Other analysts also recently issued reports about the company. Zacks Investment Research downgraded Cassava Sciences from a buy rating to a hold rating in a research note on Saturday, January 25th. HC Wainwright restated a buy rating and set a $6.00 target price (up from $3.00) on shares of Cassava Sciences in a research note on Friday, December 6th. Finally, Maxim Group assumed coverage on Cassava Sciences in a research note on Thursday, March 26th. They set a buy rating and a $12.00 target price for the company.
NASDAQ SAVA traded up $0.02 during trading hours on Thursday, hitting $4.82. The company had a trading volume of 467,356 shares, compared to its average volume of 2,835,478. Cassava Sciences has a fifty-two week low of $1.00 and a fifty-two week high of $10.95. The company has a market capitalization of $123.65 million, a price-to-earnings ratio of -18.54 and a beta of 2.74. The firm’s 50 day moving average is $5.49 and its 200 day moving average is $3.98.
Hedge funds have recently modified their holdings of the company. Acadian Asset Management LLC bought a new position in shares of Cassava Sciences during the fourth quarter worth about $79,000. Jane Street Group LLC lifted its position in shares of Cassava Sciences by 23.4% during the fourth quarter. Jane Street Group LLC now owns 17,269 shares of the company’s stock worth $90,000 after purchasing an additional 3,279 shares during the last quarter. Cetera Advisor Networks LLC bought a new position in shares of Cassava Sciences during the fourth quarter worth about $109,000. Marshall Wace LLP bought a new position in shares of Cassava Sciences during the fourth quarter worth about $284,000. Finally, Jefferies Group LLC bought a new position in shares of Cassava Sciences during the fourth quarter worth about $364,000. 26.71% of the stock is currently owned by institutional investors and hedge funds.
Cassava Sciences Company Profile
Cassava Sciences, Inc, a clinical-stage drug development company, develops drugs for nervous system disorders. The company's lead therapeutic product candidate PTI-125, a small molecule drug that is in Phase II clinical trial for the treatment of Alzheimer's disease. It is also developing PTI-125Dx, a blood-based biomarker/diagnostic to detect Alzheimer's disease.
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