Cassava Sciences (NASDAQ:SAVA) Sees Large Volume Increase

Cassava Sciences, Inc. (NASDAQ:SAVA) saw unusually-strong trading volume on Tuesday . Approximately 382,939 shares traded hands during trading, a decline of 60% from the previous session’s volume of 965,461 shares.The stock last traded at $11.58 and had previously closed at $12.14.

Analyst Upgrades and Downgrades

Separately, HC Wainwright cut shares of Cassava Sciences from a “buy” rating to a “neutral” rating in a report on Monday.

Cassava Sciences Stock Performance

The firm’s fifty day moving average price is $20.66 and its 200 day moving average price is $22.01.

Cassava Sciences (NASDAQ:SAVA) last posted its quarterly earnings results on Friday, May 10th. The company reported ($1.41) EPS for the quarter, missing the consensus estimate of ($0.51) by ($0.90). As a group, sell-side analysts predict that Cassava Sciences, Inc. will post -1.86 earnings per share for the current year.

Institutional Investors Weigh In On Cassava Sciences

Large investors have recently bought and sold shares of the business. Northwest Financial Advisors bought a new stake in Cassava Sciences in the fourth quarter worth $25,000. Benjamin F. Edwards & Company Inc. boosted 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 in the last quarter. EntryPoint Capital LLC boosted its holdings in Cassava Sciences by 1,251.2% in the first quarter. EntryPoint Capital LLC now owns 2,297 shares of the company’s stock worth $47,000 after purchasing an additional 2,127 shares in the last quarter. Byrne Asset Management LLC boosted its holdings in Cassava Sciences by 32.9% in the fourth quarter. Byrne Asset Management LLC now owns 3,350 shares of the company’s stock worth $75,000 after purchasing an additional 830 shares in the last quarter. Finally, Quest Partners LLC bought a new stake in Cassava Sciences in the fourth quarter worth $118,000. 38.05% of the stock is currently owned by institutional investors.

About Cassava Sciences

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.