Shares of Cassava Sciences, Inc. (NASDAQ:SAVA - Get Free Report) saw unusually-strong trading volume on Tuesday . Approximately 1,462,683 shares were traded during trading, an increase of 111% from the previous session's volume of 693,385 shares.The stock last traded at $24.83 and had previously closed at $23.57.
Wall Street Analysts Forecast Growth
Separately, HC Wainwright restated a "buy" rating and set a $124.00 target price on shares of Cassava Sciences in a research report on Tuesday, March 5th.
View Our Latest Research Report on Cassava Sciences
Cassava Sciences Trading Up 7.8 %
The stock has a fifty day moving average of $22.05 and a two-hundred day moving average of $19.21. The stock has a market capitalization of $1.10 billion, a price-to-earnings ratio of -10.76 and a beta of -0.45.
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 the consensus estimate of ($0.40) by ($0.10). Equities analysts expect that Cassava Sciences, Inc. will post -2.01 earnings per share for the current year.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in SAVA. Clear Creek Financial Management LLC lifted its holdings in Cassava Sciences by 29.0% during the fourth quarter. Clear Creek Financial Management LLC now owns 134,605 shares of the company's stock worth $3,030,000 after acquiring an additional 30,265 shares in the last quarter. C M Bidwell & Associates Ltd. acquired a new position in Cassava Sciences during the second quarter worth approximately $157,000. Bank of New York Mellon Corp grew its position in shares of Cassava Sciences by 2.8% in the third quarter. Bank of New York Mellon Corp now owns 135,104 shares of the company's stock valued at $2,248,000 after purchasing an additional 3,739 shares during the last quarter. NBC Securities Inc. acquired a new position in shares of Cassava Sciences in the third quarter valued at approximately $66,000. Finally, Teacher Retirement System of Texas grew its position in shares of Cassava Sciences by 4.7% in the third quarter. Teacher Retirement System of Texas now owns 11,269 shares of the company's stock valued at $188,000 after purchasing an additional 509 shares during the last quarter. 38.05% of the stock is currently owned by 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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