Cassava Sciences (NASDAQ:SAVA) Sees Strong Trading Volume

Cassava Sciences, Inc. (NASDAQ:SAVA) shares saw unusually-high trading volume on Monday . Approximately 879,612 shares changed hands during mid-day trading, an increase of 19% from the previous session’s volume of 737,855 shares.The stock last traded at $20.62 and had previously closed at $22.75.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reissued a “buy” rating and set a $124.00 price target on shares of Cassava Sciences in a report on Tuesday, March 5th.

Cassava Sciences Trading Up 5.1 %

The company has a 50-day moving average of $21.99 and a 200-day moving average of $19.67.

Cassava Sciences (NASDAQ:SAVA) last issued its quarterly earnings results on Wednesday, February 28th. The company reported ($0.50) earnings per share for the quarter, missing the consensus estimate of ($0.40) by ($0.10). On average, equities research analysts anticipate that Cassava Sciences, Inc. will post -2.01 earnings per share for the current year.

Institutional Investors Weigh In On Cassava Sciences

Institutional investors have recently modified their holdings of the company. Captrust Financial Advisors grew its stake in Cassava Sciences by 484.7% during the first quarter. Captrust Financial Advisors now owns 877 shares of the company’s stock worth $33,000 after purchasing an additional 727 shares during the period. Northwest Financial Advisors acquired a new position in shares of Cassava Sciences during the 4th quarter valued at $25,000. Benjamin F. Edwards & Company Inc. grew its holdings in Cassava Sciences by 653.6% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 1,153 shares of the company’s stock worth $26,000 after purchasing an additional 1,000 shares during the period. Dark Forest Capital Management LP acquired a new stake in shares of Cassava Sciences in the 1st quarter valued at about $33,000. Finally, Montag A & Associates Inc. boosted its holdings in Cassava Sciences by 50.0% in the third quarter. Montag A & Associates Inc. now owns 1,500 shares of the company’s stock worth $25,000 after acquiring an additional 500 shares in the last quarter. 38.05% of the stock is owned by institutional investors.

Cassava Sciences Company Profile

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.