Cassava Sciences (NASDAQ:SAVA) Trading Up 4.6%

Cassava Sciences, Inc. (NASDAQ:SAVA)’s stock price rose 4.6% during trading on Thursday . The company traded as high as $21.69 and last traded at $21.69. Approximately 481,305 shares were traded during mid-day trading, a decline of 37% from the average daily volume of 759,684 shares. The stock had previously closed at $20.74.

Analyst Ratings Changes

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $124.00 price objective on shares of Cassava Sciences in a research report on Tuesday, March 5th.

Cassava Sciences Price Performance

The firm has a market cap of $939.74 million, a PE ratio of -8.94 and a beta of -0.45. The stock has a 50-day moving average price of $21.50 and a 200 day moving average price of $19.95.

Cassava Sciences (NASDAQ:SAVA) last announced its quarterly earnings data on Wednesday, February 28th. The company reported ($0.50) EPS for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.10). As a group, equities research analysts anticipate that Cassava Sciences, Inc. will post -2.01 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Montag A & Associates Inc. boosted its holdings in Cassava Sciences by 50.0% in the third quarter. Montag A & Associates Inc. now owns 1,500 shares of the company’s stock valued at $25,000 after acquiring an additional 500 shares during the last quarter. Teacher Retirement System of Texas boosted its holdings in 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 acquiring an additional 509 shares during the last quarter. Raymond James & Associates boosted its holdings in Cassava Sciences by 0.8% in the fourth quarter. Raymond James & Associates now owns 74,097 shares of the company’s stock valued at $1,668,000 after acquiring an additional 565 shares during the last quarter. NBC Securities Inc. boosted its holdings in Cassava Sciences by 9.3% in the first quarter. NBC Securities Inc. now owns 7,650 shares of the company’s stock valued at $155,000 after acquiring an additional 650 shares during the last quarter. Finally, Swiss National Bank boosted its holdings in Cassava Sciences by 0.9% in the third quarter. Swiss National Bank now owns 87,200 shares of the company’s stock valued at $1,451,000 after acquiring an additional 800 shares during 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.