Cassava Sciences (NASDAQ:SAVA) Shares Up 4.8% – Time to Buy?

by · The Cerbat Gem

Cassava Sciences, Inc. (NASDAQ:SAVA – Get Free Report) shot up 4.8% on Thursday . The stock traded as high as $26.58 and last traded at $26.38. 818,439 shares changed hands during trading, a decline of 52% from the average session volume of 1,697,288 shares. The stock had previously closed at $25.18.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. HC Wainwright reissued a “buy” rating and issued a $116.00 price objective on shares of Cassava Sciences in a research report on Friday, November 8th. Rodman & Renshaw reissued a “buy” rating and issued a $107.00 price target on shares of Cassava Sciences in a report on Thursday, August 8th.

View Our Latest Stock Report on Cassava Sciences

Cassava Sciences Stock Up 3.8 %

The firm has a market capitalization of $1.26 billion, a price-to-earnings ratio of -18.77 and a beta of -0.59. The business has a 50-day moving average of $27.56 and a two-hundred day moving average of $23.12.

Cassava Sciences (NASDAQ:SAVA – Get Free Report) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.58) earnings per share for the quarter, topping the consensus estimate of ($1.37) by $0.79. During the same period last year, the business posted ($0.61) EPS. Equities analysts predict that Cassava Sciences, Inc. will post -3.63 EPS for the current fiscal year.

Institutional Investors Weigh In On Cassava Sciences

Institutional investors have recently bought and sold shares of the business. BNP Paribas Financial Markets lifted its holdings in shares of Cassava Sciences by 9.4% during the 1st quarter. BNP Paribas Financial Markets now owns 20,885 shares of the company’s stock worth $424,000 after acquiring an additional 1,786 shares during the period. Janney Montgomery Scott LLC lifted its stake in Cassava Sciences by 3.6% during the first quarter. Janney Montgomery Scott LLC now owns 14,690 shares of the company’s stock worth $298,000 after purchasing an additional 506 shares during the period. State Board of Administration of Florida Retirement System boosted its holdings in Cassava Sciences by 5.7% during the first quarter. State Board of Administration of Florida Retirement System now owns 12,149 shares of the company’s stock valued at $247,000 after purchasing an additional 650 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Cassava Sciences by 1.4% during the first quarter. Vanguard Group Inc. now owns 2,356,480 shares of the company’s stock valued at $47,813,000 after purchasing an additional 31,854 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co grew its stake in shares of Cassava Sciences by 146.7% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 9,408 shares of the company’s stock valued at $191,000 after purchasing an additional 5,594 shares during the period. Institutional investors and hedge funds own 38.05% of the company’s stock.

Cassava Sciences Company Profile

(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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