Cassava Sciences (NASDAQ:SAVA) Lowered to “Neutral” Rating by HC Wainwright

HC Wainwright cut shares of Cassava Sciences (NASDAQ:SAVA) from a buy rating to a neutral rating in a report released on Tuesday morning, MarketBeat Ratings reports. They currently have $116.00 target price on the stock. HC Wainwright also issued estimates for Cassava Sciences’ Q4 2024 earnings at ($0.68) EPS, FY2024 earnings at ($3.97) EPS and FY2025 earnings at ($0.62) EPS.

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

Cassava Sciences Stock Up 3.9 %

Shares of NASDAQ:SAVA opened at $3.98 on Tuesday. The stock has a market cap of $191.48 million, a PE ratio of -2.88 and a beta of -0.59. The company’s fifty day moving average is $25.47 and its 200 day moving average is $22.91. Cassava Sciences has a 52 week low of $3.65 and a 52 week high of $42.20.

Cassava Sciences (NASDAQ:SAVA) last released its quarterly earnings data on Thursday, November 7th. The company reported ($0.58) EPS for the quarter, topping the consensus estimate of ($1.37) by $0.79. During the same period in the previous year, the company posted ($0.61) earnings per share. Sell-side analysts anticipate that Cassava Sciences will post -3.63 EPS for the current year.

Institutional Trading of Cassava Sciences

A number of institutional investors have recently modified their holdings of SAVA. Vanguard Group Inc. lifted its holdings in Cassava Sciences by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 2,356,480 shares of the company’s stock worth $47,813,000 after buying an additional 31,854 shares during the period. Geode Capital Management LLC boosted its holdings in Cassava Sciences by 4.3% in the third quarter. Geode Capital Management LLC now owns 1,008,593 shares of the company’s stock valued at $29,688,000 after acquiring an additional 41,289 shares in the last quarter. Tidal Investments LLC purchased a new position in Cassava Sciences during the 3rd quarter valued at $11,036,000. Charles Schwab Investment Management Inc. raised its holdings in Cassava Sciences by 3.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 361,797 shares of the company’s stock worth $10,648,000 after purchasing an additional 10,429 shares in the last quarter. Finally, Clear Creek Financial Management LLC lifted its position in shares of Cassava Sciences by 5.5% in the 3rd quarter. Clear Creek Financial Management LLC now owns 153,533 shares of the company’s stock worth $4,518,000 after purchasing an additional 7,983 shares during the period. 38.05% of the stock is currently owned by hedge funds and other institutional investors.

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.