HC Wainwright Reaffirms Neutral Rating for Cassava Sciences (NASDAQ:SAVA)

HC Wainwright restated their neutral rating on shares of Cassava Sciences (NASDAQ:SAVA) in a research report released on Friday morning, Benzinga reports.

Cassava Sciences Price Performance

Shares of SAVA opened at $10.08 on Friday. Cassava Sciences has a one year low of $8.79 and a one year high of $32.10. The business’s 50 day simple moving average is $17.70 and its 200-day simple moving average is $20.88.

Cassava Sciences (NASDAQ:SAVA) last posted its quarterly earnings data on Friday, May 10th. The company reported ($1.41) EPS for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.90). On average, sell-side analysts predict that Cassava Sciences will post -1.86 EPS for the current fiscal year.

Institutional Investors Weigh In On Cassava Sciences

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SAVA. Vanguard Group Inc. grew its stake in shares of Cassava Sciences by 1.4% during the first quarter. Vanguard Group Inc. now owns 2,356,480 shares of the company’s stock valued at $47,813,000 after purchasing an additional 31,854 shares during the last quarter. Gallacher Capital Management LLC boosted its position in Cassava Sciences by 0.6% in the 1st quarter. Gallacher Capital Management LLC now owns 585,381 shares of the company’s stock valued at $11,877,000 after buying an additional 3,775 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Cassava Sciences by 1.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 308,836 shares of the company’s stock valued at $6,952,000 after buying an additional 4,115 shares during the period. Clear Creek Financial Management LLC raised its position in shares of Cassava Sciences by 2.9% during the first quarter. Clear Creek Financial Management LLC now owns 138,525 shares of the company’s stock worth $2,811,000 after acquiring an additional 3,920 shares during the last quarter. Finally, Raymond James & Associates lifted its stake in shares of Cassava Sciences by 0.8% during the fourth quarter. Raymond James & Associates now owns 74,097 shares of the company’s stock valued at $1,668,000 after acquiring an additional 565 shares during the period. 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.