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

HC Wainwright reissued their neutral rating on shares of Cassava Sciences (NASDAQ:SAVA) in a research report report published on Tuesday morning,Benzinga reports. They currently have a $2.00 price objective on the stock.

Cassava Sciences Trading Down 2.9 %

SAVA stock opened at $1.70 on Tuesday. The firm has a 50 day moving average of $2.51 and a 200-day moving average of $12.18. The firm has a market capitalization of $82.12 million, a P/E ratio of -1.23 and a beta of -1.24. Cassava Sciences has a 12 month low of $1.63 and a 12 month high of $42.20.

Cassava Sciences (NASDAQ:SAVA) last announced its quarterly earnings results on Monday, March 3rd. The company reported ($0.57) EPS for the quarter, beating the consensus estimate of ($0.68) by $0.11. Sell-side analysts predict that Cassava Sciences will post -3.97 EPS for the current year.

Hedge Funds Weigh In On Cassava Sciences

A number of institutional investors have recently added to or reduced their stakes in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Cassava Sciences by 23.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 75,084 shares of the company’s stock valued at $177,000 after acquiring an additional 14,190 shares during the last quarter. Two Sigma Advisers LP purchased a new stake in Cassava Sciences in the fourth quarter valued at approximately $1,432,000. Two Sigma Investments LP lifted its position in Cassava Sciences by 679.1% during the fourth quarter. Two Sigma Investments LP now owns 562,082 shares of the company’s stock valued at $1,327,000 after purchasing an additional 489,936 shares during the last quarter. Sherbrooke Park Advisers LLC bought a new stake in Cassava Sciences during the fourth quarter valued at approximately $117,000. Finally, Ensign Peak Advisors Inc grew its stake in Cassava Sciences by 122.6% in the 4th quarter. Ensign Peak Advisors Inc now owns 36,496 shares of the company’s stock worth $86,000 after buying an additional 20,100 shares in the last quarter. 38.05% of the stock is currently owned by institutional investors.

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.