Cassava Sciences (NASDAQ:SAVA) Sets New 52-Week High at $40.71

Cassava Sciences, Inc. (NASDAQ:SAVA)’s stock price reached a new 52-week high during trading on Monday . The stock traded as high as $40.71 and last traded at $40.38, with a volume of 10231602 shares. The stock had previously closed at $29.11.

Analysts Set New Price Targets

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

Cassava Sciences Price Performance

The company has a market cap of $1.45 billion, a P/E ratio of -13.92 and a beta of -0.57. The stock’s 50-day moving average is $17.20 and its two-hundred day moving average is $20.45.

Cassava Sciences (NASDAQ:SAVA) last issued its quarterly earnings data on Friday, May 10th. The company reported ($1.41) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.90). On average, analysts predict that Cassava Sciences, Inc. will post -1.86 EPS for the current year.

Institutional Trading of Cassava Sciences

Institutional investors and hedge funds have recently modified their holdings of the company. Northwest Financial Advisors purchased a new position in Cassava Sciences during the fourth quarter valued at $25,000. Benjamin F. Edwards & Company Inc. grew its stake in shares of Cassava Sciences by 653.6% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 1,153 shares of the company’s stock worth $26,000 after buying an additional 1,000 shares in the last quarter. EntryPoint Capital LLC grew its stake in shares of Cassava Sciences by 1,251.2% in the 1st quarter. EntryPoint Capital LLC now owns 2,297 shares of the company’s stock worth $47,000 after buying an additional 2,127 shares in the last quarter. Byrne Asset Management LLC grew its stake in shares of Cassava Sciences by 32.9% in the 4th quarter. Byrne Asset Management LLC now owns 3,350 shares of the company’s stock worth $75,000 after buying an additional 830 shares in the last quarter. Finally, Quest Partners LLC purchased a new position in shares of Cassava Sciences in the 4th quarter worth $118,000. 38.05% of the stock is currently owned by 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.