Cassava Sciences (NASDAQ:SAVA) Sees Large Volume Increase

Shares of Cassava Sciences, Inc. (NASDAQ:SAVA - Get Free Report) saw unusually-high trading volume on Monday . Approximately 879,612 shares changed hands during trading, an increase of 19% from the previous session's volume of 737,855 shares.The stock last traded at $20.62 and had previously closed at $22.75.

Wall Street Analysts Forecast Growth

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

Cassava Sciences Stock Performance

The company has a market capitalization of $865.35 million, a P/E ratio of -8.63 and a beta of -0.45. The firm has a 50 day moving average price of $22.10 and a two-hundred day moving average price of $19.55.

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Envestnet Asset Management Inc. lifted its holdings in Cassava Sciences by 34.7% during the first quarter. Envestnet Asset Management Inc. now owns 6,737 shares of the company's stock worth $250,000 after acquiring an additional 1,736 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Cassava Sciences by 16.8% during the first quarter. JPMorgan Chase & Co. now owns 28,718 shares of the company's stock worth $1,066,000 after acquiring an additional 4,123 shares in the last quarter. Raymond James & Associates lifted its holdings in Cassava Sciences by 22.7% during the first quarter. Raymond James & Associates now owns 53,607 shares of the company's stock worth $1,991,000 after acquiring an additional 9,916 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in Cassava Sciences by 44.5% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 11,945 shares of the company's stock worth $444,000 after acquiring an additional 3,680 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in Cassava Sciences by 0.6% during the first quarter. Bank of New York Mellon Corp now owns 122,993 shares of the company's stock worth $4,568,000 after acquiring an additional 712 shares in the last quarter. Institutional investors and hedge funds own 38.05% of the company's stock.

About Cassava Sciences

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.