Shares of Cassava Sciences, Inc. (NASDAQ:SAVA – Get Rating) have been given an average rating of “Hold” by the six brokerages that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $127.75.
A number of equities research analysts have weighed in on the stock. B. Riley cut their price target on shares of Cassava Sciences from $108.00 to $72.00 and set a “buy” rating for the company in a report on Monday, January 24th. Univest Sec assumed coverage on shares of Cassava Sciences in a report on Monday, April 4th. They issued a “sell” rating for the company. Finally, Zacks Investment Research raised shares of Cassava Sciences from a “sell” rating to a “hold” rating in a report on Wednesday, January 12th.
Shares of NASDAQ SAVA traded down $0.69 during midday trading on Tuesday, reaching $26.25. 918,402 shares of the company traded hands, compared to its average volume of 1,673,280. Cassava Sciences has a 52 week low of $25.11 and a 52 week high of $146.16. The stock has a 50-day moving average price of $38.51 and a 200 day moving average price of $46.16.
A number of hedge funds have recently bought and sold shares of SAVA. Sittner & Nelson LLC purchased a new stake in Cassava Sciences during the third quarter valued at about $25,000. Geneos Wealth Management Inc. increased its holdings in shares of Cassava Sciences by 79.9% in the 3rd quarter. Geneos Wealth Management Inc. now owns 439 shares of the company’s stock valued at $26,000 after purchasing an additional 195 shares during the period. Sandy Spring Bank acquired a new position in shares of Cassava Sciences in the 3rd quarter valued at about $31,000. AllSquare Wealth Management LLC increased its holdings in shares of Cassava Sciences by 59.6% in the 3rd quarter. AllSquare Wealth Management LLC now owns 498 shares of the company’s stock valued at $31,000 after purchasing an additional 186 shares during the period. Finally, O Shaughnessy Asset Management LLC acquired a new position in shares of Cassava Sciences in the 3rd quarter valued at about $31,000. 35.36% of the stock is owned by institutional investors.
About Cassava Sciences (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.
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