Cassava Sciences (NASDAQ:SAVA) Rating Lowered to “Neutral” at HC Wainwright

Cassava Sciences (NASDAQ:SAVA) was downgraded by analysts at HC Wainwright from a “buy” rating to a “neutral” rating in a report issued on Tuesday, Marketbeat.com reports. They presently have a $116.00 price target on the stock.

Separately, Rodman & Renshaw restated a “buy” rating and set a $107.00 price objective on shares of Cassava Sciences in a report on Thursday, August 8th.

Cassava Sciences Trading Up 3.9 %

Shares of SAVA opened at $3.98 on Tuesday. The business’s 50 day moving average is $26.00 and its 200 day moving average is $23.04. Cassava Sciences has a 12-month low of $3.65 and a 12-month high of $42.20. The company has a market capitalization of $191.48 million, a PE ratio of -2.88 and a beta of -0.59.

Cassava Sciences (NASDAQ:SAVA) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.58) EPS for the quarter, beating analysts’ consensus estimates of ($1.37) by $0.79. During the same period in the prior year, the business earned ($0.61) EPS. Equities research analysts predict that Cassava Sciences will post -3.63 earnings per share for the current year.

Institutional Trading of Cassava Sciences

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Tidal Investments LLC acquired a new stake in shares of Cassava Sciences during the third quarter worth $11,036,000. Geode Capital Management LLC increased its holdings in shares of Cassava Sciences by 4.3% in the third quarter. Geode Capital Management LLC now owns 1,008,593 shares of the company’s stock valued at $29,688,000 after purchasing an additional 41,289 shares during the period. International Assets Investment Management LLC acquired a new stake in shares of Cassava Sciences during the third quarter worth about $10,610,000. Vanguard Group Inc. boosted its position in Cassava Sciences by 1.4% in the first quarter. Vanguard Group Inc. now owns 2,356,480 shares of the company’s stock valued at $47,813,000 after buying an additional 31,854 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Cassava Sciences by 18.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 140,847 shares of the company’s stock worth $1,739,000 after buying an additional 21,558 shares during the period. Hedge funds and other institutional investors own 38.05% of the company’s stock.

Cassava Sciences Company Profile

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.