Cassava Sciences (NASDAQ:SAVA) Given Neutral Rating at HC Wainwright

Cassava Sciences (NASDAQ:SAVA)‘s stock had its “neutral” rating reissued by HC Wainwright in a research report issued on Tuesday,Benzinga reports.

Cassava Sciences Trading Up 2.2 %

SAVA traded up $0.06 during trading hours on Tuesday, hitting $2.54. The company’s stock had a trading volume of 624,370 shares, compared to its average volume of 2,831,539. The stock has a market cap of $121.96 million, a price-to-earnings ratio of -1.84 and a beta of -0.95. The business’s 50-day moving average price is $2.53 and its 200-day moving average price is $15.30. Cassava Sciences has a 12 month low of $2.23 and a 12 month high of $42.20.

Cassava Sciences (NASDAQ:SAVA) last announced its earnings results on Monday, March 3rd. The company reported ($0.57) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.68) by $0.11. On average, analysts forecast that Cassava Sciences will post -3.97 earnings per share for the current year.

Hedge Funds Weigh In On Cassava Sciences

Several large investors have recently modified their holdings of the stock. Quest Partners LLC lifted its holdings in shares of Cassava Sciences by 117.8% in the 3rd quarter. Quest Partners LLC now owns 1,997 shares of the company’s stock worth $59,000 after acquiring an additional 1,080 shares during the last quarter. KBC Group NV acquired a new stake in shares of Cassava Sciences during the third quarter worth $57,000. Johnson Investment Counsel Inc. increased its position 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 acquiring an additional 5,000 shares during the period. BNP Paribas Financial Markets raised its stake in Cassava Sciences by 150.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 8,748 shares of the company’s stock worth $257,000 after acquiring an additional 5,250 shares during the last quarter. Finally, Creative Planning acquired a new stake in Cassava Sciences during the 3rd quarter worth about $201,000. 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.