Cassava Sciences (NASDAQ:SAVA) downgraded to Neutral at HC Wainwright

Cassava Sciences (NASDAQ:SAVA – Download Free Report) was downgraded by HC Wainwright analysts from “buy” to “neutral” in a research note issued to investors on Monday, Marketbeat.com reports.

Cassava Sciences Price Performance

Shares of SAVA opened on Monday at $12.35. Cassava Sciences has a 1-year low of $8.79 and a 1-year high of $32.10. The company’s 50-day simple moving average is $20.83 and its 200-day simple moving average is $22.08. The company has a market capitalization of $592.50 million, a P/E ratio of -5.69 and a beta of -0.50.

Cassava Sciences (NASDAQ:SAVA – Get Free Report) last released its quarterly earnings data on Friday, May 10th. The company reported ($1.41) earnings per share (EPS) for the quarter, which was $0.90 below analyst consensus estimates of ($0.51). Analysts expect Cassava Sciences to post -1.86 earnings per share for the current fiscal year.

Institutional investors rate Cassava Sciences

Several hedge funds and other institutional investors have recently modified their holdings in SAVA. Cable Car Capital LLC bought a new stake in Cassava Sciences during the 4th quarter worth approximately $1,204,000. In the first quarter, Vanguard Group Inc. increased its shares in Cassava Sciences by 1.4%. 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 in the last quarter. Clear Creek Financial Management LLC increased its position in shares of Cassava Sciences by 29.0% during the 4th quarter. Clear Creek Financial Management LLC now owns 134,605 ​​shares of the company’s stock valued at $3,030,000 after acquiring an additional 30,265 shares during the period. Virtu Financial LLC increased its holdings in Cassava Sciences by 120.3% in the 4th quarter. Virtu Financial LLC now owns 49,128 shares of the company’s stock valued at $1,106,000 after purchasing an additional 26,824 shares during the period. Finally, Essex LLC increased its holdings in Cassava Sciences by 186.1% during the fourth quarter. Essex LLC now owns 34,774 shares of the company’s stock valued at $783,000 after purchasing an additional 22,620 shares in the last quarter. Institutional investors hold 38.05% of the company’s shares.

About Cassava Sciences

(Get the free report)

Cassava Sciences, Inc., a clinical-stage biotechnology company, is developing therapeutics for neurodegenerative diseases. Its lead therapeutic product candidate is simufilam, a small molecule drug that has completed Phase 2 clinical trials; and its investigational diagnostic product candidate is SavaDx, a blood-based biomarker/diagnostic for Alzheimer’s disease.

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