Cassava Sciences, Inc. (NASDAQ:SAVA - Get Free Report) shot up 6.2% during mid-day trading on Tuesday . The company traded as high as $21.64 and last traded at $21.26. 719,466 shares were traded during trading, a decline of 5% from the average session volume of 755,018 shares. The stock had previously closed at $20.01.
Analyst Upgrades and Downgrades
Separately, HC Wainwright reissued a "buy" rating and set a $124.00 price target on shares of Cassava Sciences in a report on Tuesday, March 5th.
Read Our Latest Stock Analysis on Cassava Sciences
Cassava Sciences Price Performance
The stock has a market capitalization of $909.55 million, a PE ratio of -9.06 and a beta of -0.45. The stock's fifty day moving average is $21.99 and its 200-day moving average is $19.67.
Cassava Sciences (NASDAQ:SAVA - Get Free Report) last posted its quarterly earnings data on Wednesday, February 28th. The company reported ($0.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.40) by ($0.10). On average, analysts forecast that Cassava Sciences, Inc. will post -2.01 EPS for the current year.
Hedge Funds Weigh In On Cassava Sciences
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. NBC Securities Inc. lifted its holdings in Cassava Sciences by 9.3% during the first quarter. NBC Securities Inc. now owns 7,650 shares of the company's stock valued at $155,000 after purchasing an additional 650 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Cassava Sciences by 2.5% during the fourth quarter. Vanguard Group Inc. now owns 2,324,626 shares of the company's stock valued at $52,327,000 after purchasing an additional 56,060 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in Cassava Sciences by 203.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 161,659 shares of the company's stock valued at $3,639,000 after purchasing an additional 108,456 shares in the last quarter. Virtu Financial LLC raised its position in shares of Cassava Sciences by 120.3% in the fourth quarter. Virtu Financial LLC now owns 49,128 shares of the company's stock valued at $1,106,000 after buying an additional 26,824 shares during the last quarter. Finally, Cable Car Capital LLC acquired a new stake in shares of Cassava Sciences in the fourth quarter valued at about $1,204,000. 38.05% of the stock is owned by hedge funds and other institutional investors.
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.
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