Cassava Sciences (NASDAQ:SAVA) Earns “Neutral” Rating from HC Wainwright

HC Wainwright reiterated their neutral rating on shares of Cassava Sciences (NASDAQ:SAVA) in a research note issued to investors on Friday, Benzinga reports.

Cassava Sciences Trading Down 1.0 %

Shares of Cassava Sciences stock opened at $10.08 on Friday. Cassava Sciences has a twelve month low of $8.79 and a twelve month high of $32.10. The company has a 50-day simple moving average of $17.70 and a two-hundred day simple moving average of $20.88.

Cassava Sciences (NASDAQ:SAVA) last released its quarterly earnings results on Friday, May 10th. The company reported ($1.41) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.90). Analysts predict that Cassava Sciences will post -1.86 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in Cassava Sciences by 0.8% during the third quarter. Vanguard Group Inc. now owns 2,268,566 shares of the company’s stock worth $37,749,000 after buying an additional 18,907 shares in the last quarter. Raymond James & Associates increased its stake in Cassava Sciences by 0.8% in the fourth quarter. Raymond James & Associates now owns 74,097 shares of the company’s stock valued at $1,668,000 after acquiring an additional 565 shares during the last quarter. Clear Creek Financial Management LLC lifted its stake in Cassava Sciences by 29.0% during the fourth quarter. Clear Creek Financial Management LLC now owns 134,605 shares of the company’s stock worth $3,030,000 after purchasing an additional 30,265 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Cassava Sciences by 8.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,893 shares of the company’s stock worth $403,000 after purchasing an additional 1,418 shares during the last quarter. Finally, Essex LLC boosted its holdings in shares of Cassava Sciences by 186.1% in the 4th quarter. Essex LLC now owns 34,774 shares of the company’s stock valued at $783,000 after purchasing an additional 22,620 shares in the last quarter. Institutional investors own 38.05% of the company’s stock.

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.