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

Cassava Sciences (NASDAQ:SAVA)‘s stock had its “neutral” rating reaffirmed by analysts at HC Wainwright in a research note issued on Tuesday,Benzinga reports. They presently have a $2.00 price objective on the stock. HC Wainwright’s target price would indicate a potential upside of 14.29% from the stock’s previous close.

Cassava Sciences Price Performance

Shares of NASDAQ:SAVA opened at $1.75 on Tuesday. The firm has a market capitalization of $84.54 million, a price-to-earnings ratio of -1.27 and a beta of -1.24. The business’s 50 day simple moving average is $2.53 and its 200-day simple moving average is $12.25. Cassava Sciences has a 12 month low of $1.74 and a 12 month high of $42.20.

Cassava Sciences (NASDAQ:SAVA) last posted its earnings results on Monday, March 3rd. The company reported ($0.57) EPS for the quarter, topping analysts’ consensus estimates of ($0.68) by $0.11. On average, equities analysts anticipate that Cassava Sciences will post -3.97 earnings per share for the current year.

Hedge Funds Weigh In On Cassava Sciences

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Quest Partners LLC grew its position in shares of Cassava Sciences by 117.8% in the third quarter. Quest Partners LLC now owns 1,997 shares of the company’s stock valued at $59,000 after purchasing an additional 1,080 shares during the last quarter. Johnson Investment Counsel Inc. grew its holdings in Cassava Sciences by 71.4% during the 4th quarter. Johnson Investment Counsel Inc. now owns 12,000 shares of the company’s stock valued at $28,000 after buying an additional 5,000 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in Cassava Sciences by 150.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 8,748 shares of the company’s stock valued at $257,000 after buying an additional 5,250 shares during the last quarter. Independent Advisor Alliance purchased a new position in Cassava Sciences during the third quarter worth $208,000. Finally, CANADA LIFE ASSURANCE Co raised its stake in Cassava Sciences by 198.4% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 11,380 shares of the company’s stock valued at $27,000 after purchasing an additional 7,566 shares during the last quarter. 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.