Cassava Sciences, Inc. (NASDAQ:SAVA - Get Free Report)'s stock price was down 9% during mid-day trading on Friday . The stock traded as low as $22.99 and last traded at $23.75. Approximately 842,280 shares were traded during trading, an increase of 17% from the average daily volume of 722,111 shares. The stock had previously closed at $26.11.
Analysts Set New Price Targets
Separately, HC Wainwright reiterated a "buy" rating and set a $124.00 target price on shares of Cassava Sciences in a research report on Tuesday, March 5th.
Read Our Latest Stock Report on SAVA
Cassava Sciences Price Performance
The firm has a 50-day moving average of $22.12 and a 200-day moving average of $19.38. The stock has a market cap of $983.94 million, a PE ratio of -10.35 and a beta of -0.45.
Cassava Sciences (NASDAQ:SAVA - Get Free Report) last announced its quarterly earnings results on Wednesday, February 28th. The company reported ($0.50) EPS for the quarter, missing analysts' consensus estimates of ($0.40) by ($0.10). Equities analysts forecast that Cassava Sciences, Inc. will post -2.01 EPS for the current fiscal year.
Hedge Funds Weigh In On Cassava Sciences
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Impact Partnership Wealth LLC bought a new stake in shares of Cassava Sciences in the 3rd quarter valued at approximately $25,000. Montag A & Associates Inc. lifted its stake in shares of Cassava Sciences by 50.0% in the 3rd quarter. Montag A & Associates Inc. now owns 1,500 shares of the company's stock valued at $25,000 after purchasing an additional 500 shares during the last quarter. Northwest Financial Advisors bought a new stake in shares of Cassava Sciences in the 4th quarter valued at approximately $25,000. Benjamin F. Edwards & Company Inc. lifted its stake in shares of Cassava Sciences by 653.6% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 1,153 shares of the company's stock valued at $26,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Captrust Financial Advisors lifted its stake in shares of Cassava Sciences by 484.7% in the 1st quarter. Captrust Financial Advisors now owns 877 shares of the company's stock valued at $33,000 after purchasing an additional 727 shares during the last quarter. 38.05% of the stock is owned by institutional investors.
Cassava Sciences Company Profile
(
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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