Shares of Cassava Sciences, Inc. (NASDAQ:SAVA - Get Free Report) fell 6% on Friday . The company traded as low as $19.72 and last traded at $19.92. 718,081 shares traded hands during mid-day trading, a decline of 6% from the average session volume of 762,997 shares. The stock had previously closed at $21.19.
Analyst Upgrades and Downgrades
Separately, HC Wainwright reiterated a "buy" rating and issued a $124.00 price objective on shares of Cassava Sciences in a research report on Tuesday, March 5th.
Get Our Latest Report on SAVA
Cassava Sciences Trading Down 7.3 %
The company has a market cap of $849.43 million, a PE ratio of -8.52 and a beta of -0.45. The stock has a 50 day moving average price of $21.83 and a 200 day moving average price of $19.70.
Cassava Sciences (NASDAQ:SAVA - Get Free Report) last released its 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 expect that Cassava Sciences, Inc. will post -2.01 EPS for the current fiscal year.
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in the stock. Hennion & Walsh Asset Management Inc. raised its stake in Cassava Sciences by 14.4% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 25,092 shares of the company's stock valued at $509,000 after buying an additional 3,151 shares during the last quarter. NBC Securities Inc. raised its stake 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 buying an additional 650 shares during the last quarter. Vanguard Group Inc. raised its stake 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 buying an additional 56,060 shares during the last quarter. Goldman Sachs Group Inc. raised its stake 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 buying an additional 108,456 shares during the last quarter. Finally, Virtu Financial LLC raised its stake in Cassava Sciences by 120.3% during 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. Hedge funds and other institutional investors 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.
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