Cassava Sciences (NASDAQ:SAVA) Trading Up 4.6%

Cassava Sciences, Inc. (NASDAQ:SAVA)’s stock price was up 4.6% during mid-day trading on Thursday . The stock traded as high as $21.69 and last traded at $21.69. Approximately 481,305 shares were traded during mid-day trading, a decline of 37% from the average daily volume of 759,684 shares. The stock had previously closed at $20.74.

Analyst Upgrades and Downgrades

Separately, HC Wainwright restated a “buy” rating and issued a $124.00 target price on shares of Cassava Sciences in a report on Tuesday, March 5th.

Cassava Sciences Trading Up 4.8 %

The company has a fifty day simple moving average of $21.50 and a 200-day simple moving average of $19.95. The company has a market capitalization of $939.74 million, a PE ratio of -8.94 and a beta of -0.45.

Cassava Sciences (NASDAQ:SAVA) last announced its quarterly earnings results on Wednesday, February 28th. The company reported ($0.50) EPS for the quarter, missing the consensus estimate of ($0.40) by ($0.10). On average, equities analysts predict that Cassava Sciences, Inc. will post -2.01 EPS for the current fiscal year.

Hedge Funds Weigh In On Cassava Sciences

Large investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of Cassava Sciences by 0.8% in the 3rd quarter. Vanguard Group Inc. now owns 2,268,566 shares of the company’s stock valued at $37,749,000 after purchasing an additional 18,907 shares during the last quarter. Raymond James & Associates lifted its stake in shares of Cassava Sciences by 0.8% in the 4th quarter. Raymond James & Associates now owns 74,097 shares of the company’s stock valued at $1,668,000 after purchasing an additional 565 shares during the last quarter. Clear Creek Financial Management LLC lifted its stake in shares of Cassava Sciences by 29.0% in the 4th quarter. Clear Creek Financial Management LLC now owns 134,605 shares of the company’s stock valued at $3,030,000 after purchasing an additional 30,265 shares during the last quarter. Essex LLC lifted its stake in shares of Cassava Sciences by 186.1% in the 4th quarter. Essex LLC now owns 34,774 shares of the company’s stock valued at $783,000 after purchasing an additional 22,620 shares during the last quarter. Finally, Byrne Asset Management LLC lifted its stake in shares of Cassava Sciences by 32.9% in the 4th quarter. Byrne Asset Management LLC now owns 3,350 shares of the company’s stock valued at $75,000 after purchasing an additional 830 shares during the last quarter. Institutional investors and hedge funds 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.