Cassava Sciences, Inc. (NASDAQ:SAVA - Get Free Report) was the target of some unusual options trading on Thursday. Investors acquired 6,925 call options on the company. This represents an increase of approximately 38% compared to the typical volume of 5,002 call options.
Cassava Sciences Trading Up 6.5 %
Shares of SAVA stock traded up $1.60 during mid-day trading on Thursday, reaching $26.11. The stock had a trading volume of 1,824,182 shares, compared to its average volume of 721,115. Cassava Sciences has a 12-month low of $12.32 and a 12-month high of $32.10. The company has a market cap of $1.13 billion, a P/E ratio of -11.25 and a beta of -0.45. The business has a 50-day simple moving average of $22.12 and a 200 day simple moving average of $19.38.
Cassava Sciences (NASDAQ:SAVA - Get Free Report) last posted its quarterly earnings data on Wednesday, February 28th. The company reported ($0.50) EPS for the quarter, missing analysts' consensus estimates of ($0.40) by ($0.10). Research analysts anticipate that Cassava Sciences will post -2.01 EPS for the current year.
Wall Street Analyst Weigh In
Separately, HC Wainwright restated a "buy" rating and issued a $124.00 price target on shares of Cassava Sciences in a research report on Tuesday, March 5th.
Get Our Latest Stock Analysis on SAVA
Institutional Trading of Cassava Sciences
A number of large investors have recently made changes to their positions in SAVA. Envestnet Asset Management Inc. boosted its stake in shares of Cassava Sciences by 34.7% during the first quarter. Envestnet Asset Management Inc. now owns 6,737 shares of the company's stock valued at $250,000 after acquiring an additional 1,736 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Cassava Sciences by 16.8% during the first quarter. JPMorgan Chase & Co. now owns 28,718 shares of the company's stock valued at $1,066,000 after acquiring an additional 4,123 shares during the last quarter. Raymond James & Associates boosted its stake in Cassava Sciences by 22.7% in the 1st quarter. Raymond James & Associates now owns 53,607 shares of the company's stock worth $1,991,000 after buying an additional 9,916 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in Cassava Sciences by 44.5% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 11,945 shares of the company's stock worth $444,000 after buying an additional 3,680 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Cassava Sciences by 0.6% in the 1st 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 during the last quarter. Institutional investors and hedge funds own 38.05% of the company's stock.
About Cassava Sciences
(
Get Free Report)
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.
Further Reading
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