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.
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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