Cassava Sciences (NASDAQ:SAVA) Lowered to Neutral Rating by HC Wainwright

Cassava Sciences (NASDAQ:SAVA) was downgraded by equities research analysts at HC Wainwright from a “buy” rating to a “neutral” rating in a research report issued on Tuesday, Marketbeat Ratings reports. They currently have a $116.00 price objective on the stock.

Separately, Rodman & Renshaw reiterated a “buy” rating and issued a $107.00 price objective on shares of Cassava Sciences in a report on Thursday, August 8th.

Cassava Sciences Stock Performance

Shares of NASDAQ SAVA opened at $3.98 on Tuesday. The firm has a market cap of $191.48 million, a PE ratio of -2.88 and a beta of -0.59. Cassava Sciences has a one year low of $3.65 and a one year high of $42.20. The firm has a fifty day moving average of $26.00 and a 200 day moving average of $23.04.

Cassava Sciences (NASDAQ:SAVA) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.58) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.37) by $0.79. During the same period in the previous year, the business posted ($0.61) earnings per share. On average, equities analysts predict that Cassava Sciences will post -3.63 EPS for the current fiscal year.

Hedge Funds Weigh In On Cassava Sciences

Several institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of Cassava Sciences by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 2,356,480 shares of the company’s stock valued at $47,813,000 after buying an additional 31,854 shares in the last quarter. Geode Capital Management LLC boosted its stake in Cassava Sciences by 4.3% in the third quarter. Geode Capital Management LLC now owns 1,008,593 shares of the company’s stock valued at $29,688,000 after acquiring an additional 41,289 shares in the last quarter. Tidal Investments LLC purchased a new position in shares of Cassava Sciences during the third quarter worth about $11,036,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Cassava Sciences by 3.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 361,797 shares of the company’s stock worth $10,648,000 after purchasing an additional 10,429 shares during the last quarter. Finally, Clear Creek Financial Management LLC increased its position in shares of Cassava Sciences by 5.5% during the third quarter. Clear Creek Financial Management LLC now owns 153,533 shares of the company’s stock worth $4,518,000 after purchasing an additional 7,983 shares in the last quarter. Institutional investors and hedge funds own 38.05% of the company’s stock.

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.