Cassava Sciences, Inc. (NASDAQ:SAVA) Short Interest Update

Cassava Sciences, Inc. (NASDAQ:SAVA) was the recipient of a large decline in short interest in the month of March. As of March 15th, there was short interest totalling 11,880,000 shares, a decline of 17.8% from the February 28th total of 14,450,000 shares. Approximately 27.1% of the company’s shares are sold short. Based on an average daily volume of 2,270,000 shares, the days-to-cover ratio is currently 5.2 days.

Hedge Funds Weigh In On Cassava Sciences

Several hedge funds have recently bought and sold shares of SAVA. Sequoia Financial Advisors LLC bought a new stake in shares of Cassava Sciences during the fourth quarter worth $26,000. CANADA LIFE ASSURANCE Co lifted its holdings in Cassava Sciences by 198.4% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 11,380 shares of the company’s stock valued at $27,000 after buying an additional 7,566 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in Cassava Sciences in the 4th quarter valued at about $27,000. Johnson Investment Counsel Inc. grew its stake in Cassava Sciences by 71.4% in the 4th 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 purchased a new position in shares of Cassava Sciences during the fourth quarter worth approximately $32,000. Institutional investors own 38.05% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, HC Wainwright restated a “neutral” rating and set a $2.00 price target on shares of Cassava Sciences in a report on Tuesday, March 25th.

Cassava Sciences Trading Up 0.7 %

SAVA stock opened at $1.39 on Thursday. Cassava Sciences has a 12 month low of $1.34 and a 12 month high of $42.20. The stock has a market cap of $67.15 million, a PE ratio of -1.01 and a beta of -1.24. The company has a 50-day moving average price of $2.41 and a 200 day moving average price of $11.34.

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. Sell-side analysts forecast that Cassava Sciences will post -3.97 EPS for the current year.

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.