Cassava Sciences (NASDAQ:SAVA) Trading Up 5.1%

Cassava Sciences, Inc. (NASDAQ:SAVA) shares traded up 5.1% on Wednesday . The stock traded as high as $29.86 and last traded at $29.42. 866,943 shares were traded during mid-day trading, a decline of 49% from the average session volume of 1,700,221 shares. The stock had previously closed at $27.98.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on SAVA. Rodman & Renshaw restated a “buy” rating and issued a $107.00 target price on shares of Cassava Sciences in a research note on Thursday, August 8th. HC Wainwright reissued a “neutral” rating on shares of Cassava Sciences in a research note on Tuesday, August 13th.

Cassava Sciences Stock Performance

The firm has a market capitalization of $1.29 billion, a P/E ratio of -12.44 and a beta of -0.63. The firm has a 50 day simple moving average of $20.68 and a two-hundred day simple moving average of $21.03.

Cassava Sciences (NASDAQ:SAVA) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of ($0.44) by $0.57. During the same quarter in the previous year, the firm earned ($0.63) EPS. Sell-side analysts anticipate that Cassava Sciences, Inc. will post -5.7 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Northwest Financial Advisors purchased a new position in shares of Cassava Sciences in the fourth quarter worth about $25,000. Benjamin F. Edwards & Company Inc. raised its stake in shares of Cassava Sciences by 653.6% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 1,153 shares of the company’s stock valued at $26,000 after purchasing an additional 1,000 shares during the period. EntryPoint Capital LLC grew its holdings in Cassava Sciences by 1,251.2% during the 1st quarter. EntryPoint Capital LLC now owns 2,297 shares of the company’s stock valued at $47,000 after buying an additional 2,127 shares in the last quarter. Quest Partners LLC purchased a new position in Cassava Sciences during the fourth quarter valued at approximately $118,000. Finally, Dark Forest Capital Management LP bought a new stake in Cassava Sciences during the 2nd quarter worth approximately $131,000. Institutional investors own 38.05% of the company’s stock.

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.