. The company’s 50 day moving average is $3.07 and its 200 day moving average is $2.38. The company has a market cap of $157.48 million, a PE ratio of -1.28 and a beta of -0.98.

Cassava Sciences (NASDAQ:SAVA) last issued its quarterly earnings data on Thursday, August 14th. The company reported ($0.18) EPS for the quarter. Equities research analysts predict that Cassava Sciences will post -3.97 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Richard Barry acquired 47,308 shares of the company’s stock in a transaction dated Friday, September 19th. The shares were acquired at an average price of $2.29 per share, with a total value of $108,335.32. Following the purchase, the chief executive officer directly owned 707,503 shares of the company’s stock, valued at $1,620,181.87. This trade represents a 7.17% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Robert Christopher Cook acquired 13,725 shares of the company’s stock in a transaction dated Tuesday, September 30th. The shares were purchased at an average cost of $2.91 per share, for a total transaction of $39,939.75. Following the purchase, the insider directly owned 13,725 shares in the company, valued at approximately $39,939.75. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have bought a total of 258,838 shares of company stock worth $591,645 in the last ninety days. Corporate insiders own 2.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Goldman Sachs Group Inc. lifted its position in shares of Cassava Sciences by 77.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 496,313 shares of the company’s stock valued at $744,000 after buying an additional 217,404 shares in the last quarter. GMT Capital Corp purchased a new position in shares of Cassava Sciences during the 1st quarter valued at approximately $675,000. Apollon Wealth Management LLC lifted its position in shares of Cassava Sciences by 30.0% during the 1st quarter. Apollon Wealth Management LLC now owns 40,237 shares of the company’s stock valued at $60,000 after buying an additional 9,288 shares in the last quarter. Federated Hermes Inc. lifted its position in shares of Cassava Sciences by 426.9% during the 1st quarter. Federated Hermes Inc. now owns 37,410 shares of the company’s stock valued at $56,000 after buying an additional 30,310 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Cassava Sciences by 13.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 361,253 shares of the company’s stock valued at $542,000 after buying an additional 41,511 shares in the last quarter. Hedge funds and other institutional investors own 38.05% of the company’s stock.

Cassava Sciences Company Profile

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.