Cassava Sciences Sees Unusually Large Options Volume (NASDAQ:SAVA)

Cassava Sciences, Inc. (NASDAQ:SAVAGet Free Report) saw unusually large options trading on Tuesday. Traders acquired 9,018 call options on the stock. This represents an increase of approximately 78% compared to the average volume of 5,071 call options.

Hedge Funds Weigh In On Cassava Sciences

Institutional investors have recently bought and sold shares of the business. Northwest Financial Advisors acquired a new stake in shares of Cassava Sciences in the fourth quarter worth $25,000. Benjamin F. Edwards & Company Inc. boosted its holdings in Cassava Sciences by 653.6% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 1,153 shares of the company’s stock valued at $26,000 after purchasing an additional 1,000 shares during the last quarter. EntryPoint Capital LLC boosted its holdings in Cassava Sciences by 1,251.2% in the first quarter. EntryPoint Capital LLC now owns 2,297 shares of the company’s stock valued at $47,000 after purchasing an additional 2,127 shares during the last quarter. Byrne Asset Management LLC grew its position in Cassava Sciences by 32.9% during the 4th quarter. Byrne Asset Management LLC now owns 3,350 shares of the company’s stock worth $75,000 after purchasing an additional 830 shares during the period. Finally, Quest Partners LLC purchased a new position in shares of Cassava Sciences during the 4th quarter valued at about $118,000. 38.05% of the stock is owned by hedge funds and other institutional investors.

Cassava Sciences Stock Down 3.4 %

Shares of NASDAQ:SAVA opened at $11.16 on Thursday. The stock has a market capitalization of $535.41 million, a PE ratio of -5.14 and a beta of -0.57. The firm’s 50 day moving average price is $19.36 and its 200-day moving average price is $21.55. Cassava Sciences has a twelve month low of $8.79 and a twelve month high of $32.10.

Cassava Sciences (NASDAQ:SAVAGet Free Report) last announced its quarterly earnings results on Friday, May 10th. The company reported ($1.41) EPS for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.90). Analysts expect that Cassava Sciences will post -1.86 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, HC Wainwright lowered Cassava Sciences from a “buy” rating to a “neutral” rating in a report on Monday, July 1st.

Check Out Our Latest Stock Report on SAVA

About Cassava Sciences

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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.

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