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PFE   53.73 (+2.54%)
BA   197.21 (-0.65%)
S&P 500   4,632.24 (-0.49%)
DOW   34,921.34 (-0.61%)
QQQ   400.46 (+0.19%)
AAPL   164.47 (+2.64%)
MSFT   337.52 (+0.26%)
FB   334.84 (-0.94%)
GOOGL   2,903.65 (-0.24%)
AMZN   3,568.73 (+0.20%)
TSLA   1,163.00 (+2.29%)
NVDA   331.96 (-0.54%)
BABA   129.54 (-1.57%)
NIO   40.71 (+0.62%)
CGC   10.82 (-2.17%)
AMD   163.30 (+0.86%)
GE   96.21 (-2.23%)
MU   86.16 (+0.02%)
T   23.04 (-3.56%)
F   19.56 (-0.56%)
DIS   145.79 (-1.37%)
ACB   6.42 (-0.31%)
AMC   35.46 (-3.75%)
PFE   53.73 (+2.54%)
BA   197.21 (-0.65%)
S&P 500   4,632.24 (-0.49%)
DOW   34,921.34 (-0.61%)
QQQ   400.46 (+0.19%)
AAPL   164.47 (+2.64%)
MSFT   337.52 (+0.26%)
FB   334.84 (-0.94%)
GOOGL   2,903.65 (-0.24%)
AMZN   3,568.73 (+0.20%)
TSLA   1,163.00 (+2.29%)
NVDA   331.96 (-0.54%)
BABA   129.54 (-1.57%)
NIO   40.71 (+0.62%)
CGC   10.82 (-2.17%)
AMD   163.30 (+0.86%)
GE   96.21 (-2.23%)
MU   86.16 (+0.02%)
T   23.04 (-3.56%)
F   19.56 (-0.56%)
DIS   145.79 (-1.37%)
ACB   6.42 (-0.31%)
AMC   35.46 (-3.75%)
PFE   53.73 (+2.54%)
BA   197.21 (-0.65%)
S&P 500   4,632.24 (-0.49%)
DOW   34,921.34 (-0.61%)
QQQ   400.46 (+0.19%)
AAPL   164.47 (+2.64%)
MSFT   337.52 (+0.26%)
FB   334.84 (-0.94%)
GOOGL   2,903.65 (-0.24%)
AMZN   3,568.73 (+0.20%)
TSLA   1,163.00 (+2.29%)
NVDA   331.96 (-0.54%)
BABA   129.54 (-1.57%)
NIO   40.71 (+0.62%)
CGC   10.82 (-2.17%)
AMD   163.30 (+0.86%)
GE   96.21 (-2.23%)
MU   86.16 (+0.02%)
T   23.04 (-3.56%)
F   19.56 (-0.56%)
DIS   145.79 (-1.37%)
ACB   6.42 (-0.31%)
AMC   35.46 (-3.75%)
PFE   53.73 (+2.54%)
BA   197.21 (-0.65%)

Cassava Sciences, Inc. (NASDAQ:SAVA) Short Interest Update

Sunday, November 21, 2021 | MarketBeat

Cassava Sciences, Inc. (NASDAQ:SAVA) was the recipient of a significant growth in short interest in October. As of October 29th, there was short interest totalling 11,350,000 shares, a growth of 20.5% from the October 14th total of 9,420,000 shares. Currently, 30.4% of the shares of the stock are short sold. Based on an average daily trading volume, of 8,450,000 shares, the short-interest ratio is currently 1.3 days.

Shares of SAVA stock traded up $4.75 during trading hours on Friday, hitting $53.19. 6,211,151 shares of the company were exchanged, compared to its average volume of 5,917,175. The company has a 50 day simple moving average of $55.96 and a two-hundred day simple moving average of $69.90. Cassava Sciences has a fifty-two week low of $6.70 and a fifty-two week high of $146.16. The firm has a market cap of $2.13 billion, a P/E ratio of -96.71 and a beta of 0.48.

Cassava Sciences (NASDAQ:SAVA) last posted its quarterly earnings results on Wednesday, November 10th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.09). On average, analysts anticipate that Cassava Sciences will post -0.66 earnings per share for the current fiscal year.

SAVA has been the subject of a number of research reports. Zacks Investment Research cut shares of Cassava Sciences from a "hold" rating to a "sell" rating in a report on Tuesday, November 16th. B. Riley raised their price objective on shares of Cassava Sciences from $111.00 to $145.00 and gave the company a "buy" rating in a report on Tuesday, August 3rd. Finally, Jonestrading restated a "buy" rating and set a $215.00 price target on shares of Cassava Sciences in a report on Friday, September 3rd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $126.60.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Voloridge Investment Management LLC bought a new position in Cassava Sciences during the 3rd quarter valued at $13,799,000. Bleichroeder LP lifted its stake in Cassava Sciences by 75.9% during the 1st quarter. Bleichroeder LP now owns 500,000 shares of the company's stock valued at $22,475,000 after acquiring an additional 215,686 shares in the last quarter. Morgan Stanley lifted its stake in Cassava Sciences by 117.8% during the 3rd quarter. Morgan Stanley now owns 354,469 shares of the company's stock valued at $22,006,000 after acquiring an additional 191,738 shares in the last quarter. State Street Corp lifted its stake in Cassava Sciences by 26.7% during the 2nd quarter. State Street Corp now owns 869,878 shares of the company's stock valued at $74,322,000 after acquiring an additional 183,568 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in Cassava Sciences by 793.1% during the 2nd quarter. Invesco Ltd. now owns 173,064 shares of the company's stock valued at $14,787,000 after acquiring an additional 153,686 shares in the last quarter. 27.31% of the stock is owned by institutional investors and hedge funds.

About Cassava Sciences

Cassava Sciences, Inc engages in the development of novel drugs and diagnostics. It focuses on developing product candidates intended for the treatment of Alzheimer's disease, including PTI-125 and PTI-125Dx. The company was founded by Remi Barbier and Barry M. Sherman in May 1998 and is headquartered in Austin, TX.

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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]

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