Cassava Sciences (NASDAQ:SAVA) Shares Down 6.7%

Share on StockTwits

Cassava Sciences Inc (NASDAQ:SAVA) shares were down 6.7% during trading on Monday . The stock traded as low as $1.61 and last traded at $1.67, approximately 2,470,810 shares changed hands during trading. An increase of 547% from the average daily volume of 381,815 shares. The stock had previously closed at $1.79.

A number of research analysts have recently weighed in on the company. Maxim Group restated a “buy” rating and set a $3.00 price objective on shares of Cassava Sciences in a research report on Wednesday, September 18th. Zacks Investment Research raised Cassava Sciences from a “hold” rating to a “strong-buy” rating and set a $1.50 target price on the stock in a report on Thursday, November 14th. HC Wainwright reiterated a “buy” rating and issued a $6.00 target price (up from $3.00) on shares of Cassava Sciences in a research report on Friday. Finally, ValuEngine raised Cassava Sciences from a “strong sell” rating to a “sell” rating in a research note on Tuesday, November 12th.

The firm has a market capitalization of $28.76 million, a PE ratio of -2.74 and a beta of 1.85. The company has a fifty day moving average price of $1.38 and a 200-day moving average price of $1.31.

Cassava Sciences (NASDAQ:SAVA) last posted its earnings results on Tuesday, October 29th. The company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.10. Equities research analysts anticipate that Cassava Sciences Inc will post -0.32 EPS for the current year.

An institutional investor recently raised its position in Cassava Sciences stock. Envestnet Asset Management Inc. grew its holdings in Cassava Sciences Inc (NASDAQ:SAVA) by 23.8% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 62,892 shares of the company’s stock after buying an additional 12,104 shares during the period. Envestnet Asset Management Inc. owned approximately 0.37% of Cassava Sciences worth $76,000 as of its most recent filing with the Securities & Exchange Commission. 10.60% of the stock is owned by institutional investors and hedge funds.

About Cassava Sciences (NASDAQ:SAVA)

Cassava Sciences, Inc, a clinical-stage drug development company, develops drugs for nervous system disorders. The company's lead therapeutic product candidate PTI-125, a small molecule drug that is in Phase II clinical trial for the treatment of Alzheimer's disease. It is also developing PTI-125Dx, a blood-based biomarker/diagnostic to detect Alzheimer's disease.

Featured Story: Why is the price-sales ratio important?

Receive News & Ratings for Cassava Sciences Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cassava Sciences and related companies with MarketBeat.com's FREE daily email newsletter.

 


Latest News

Yu Darvish Receives Cortisone Shot for Elbow Impingement
Yu Darvish Receives Cortisone Shot for Elbow Impingement
Red Sox and Brandon Phillips Agree to Minor League Deal
Red Sox and Brandon Phillips Agree to Minor League Deal
Chris Sale Proves He is 2018 AL Cy Young Candidate
Chris Sale Proves He is 2018 AL Cy Young Candidate
Strong Results by Clint Frazier Could Keep Him with Yankees
Strong Results by Clint Frazier Could Keep Him with Yankees
Giants Closer Breaks Hand Punching Door Following Poor Outing
Giants Closer Breaks Hand Punching Door Following Poor Outing
Evan Longoria Out Six to Eight Weeks With Broken Hand
Evan Longoria Out Six to Eight Weeks With Broken Hand


 
© 2006-2020 BBNS.