Cassava Sciences (NASDAQ:SAVA) Shares Up 6.2%

Cassava Sciences, Inc. (NASDAQ:SAVA)’s stock price shot up 6.2% during trading on Tuesday . The company traded as high as $21.64 and last traded at $21.26. 719,466 shares changed hands during trading, a decline of 5% from the average session volume of 755,018 shares. The stock had previously closed at $20.01.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reiterated a “buy” rating and set a $124.00 price target on shares of Cassava Sciences in a research report on Tuesday, March 5th.

Cassava Sciences Price Performance

The firm has a 50-day moving average of $21.91 and a 200 day moving average of $19.69.

Cassava Sciences (NASDAQ:SAVA) last posted its quarterly earnings results on Wednesday, February 28th. The company reported ($0.50) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.10). Equities analysts anticipate that Cassava Sciences, Inc. will post -2.01 earnings per share for the current year.

Institutional Investors Weigh In On Cassava Sciences

A number of institutional investors have recently bought and sold shares of the business. Cambridge Investment Research Advisors Inc. boosted its stake in shares of Cassava Sciences by 4.1% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 10,433 shares of the company’s stock valued at $235,000 after purchasing an additional 407 shares in the last quarter. Montag A & Associates Inc. boosted its stake in shares of Cassava Sciences by 50.0% in the 3rd quarter. Montag A & Associates Inc. now owns 1,500 shares of the company’s stock valued at $25,000 after purchasing an additional 500 shares in the last quarter. Teacher Retirement System of Texas boosted its stake in shares of Cassava Sciences by 4.7% in the 3rd quarter. Teacher Retirement System of Texas now owns 11,269 shares of the company’s stock valued at $188,000 after purchasing an additional 509 shares in the last quarter. Raymond James & Associates boosted its stake in shares of Cassava Sciences by 0.8% in the 4th quarter. Raymond James & Associates now owns 74,097 shares of the company’s stock valued at $1,668,000 after purchasing an additional 565 shares in the last quarter. Finally, LPL Financial LLC raised its holdings in Cassava Sciences by 1.4% during the 3rd quarter. LPL Financial LLC now owns 45,197 shares of the company’s stock worth $752,000 after purchasing an additional 623 shares during the last quarter. Institutional investors and hedge funds 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.