Cassava Sciences (NASDAQ:SAVA) Lifted to “Buy” at HC Wainwright

HC Wainwright upgraded shares of Cassava Sciences (NASDAQ:SAVA) from a neutral rating to a buy rating in a research report released on Tuesday morning, MarketBeat reports. HC Wainwright currently has $116.00 target price on the stock. HC Wainwright also issued estimates for Cassava Sciences’ FY2025 earnings at ($1.75) EPS.

Separately, Rodman & Renshaw restated a buy rating and set a $107.00 price objective on shares of Cassava Sciences in a research report on Thursday, August 8th.

Cassava Sciences Stock Performance

SAVA opened at $24.86 on Tuesday. Cassava Sciences has a 52-week low of $8.79 and a 52-week high of $42.20. The firm has a market cap of $1.19 billion, a P/E ratio of -11.47 and a beta of -0.63. The business’s fifty day moving average is $28.19 and its 200-day moving average is $22.15.

Cassava Sciences (NASDAQ:SAVA) last released its earnings results on Thursday, August 8th. The company reported $0.13 EPS for the quarter, beating the consensus estimate of ($0.44) by $0.57. During the same quarter in the prior year, the business earned ($0.63) earnings per share. On average, research analysts predict that Cassava Sciences will post -5.7 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Bluefin Capital Management LLC acquired a new position in Cassava Sciences during the 4th quarter worth approximately $410,000. Cable Car Capital LLC bought a new position in shares of Cassava Sciences in the 4th quarter valued at $1,204,000. Virtu Financial LLC boosted its holdings in shares of Cassava Sciences by 120.3% during the 4th quarter. Virtu Financial LLC now owns 49,128 shares of the company’s stock valued at $1,106,000 after acquiring an additional 26,824 shares in the last quarter. NBC Securities Inc. boosted its holdings in shares of Cassava Sciences by 9.3% during the 1st quarter. NBC Securities Inc. now owns 7,650 shares of the company’s stock valued at $155,000 after acquiring an additional 650 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. grew its position in Cassava Sciences by 14.4% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 25,092 shares of the company’s stock worth $509,000 after acquiring an additional 3,151 shares during the last quarter. Institutional investors 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.