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

Cassava Sciences (NASDAQ:SAVA)‘s stock had its “neutral” rating restated by HC Wainwright in a report released on Tuesday, Benzinga reports.

Separately, Rodman & Renshaw restated a “buy” rating and set a $107.00 price target on shares of Cassava Sciences in a report on Thursday, August 8th.

Cassava Sciences Price Performance

NASDAQ SAVA opened at $23.70 on Tuesday. The company’s 50 day simple moving average is $17.57 and its 200 day simple moving average is $20.46. Cassava Sciences has a 12 month low of $8.79 and a 12 month high of $42.20. The company has a market capitalization of $1.14 billion, a P/E ratio of -10.92 and a beta of -0.57.

Cassava Sciences (NASDAQ:SAVA) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.57. During the same quarter last year, the business posted ($0.63) EPS. On average, analysts anticipate that Cassava Sciences will post -1.86 earnings per share for the current year.

Institutional Investors Weigh In On Cassava Sciences

A number of large investors have recently made changes to their positions in the company. Arizona State Retirement System increased its stake in Cassava Sciences by 4.2% in the 2nd quarter. Arizona State Retirement System now owns 11,495 shares of the company’s stock valued at $142,000 after buying an additional 468 shares during the period. Janney Montgomery Scott LLC increased its stake in Cassava Sciences by 3.6% in the 1st quarter. Janney Montgomery Scott LLC now owns 14,690 shares of the company’s stock valued at $298,000 after buying an additional 506 shares during the period. Raymond James & Associates increased its stake in Cassava Sciences by 0.8% in the 4th quarter. Raymond James & Associates now owns 74,097 shares of the company’s stock valued at $1,668,000 after buying an additional 565 shares during the period. Profund Advisors LLC increased its stake in Cassava Sciences by 4.6% in the 2nd quarter. Profund Advisors LLC now owns 13,440 shares of the company’s stock valued at $166,000 after buying an additional 591 shares during the period. Finally, NBC Securities Inc. increased its stake in Cassava Sciences by 9.3% in the 1st quarter. NBC Securities Inc. now owns 7,650 shares of the company’s stock valued at $155,000 after buying an additional 650 shares during the period. Institutional investors and hedge funds 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.