Cassava Sciences (NASDAQ:SAVA) Stock Price Up 3.7%

Cassava Sciences, Inc. (NASDAQ:SAVA)’s stock price was up 3.7% during trading on Thursday . The company traded as high as $123.94 and last traded at $121.94. Approximately 55,041 shares changed hands during mid-day trading, a decline of 98% from the average daily volume of 2,717,864 shares. The stock had previously closed at $117.60.

A number of research analysts have weighed in on the stock. B. Riley boosted their target price on shares of Cassava Sciences from $78.00 to $111.00 and gave the stock a “buy” rating in a research report on Wednesday, June 23rd. HC Wainwright raised their price target on shares of Cassava Sciences from $97.00 to $124.00 and gave the stock a “buy” rating in a research report on Tuesday. Zacks Investment Research downgraded Cassava Sciences from a “hold” rating to a “sell” rating in a research report on Wednesday, June 23rd. Finally, 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 report on Thursday, July 15th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company’s stock. Cassava Sciences presently has a consensus rating of “Buy” and a consensus target price of $79.60.

The stock has a market capitalization of $5.05 billion, a PE ratio of -436.54 and a beta of 1.09. The business’s fifty day moving average price is $73.51.

Cassava Sciences (NASDAQ:SAVA) last released its quarterly earnings results on Tuesday, April 20th. The company reported ($0.09) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.10) by $0.01. On average, research analysts predict that Cassava Sciences, Inc. will post 0.24 EPS for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the stock. US Bancorp DE acquired a new stake in Cassava Sciences in the 1st quarter valued at about $27,000. O Shaughnessy Asset Management LLC increased its holdings in shares of Cassava Sciences by 896.7% in the first quarter. O Shaughnessy Asset Management LLC now owns 608 shares of the company’s stock valued at $27,000 after purchasing an additional 547 shares in the last quarter. Strs Ohio bought a new position in Cassava Sciences in the 1st quarter worth approximately $58,000. The PNC Financial Services Group Inc. acquired a new position in Cassava Sciences during the 1st quarter worth $91,000. Finally, Principal Financial Group Inc. bought a new position in Cassava Sciences in the 1st quarter valued at $207,000. Institutional investors and hedge funds own 26.57% of the company’s stock.

Cassava Sciences Company Profile (NASDAQ:SAVA)

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 2b clinical trial; and investigational diagnostic product candidate is SavaDx, a blood-based biomarker/diagnostic to detect Alzheimer's disease.

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