Cassava Sciences (NASDAQ:SAVA) Stock Price Up 7.9%

Cassava Sciences, Inc. (NASDAQ:SAVA)’s share price was up 7.9% during trading on Friday . The company traded as high as $13.89 and last traded at $13.76. Approximately 1,647,399 shares were traded during trading, an increase of 25% from the average daily volume of 1,321,553 shares. The stock had previously closed at $12.75.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reissued a “neutral” rating on shares of Cassava Sciences in a research note on Friday, July 19th.

Cassava Sciences Stock Up 17.1 %

The business has a 50 day moving average of $16.92 and a 200 day moving average of $20.61. The company has a market capitalization of $716.34 million, a P/E ratio of -6.27 and a beta of -0.57.

Cassava Sciences (NASDAQ:SAVA) 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). On average, research analysts anticipate that Cassava Sciences, Inc. will post -1.86 EPS for the current year.

Institutional Investors Weigh In On Cassava Sciences

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Northwest Financial Advisors purchased a new stake in Cassava Sciences during the fourth quarter valued at approximately $25,000. Benjamin F. Edwards & Company Inc. raised its holdings in shares of Cassava Sciences by 653.6% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 1,153 shares of the company’s stock worth $26,000 after buying an additional 1,000 shares during the period. EntryPoint Capital LLC increased its holdings in Cassava Sciences by 1,251.2% during the 1st quarter. EntryPoint Capital LLC now owns 2,297 shares of the company’s stock worth $47,000 after purchasing an additional 2,127 shares during the period. Byrne Asset Management LLC increased its holdings 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 bought a new stake in Cassava Sciences during the 4th quarter valued at $118,000. 38.05% of the stock is currently owned by hedge funds and other institutional investors.

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.