Cassava Sciences, Inc. Forecasted to Earn FY2022 Earnings of ($1.90) Per Share (NASDAQ:SAVA)

Cassava Sciences, Inc. (NASDAQ:SAVAGet Rating) – Research analysts at Univest Sec cut their FY2022 EPS estimates for Cassava Sciences in a note issued to investors on Tuesday, November 8th. Univest Sec analyst J. Jang now anticipates that the company will earn ($1.90) per share for the year, down from their prior forecast of ($1.89). Univest Sec has a “Sell” rating and a $12.00 price target on the stock. The consensus estimate for Cassava Sciences’ current full-year earnings is ($2.02) per share. Univest Sec also issued estimates for Cassava Sciences’ Q4 2022 earnings at ($0.47) EPS, Q1 2023 earnings at ($0.33) EPS, Q2 2023 earnings at ($0.37) EPS, Q3 2023 earnings at ($0.40) EPS, Q4 2023 earnings at ($0.39) EPS and FY2023 earnings at ($1.49) EPS.

A number of other equities analysts also recently weighed in on SAVA. HC Wainwright reaffirmed a “buy” rating on shares of Cassava Sciences in a research note on Thursday, August 4th. B. Riley decreased their target price on shares of Cassava Sciences from $58.00 to $44.00 and set a “buy” rating for the company in a research note on Thursday, August 11th.

Cassava Sciences Stock Performance

Shares of NASDAQ SAVA opened at $37.60 on Friday. Cassava Sciences has a fifty-two week low of $13.84 and a fifty-two week high of $73.50. The company has a 50 day simple moving average of $36.29 and a two-hundred day simple moving average of $28.23. The company has a market capitalization of $1.51 billion, a price-to-earnings ratio of -21.12 and a beta of 0.07.

Institutional Investors Weigh In On Cassava Sciences

Several institutional investors and hedge funds have recently added to or reduced their stakes in SAVA. SOA Wealth Advisors LLC. boosted its holdings in Cassava Sciences by 679.5% in the third quarter. SOA Wealth Advisors LLC. now owns 608 shares of the company’s stock worth $25,000 after purchasing an additional 530 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in Cassava Sciences in the third quarter worth approximately $25,000. Nisa Investment Advisors LLC boosted its holdings in Cassava Sciences by 346.2% in the second quarter. Nisa Investment Advisors LLC now owns 1,160 shares of the company’s stock worth $33,000 after purchasing an additional 900 shares during the last quarter. Captrust Financial Advisors boosted its holdings in Cassava Sciences by 484.7% in the first quarter. Captrust Financial Advisors now owns 877 shares of the company’s stock worth $33,000 after purchasing an additional 727 shares during the last quarter. Finally, Exchange Traded Concepts LLC purchased a new stake in Cassava Sciences in the third quarter worth approximately $35,000. Hedge funds and other institutional investors own 24.36% of the company’s stock.

Insider Activity at Cassava Sciences

In other news, insider James William Kupiec purchased 2,500 shares of Cassava Sciences stock in a transaction that occurred on Tuesday, August 23rd. The stock was bought at an average price of $24.44 per share, with a total value of $61,100.00. Following the completion of the transaction, the insider now directly owns 2,500 shares of the company’s stock, valued at $61,100. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Richard Barry bought 36,159 shares of the company’s stock in a transaction that occurred on Tuesday, August 23rd. The shares were bought at an average price of $23.79 per share, for a total transaction of $860,222.61. Following the completion of the acquisition, the director now owns 186,159 shares of the company’s stock, valued at approximately $4,428,722.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider James William Kupiec bought 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 23rd. The stock was bought at an average price of $24.44 per share, for a total transaction of $61,100.00. Following the acquisition, the insider now directly owns 2,500 shares of the company’s stock, valued at approximately $61,100. The disclosure for this purchase can be found here. 10.10% of the stock is owned by insiders.

About Cassava Sciences

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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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Earnings History and Estimates for Cassava Sciences (NASDAQ:SAVA)

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