Cassava Sciences (NASDAQ:SAVA) Cut to “Sell” at Wall Street Zen

by · The Markets Daily

Wall Street Zen cut shares of Cassava Sciences (NASDAQ:SAVA – Free Report) from a hold rating to a sell rating in a research note released on Saturday morning.

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Cassava Sciences in a research note on Friday, December 26th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Reduce” and a consensus price target of $2.00.

Read Our Latest Report on Cassava Sciences

Cassava Sciences Stock Performance

Shares of SAVA stock opened at $2.32 on Friday. Cassava Sciences has a fifty-two week low of $1.15 and a fifty-two week high of $4.98. The firm has a market capitalization of $112.08 million, a PE ratio of -1.06 and a beta of -0.85. The stock’s 50-day simple moving average is $2.12 and its 200-day simple moving average is $2.67.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in Cassava Sciences by 5.5% in the third quarter. Vanguard Group Inc. now owns 2,289,523 shares of the company’s stock worth $6,663,000 after acquiring an additional 119,451 shares in the last quarter. Marshall Wace LLP raised its stake in shares of Cassava Sciences by 2.6% in the 4th quarter. Marshall Wace LLP now owns 2,115,307 shares of the company’s stock valued at $4,188,000 after acquiring an additional 54,021 shares during the period. Two Sigma Investments LP lifted its position in shares of Cassava Sciences by 7.3% during the third quarter. Two Sigma Investments LP now owns 564,998 shares of the company’s stock worth $1,644,000 after purchasing an additional 38,483 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Cassava Sciences by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 545,969 shares of the company’s stock worth $1,081,000 after acquiring an additional 8,068 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Cassava Sciences by 77.9% during the first quarter. Goldman Sachs Group Inc. now owns 496,313 shares of the company’s stock valued at $744,000 after acquiring an additional 217,404 shares during the period. Hedge funds and other institutional investors own 38.05% of the company’s stock.

About Cassava Sciences

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Cassava Sciences, Inc is a clinical-stage biopharmaceutical company focused on the development of novel therapies and diagnostics for Alzheimer’s disease and related neurodegenerative disorders. Headquartered in Austin, Texas, the company was originally founded as Pain Therapeutics in 1998 and rebranded to Cassava Sciences in 2017. Cassava’s research program centers on small molecules designed to address underlying mechanisms of neurodegeneration rather than solely targeting amyloid plaques or tau tangles.

The company’s lead drug candidate, simufilam (formerly PTI-125), is a proprietary small molecule that aims to restore normal shape and function to the scaffolding protein filamin A, which has been implicated in impaired neuronal signaling and inflammation in Alzheimer’s patients.

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