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Cassava Sciences (NASDAQ:SAVA – Get Rating) had its target price dropped by investment analysts at Univest Sec from $12.00 to $11.00 in a note issued to investors on Tuesday, The Fly reports. Univest Sec’s price objective suggests a potential downside of 68.02% from the company’s previous close.SAVA has been the subject of a number of other reports. HC Wainwright reaffirmed a “buy” rating on shares of Cassava Sciences in a research note on Thursday, August 4th. B. Riley downgraded shares of Cassava Sciences from a “buy” rating to a “neutral” rating and set a $44.00 price objective on the stock. in a report on Wednesday, November 16th.
Cassava Sciences Stock Performance
SAVA stock traded up $0.49 during trading on Tuesday, reaching $34.40. 945,542 shares of the company traded hands, compared to its average volume of 2,141,806. The company has a market capitalization of $1.38 billion, a price-to-earnings ratio of -19.33 and a beta of 0.07. The business has a 50 day simple moving average of $37.31 and a 200 day simple moving average of $29.50. Cassava Sciences has a 12 month low of $13.84 and a 12 month high of $62.49.
Cassava Sciences (NASDAQ:SAVA – Get Rating) last released its quarterly earnings results on Monday, November 7th. The company reported ($0.51) EPS for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.04). As a group, research analysts forecast that Cassava Sciences will post -1.98 EPS for the current year.
Institutional Investors Weigh In On Cassava Sciences
A number of hedge funds and other institutional investors have recently modified their holdings of SAVA. Vanguard Group Inc. lifted its stake in Cassava Sciences by 3.0% during the third quarter. Vanguard Group Inc. now owns 2,109,863 shares of the company’s stock worth $88,235,000 after purchasing an additional 62,151 shares during the last quarter. State Street Corp lifted its position in shares of Cassava Sciences by 8.0% during the 1st quarter. State Street Corp now owns 1,053,956 shares of the company’s stock worth $39,144,000 after buying an additional 77,830 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Cassava Sciences by 2.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 273,962 shares of the company’s stock valued at $10,175,000 after buying an additional 6,462 shares in the last quarter. Marshall Wace LLP purchased a new position in shares of Cassava Sciences in the 3rd quarter valued at $6,579,000. Finally, Bank of New York Mellon Corp raised its stake in Cassava Sciences by 10.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 128,794 shares of the company’s stock worth $5,386,000 after acquiring an additional 12,408 shares in the last quarter. 24.36% of the stock is currently owned by institutional investors and hedge funds.
Cassava Sciences Company Profile
(Get Rating)
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 2b clinical trial; and investigational diagnostic product candidate is SavaDx, a blood-based biomarker/diagnostic to detect Alzheimer's disease.
Further Reading
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