Cassava Sciences (NASDAQ:SAVA) Earns “Neutral” Rating from HC Wainwright

Cassava Sciences (NASDAQ:SAVA)‘s stock had its “neutral” rating restated by HC Wainwright in a research report issued on Tuesday,Benzinga reports. They presently have a $2.00 target price on the stock. HC Wainwright’s target price would suggest a potential upside of 14.29% from the company’s previous close.

Cassava Sciences Stock Down 7.9 %

SAVA opened at $1.75 on Tuesday. Cassava Sciences has a 52 week low of $1.74 and a 52 week high of $42.20. The business has a 50 day moving average price of $2.53 and a two-hundred day moving average price of $12.25. The company has a market cap of $84.54 million, a PE ratio of -1.27 and a beta of -1.24.

Cassava Sciences (NASDAQ:SAVA) last released its earnings results on Monday, March 3rd. The company reported ($0.57) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.68) by $0.11. As a group, sell-side analysts expect that Cassava Sciences will post -3.97 EPS for the current fiscal year.

Institutional Trading of Cassava Sciences

Hedge funds and other institutional investors have recently made changes to their positions in the company. Quest Partners LLC lifted its position in Cassava Sciences by 117.8% in the third quarter. Quest Partners LLC now owns 1,997 shares of the company’s stock valued at $59,000 after purchasing an additional 1,080 shares during the period. Johnson Investment Counsel Inc. lifted its holdings in shares of Cassava Sciences by 71.4% in the 4th quarter. Johnson Investment Counsel Inc. now owns 12,000 shares of the company’s stock valued at $28,000 after buying an additional 5,000 shares during the period. BNP Paribas Financial Markets boosted its stake in shares of Cassava Sciences by 150.1% in the third quarter. BNP Paribas Financial Markets now owns 8,748 shares of the company’s stock valued at $257,000 after buying an additional 5,250 shares in the last quarter. Independent Advisor Alliance acquired a new position in Cassava Sciences during the third quarter worth $208,000. Finally, CANADA LIFE ASSURANCE Co raised its position in Cassava Sciences by 198.4% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 11,380 shares of the company’s stock worth $27,000 after acquiring an additional 7,566 shares in the last quarter. Hedge funds and other 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.