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

HC Wainwright reaffirmed their neutral rating on shares of Cassava Sciences (NASDAQ:SAVA) in a report published on Tuesday,Benzinga reports. The firm currently has a $2.00 price objective on the stock.

Cassava Sciences Stock Performance

Cassava Sciences stock opened at $1.90 on Tuesday. Cassava Sciences has a 52 week low of $1.80 and a 52 week high of $42.20. The firm has a market cap of $91.79 million, a P/E ratio of -1.38 and a beta of -1.24. The business’s fifty day moving average is $2.55 and its two-hundred day moving average is $12.32.

Cassava Sciences (NASDAQ:SAVA) last issued 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 research analysts predict that Cassava Sciences will post -3.97 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of SAVA. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of 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 valued at $177,000 after buying an additional 14,190 shares during the period. Two Sigma Advisers LP bought a new position in Cassava Sciences in the fourth quarter valued at about $1,432,000. Two Sigma Investments LP increased its position in 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 during the period. Sherbrooke Park Advisers LLC acquired a new stake in Cassava Sciences in the fourth quarter worth about $117,000. Finally, Ensign Peak Advisors Inc raised its holdings in Cassava Sciences by 122.6% during the 4th quarter. Ensign Peak Advisors Inc now owns 36,496 shares of the company’s stock worth $86,000 after purchasing an additional 20,100 shares during the last quarter. Institutional investors and hedge funds 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.