Cassava Sciences (NASDAQ:SAVA) Shares Down 4.4%

Cassava Sciences, Inc. (NASDAQ:SAVA)’s share price fell 4.4% during mid-day trading on Tuesday . The stock traded as low as $12.21 and last traded at $12.26. 1,708,882 shares changed hands during mid-day trading, an increase of 30% from the average session volume of 1,309,668 shares. The stock had previously closed at $12.83.

Wall Street Analyst Weigh In

Separately, HC Wainwright restated a “neutral” rating on shares of Cassava Sciences in a report on Friday, July 19th.

Cassava Sciences Trading Up 8.9 %

The stock has a market capitalization of $611.75 million, a price-to-earnings ratio of -5.88 and a beta of -0.57. The firm has a 50-day moving average of $16.92 and a 200-day moving average of $20.61.

Cassava Sciences (NASDAQ:SAVA) last announced its earnings results on Friday, May 10th. The company reported ($1.41) earnings per share for the quarter, missing the consensus estimate of ($0.51) by ($0.90). On average, equities research analysts anticipate that Cassava Sciences, Inc. will post -1.86 EPS for the current year.

Institutional Trading of Cassava Sciences

A number of large investors have recently made changes to their positions in the company. Cable Car Capital LLC purchased a new position in shares of Cassava Sciences in the 4th quarter valued at approximately $1,204,000. Vanguard Group Inc. increased its stake in Cassava Sciences by 1.4% in 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 during the last quarter. Clear Creek Financial Management LLC increased its stake in shares of Cassava Sciences by 29.0% during the 4th quarter. Clear Creek Financial Management LLC now owns 134,605 shares of the company’s stock valued at $3,030,000 after acquiring an additional 30,265 shares during the last quarter. Virtu Financial LLC boosted its holdings in shares of Cassava Sciences by 120.3% in the 4th quarter. Virtu Financial LLC now owns 49,128 shares of the company’s stock valued at $1,106,000 after purchasing an additional 26,824 shares during the last quarter. Finally, Essex LLC grew its holdings in shares of Cassava Sciences by 186.1% during the 4th quarter. Essex LLC now owns 34,774 shares of the company’s stock worth $783,000 after purchasing an additional 22,620 shares during the period. 38.05% of the stock is currently owned by hedge funds and other institutional investors.

Cassava Sciences Company Profile

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.