Cassava Sciences (NASDAQ:SAVA) Trading Down 6.3%

Cassava Sciences, Inc. (NASDAQ:SAVA)’s stock price traded down 6.3% on Tuesday . The company traded as low as $20.13 and last traded at $20.16. 341,502 shares were traded during trading, a decline of 56% from the average session volume of 776,676 shares. The stock had previously closed at $21.52.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $124.00 price objective on shares of Cassava Sciences in a report on Tuesday, March 5th.

Cassava Sciences Stock Performance

The stock’s fifty day moving average is $21.36 and its two-hundred day moving average is $20.61. The firm has a market cap of $944.15 million, a price-to-earnings ratio of -8.69 and a beta of -0.38.

Cassava Sciences (NASDAQ:SAVA) last released its quarterly earnings data 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). Sell-side analysts predict that Cassava Sciences, Inc. will post -2.01 earnings per share for the current year.

Institutional Trading of Cassava Sciences

Large investors have recently modified their holdings of the company. Montag A & Associates Inc. grew its position in 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 buying an additional 500 shares in the last quarter. Northwest Financial Advisors bought a new position in Cassava Sciences in the 4th quarter valued at about $25,000. Benjamin F. Edwards & Company Inc. grew its position in Cassava Sciences by 653.6% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 1,153 shares of the company’s stock valued at $26,000 after buying an additional 1,000 shares in the last quarter. Headlands Technologies LLC grew its position in Cassava Sciences by 24,044.4% in the 3rd quarter. Headlands Technologies LLC now owns 2,173 shares of the company’s stock valued at $36,000 after buying an additional 2,164 shares in the last quarter. Finally, NBC Securities Inc. bought a new position in Cassava Sciences in the 3rd quarter valued at about $66,000. Institutional investors and hedge funds own 38.05% of the company’s stock.

About Cassava Sciences

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.