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

Cassava Sciences (NASDAQ:SAVA)‘s stock had its “neutral” rating reaffirmed by stock analysts at HC Wainwright in a research note issued to investors on Tuesday,Benzinga reports. They presently have a $2.00 price objective on the stock. HC Wainwright’s price target indicates a potential downside of 4.99% from the stock’s current price.

Cassava Sciences Stock Performance

Cassava Sciences stock traded down $0.70 during trading hours on Tuesday, hitting $2.11. 5,379,810 shares of the stock were exchanged, compared to its average volume of 1,868,111. Cassava Sciences has a 12 month low of $2.12 and a 12 month high of $42.20. The business’s 50-day moving average is $2.56 and its two-hundred day moving average is $12.50. The stock has a market capitalization of $101.69 million, a P/E ratio of -1.53 and a beta of -1.24.

Cassava Sciences (NASDAQ:SAVA) last posted its quarterly earnings data on Monday, March 3rd. The company reported ($0.57) EPS for the quarter, topping analysts’ consensus estimates of ($0.68) by $0.11. On average, equities analysts predict that Cassava Sciences will post -3.97 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cassava Sciences

Institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC increased its holdings in shares of 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 purchasing an additional 41,289 shares in the last quarter. BNP Paribas Financial Markets boosted its position in Cassava Sciences by 150.1% in the 3rd 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 during the last quarter. Intech Investment Management LLC acquired a new stake in shares of Cassava Sciences in the 3rd quarter valued at $373,000. Tidal Investments LLC bought a new stake in shares of Cassava Sciences during the third quarter worth $11,036,000. Finally, Wellington Management Group LLP bought a new stake in shares of Cassava Sciences during the third quarter worth $605,000. 38.05% of the stock is 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.