Cassava Sciences’ (SAVA) Neutral Rating Reiterated at HC Wainwright

HC Wainwright reaffirmed their neutral rating on shares of Cassava Sciences (NASDAQ:SAVA) in a research note published on Tuesday morning,Benzinga reports. They currently have a $2.00 price objective on the stock.

Cassava Sciences Price Performance

NASDAQ SAVA opened at $1.70 on Tuesday. The business’s fifty day moving average is $2.51 and its 200-day moving average is $12.18. The stock has a market capitalization of $82.12 million, a price-to-earnings ratio of -1.23 and a beta of -1.24. Cassava Sciences has a one year low of $1.63 and a one year high of $42.20.

Cassava Sciences (NASDAQ:SAVA) last announced its quarterly earnings data on Monday, March 3rd. The company reported ($0.57) EPS for the quarter, topping the consensus estimate of ($0.68) by $0.11. Research analysts expect that Cassava Sciences will post -3.97 EPS for the current fiscal year.

Institutional Trading of Cassava Sciences

Several hedge funds have recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Cassava Sciences by 23.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 75,084 shares of the company’s stock worth $177,000 after acquiring an additional 14,190 shares during the last quarter. Two Sigma Advisers LP bought a new position in Cassava Sciences during the fourth quarter worth about $1,432,000. Two Sigma Investments LP increased its stake in shares of Cassava Sciences by 679.1% in the fourth quarter. Two Sigma Investments LP now owns 562,082 shares of the company’s stock worth $1,327,000 after purchasing an additional 489,936 shares in the last quarter. Sherbrooke Park Advisers LLC purchased a new stake in shares of Cassava Sciences during the 4th quarter valued at approximately $117,000. Finally, Ensign Peak Advisors Inc boosted its holdings in Cassava Sciences by 122.6% in the 4th quarter. Ensign Peak Advisors Inc now owns 36,496 shares of the company’s stock worth $86,000 after buying an additional 20,100 shares during the period. 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.