A number of other brokerages have also commented on SAVA. Zacks Investment Research lowered Cassava Sciences from a “buy” rating to a “hold” rating in a research note on Saturday, January 25th. HC Wainwright reissued a “buy” rating and set a $6.00 price target (up from $3.00) on shares of Cassava Sciences in a research note on Friday, December 6th. Finally, Maxim Group initiated coverage on Cassava Sciences in a research note on Thursday, March 26th. They set a “buy” rating and a $12.00 price target on the stock.
NASDAQ SAVA traded up $0.02 on Thursday, hitting $4.82. 467,356 shares of the company were exchanged, compared to its average volume of 2,835,478. The firm has a 50 day moving average of $5.49 and a two-hundred day moving average of $3.98. The company has a market cap of $123.65 million, a P/E ratio of -18.54 and a beta of 2.74. Cassava Sciences has a 1-year low of $1.00 and a 1-year high of $10.95.
Several institutional investors have recently bought and sold shares of the stock. Jane Street Group LLC lifted its stake in shares of Cassava Sciences by 23.4% in the fourth quarter. Jane Street Group LLC now owns 17,269 shares of the company’s stock worth $90,000 after acquiring an additional 3,279 shares during the period. Acadian Asset Management LLC purchased a new position in Cassava Sciences in the fourth quarter worth $79,000. Cetera Advisor Networks LLC purchased a new position in Cassava Sciences in the fourth quarter worth $109,000. Marshall Wace LLP purchased a new position in Cassava Sciences in the fourth quarter worth $284,000. Finally, Geode Capital Management LLC boosted its position in Cassava Sciences by 93.0% in the fourth quarter. Geode Capital Management LLC now owns 144,251 shares of the company’s stock worth $750,000 after purchasing an additional 69,519 shares during the last quarter. 26.71% of the stock is currently owned by institutional investors.
About Cassava Sciences
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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