Cassava Sciences (NASDAQ:SAVA) Stock Price Up 5.7%

Cassava Sciences, Inc. (NASDAQ:SAVA - Get Free Report)'s share price was up 5.7% during mid-day trading on Monday . The company traded as high as $22.58 and last traded at $22.52. Approximately 215,274 shares were traded during trading, a decline of 68% from the average daily volume of 666,202 shares. The stock had previously closed at $21.31.

Analyst Ratings Changes

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

Cassava Sciences Stock Performance

The stock has a market capitalization of $1.02 billion, a P/E ratio of -9.99 and a beta of -0.45. The business has a fifty day simple moving average of $22.08 and a 200-day simple moving average of $19.13.

Cassava Sciences (NASDAQ:SAVA - Get Free Report) last issued its earnings results on Wednesday, February 28th. The company reported ($0.50) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.40) by ($0.10). On average, sell-side analysts anticipate that Cassava Sciences, Inc. will post -2.01 earnings per share for the current year.

Hedge Funds Weigh In On Cassava Sciences

A number of large investors have recently modified their holdings of the company. BlackRock Inc. lifted its holdings in shares of Cassava Sciences by 4.7% in the 2nd quarter. BlackRock Inc. now owns 2,746,908 shares of the company's stock worth $67,354,000 after purchasing an additional 124,231 shares in the last quarter. Vanguard Group Inc. raised its position in Cassava Sciences by 2.5% in the 4th quarter. Vanguard Group Inc. now owns 2,324,626 shares of the company's stock valued at $52,327,000 after buying an additional 56,060 shares during the last quarter. State Street Corp raised its position in Cassava Sciences by 6.5% in the 1st quarter. State Street Corp now owns 1,058,949 shares of the company's stock valued at $25,542,000 after buying an additional 64,903 shares during the last quarter. Geode Capital Management LLC raised its position in Cassava Sciences by 5.8% in the 2nd quarter. Geode Capital Management LLC now owns 803,306 shares of the company's stock valued at $19,697,000 after buying an additional 44,350 shares during the last quarter. Finally, Gallacher Capital Management LLC raised its position in Cassava Sciences by 0.7% in the 4th quarter. Gallacher Capital Management LLC now owns 581,606 shares of the company's stock valued at $13,092,000 after buying an additional 3,782 shares during the last quarter. 38.05% of the stock is currently owned by institutional investors.

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.