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

Cassava Sciences (NASDAQ:SAVA)‘s stock had its “neutral” rating reiterated by equities researchers at HC Wainwright in a note issued to investors on Tuesday,Benzinga reports.

Cassava Sciences Trading Up 3.0 %

Shares of NASDAQ:SAVA opened at $2.76 on Tuesday. The stock’s fifty day simple moving average is $2.55 and its two-hundred day simple moving average is $15.03. Cassava Sciences has a 1-year low of $2.23 and a 1-year high of $42.20. The stock has a market cap of $132.78 million, a PE ratio of -2.00 and a beta of -1.24.

Cassava Sciences (NASDAQ:SAVA) last issued its quarterly 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. On average, sell-side analysts forecast that Cassava Sciences will post -3.97 earnings per share for the current fiscal year.

Institutional Trading of Cassava Sciences

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC boosted its stake in Cassava Sciences by 4.3% in the third quarter. Geode Capital Management LLC now owns 1,008,593 shares of the company’s stock worth $29,688,000 after buying an additional 41,289 shares in the last quarter. Two Sigma Advisers LP purchased a new stake in shares of Cassava Sciences during the fourth quarter valued at approximately $1,432,000. Two Sigma Investments LP boosted its stake in shares of Cassava Sciences by 679.1% during the fourth quarter. Two Sigma Investments LP now owns 562,082 shares of the company’s stock valued at $1,327,000 after purchasing an additional 489,936 shares during the period. Northern Trust Corp boosted its stake in shares of Cassava Sciences by 2.7% during the fourth quarter. Northern Trust Corp now owns 406,562 shares of the company’s stock valued at $959,000 after purchasing an additional 10,782 shares during the period. Finally, Tidal Investments LLC purchased a new stake in shares of Cassava Sciences during the third quarter valued at approximately $11,036,000. 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.