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

HC Wainwright reiterated their neutral rating on shares of Cassava Sciences (NASDAQ:SAVA) in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have a $2.00 price target on the stock.

Cassava Sciences Stock Down 32.1 %

NASDAQ:SAVA opened at $1.90 on Tuesday. Cassava Sciences has a 12-month low of $1.80 and a 12-month high of $42.20. The stock’s fifty day simple moving average is $2.55 and its 200-day simple moving average is $12.32. The firm has a market capitalization of $91.79 million, a P/E ratio of -1.38 and a beta of -1.24.

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

Institutional Investors Weigh In On Cassava Sciences

Several large investors have recently bought and sold shares of the company. Sequoia Financial Advisors LLC acquired a new position in shares of Cassava Sciences in the 4th quarter valued at $26,000. CANADA LIFE ASSURANCE Co grew its stake in Cassava Sciences by 198.4% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 11,380 shares of the company’s stock valued at $27,000 after acquiring an additional 7,566 shares during the period. Susquehanna Fundamental Investments LLC acquired a new position in Cassava Sciences in the fourth quarter valued at about $27,000. Johnson Investment Counsel Inc. increased its holdings in shares of Cassava Sciences by 71.4% in the fourth quarter. Johnson Investment Counsel Inc. now owns 12,000 shares of the company’s stock worth $28,000 after acquiring an additional 5,000 shares in the last quarter. Finally, Catalina Capital Group LLC acquired a new stake in shares of Cassava Sciences during the fourth quarter worth about $32,000. Institutional investors 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.