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

Cassava Sciences (NASDAQ:SAVA)‘s stock had its “neutral” rating reissued by analysts at HC Wainwright in a research note issued to investors on Tuesday,Benzinga reports.

Cassava Sciences Stock Up 2.2 %

Shares of SAVA stock traded up $0.06 during mid-day trading on Tuesday, hitting $2.54. 624,370 shares of the stock were exchanged, compared to its average volume of 2,831,539. Cassava Sciences has a 52-week low of $2.23 and a 52-week high of $42.20. The firm has a fifty day moving average of $2.53 and a 200 day moving average of $15.30. The company has a market cap of $121.96 million, a PE ratio of -1.84 and a beta of -0.95.

Cassava Sciences (NASDAQ:SAVA) last announced its earnings results on Monday, March 3rd. The company reported ($0.57) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.68) by $0.11. Equities analysts predict that Cassava Sciences will post -3.97 EPS for the current year.

Institutional Trading of Cassava Sciences

A number of institutional investors have recently made changes to their positions in the company. Two Sigma Advisers LP purchased a new position in shares of Cassava Sciences during the 4th quarter worth $1,432,000. Two Sigma Investments LP lifted its holdings in shares of Cassava Sciences by 679.1% in the 4th quarter. Two Sigma Investments LP now owns 562,082 shares of the company’s stock valued at $1,327,000 after purchasing an additional 489,936 shares during the last quarter. Tidal Investments LLC purchased a new position in shares of Cassava Sciences during the third quarter worth approximately $11,036,000. MYDA Advisors LLC purchased a new stake in Cassava Sciences in the 4th quarter valued at $400,000. Finally, XTX Topco Ltd purchased a new position in Cassava Sciences during the 4th quarter worth $220,000. 38.05% of the stock is owned by institutional investors and hedge funds.

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.