Cassava Sciences (NASDAQ:SAVA) Shares Up 7.2%

Cassava Sciences, Inc. (NASDAQ:SAVA)’s share price shot up 7.2% during trading on Monday . The stock traded as high as $66.93 and last traded at $66.38. 44,157 shares were traded during mid-day trading, a decline of 99% from the average session volume of 5,813,136 shares. The stock had previously closed at $61.94.

Several research analysts have recently weighed in on the company. Jonestrading reaffirmed a “buy” rating and set a $215.00 target price on shares of Cassava Sciences in a research note on Friday, September 3rd. Cantor Fitzgerald downgraded Cassava Sciences from an “overweight” rating to a “neutral” rating and set a $100.00 price objective for the company. in a research note on Thursday, July 15th. Zacks Investment Research raised Cassava Sciences from a “sell” rating to a “hold” rating in a research note on Wednesday, August 11th. HC Wainwright increased their price objective on Cassava Sciences from $97.00 to $124.00 and gave the company a “buy” rating in a research note on Tuesday, July 20th. Finally, B. Riley increased their price objective on Cassava Sciences from $111.00 to $145.00 and gave the company a “buy” rating in a research note on Tuesday, August 3rd. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $126.60.

The company has a fifty day simple moving average of $82.03 and a 200-day simple moving average of $66.62. The company has a market capitalization of $2.72 billion, a PE ratio of -179.40 and a beta of 0.97.

Cassava Sciences (NASDAQ:SAVA) last issued its earnings results on Tuesday, August 3rd. The company reported ($0.13) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.13). As a group, sell-side analysts predict that Cassava Sciences, Inc. will post -0.64 EPS for the current fiscal year.

Large investors have recently modified their holdings of the business. Invesco Ltd. grew its holdings in shares of Cassava Sciences by 793.1% during the 2nd quarter. Invesco Ltd. now owns 173,064 shares of the company’s stock worth $14,787,000 after purchasing an additional 153,686 shares during the period. Maverick Capital Ltd. purchased a new position in shares of Cassava Sciences during the 2nd quarter worth $140,000. Metropolitan Life Insurance Co NY grew its holdings in shares of Cassava Sciences by 116,966.7% during the 2nd quarter. Metropolitan Life Insurance Co NY now owns 10,536 shares of the company’s stock worth $900,000 after purchasing an additional 10,527 shares during the period. Man Group plc purchased a new position in shares of Cassava Sciences during the 2nd quarter worth $447,000. Finally, MetLife Investment Management LLC grew its holdings in shares of Cassava Sciences by 8.6% during the 2nd quarter. MetLife Investment Management LLC now owns 13,762 shares of the company’s stock worth $1,176,000 after purchasing an additional 1,087 shares during the period. Institutional investors own 27.17% of the company’s stock.

Cassava Sciences Company Profile (NASDAQ:SAVA)

Cassava Sciences, Inc engages in the development of novel drugs and diagnostics. It focuses on developing product candidates intended for the treatment of Alzheimer’s disease, including PTI-125 and PTI-125Dx. The company was founded by Remi Barbier and Barry M. Sherman in May 1998 and is headquartered in Austin, TX.

Featured Story: How do investors use RSI to grade stocks?

Receive News & Ratings for Cassava Sciences Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cassava Sciences and related companies with MarketBeat.com's FREE daily email newsletter.