Cassava Sciences (NASDAQ:SAVA) Rating Lowered to Sell at Wall Street Zen

Cassava Sciences (NASDAQ:SAVA) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Cassava Sciences in a research report on Friday, December 26th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average price target of $2.00.

Cassava Sciences Price Performance

NASDAQ SAVA opened at $2.28 on Friday. The company’s 50 day simple moving average is $2.12 and its two-hundred day simple moving average is $2.67. Cassava Sciences has a 1 year low of $1.15 and a 1 year high of $4.98. The stock has a market capitalization of $110.15 million, a PE ratio of -1.04 and a beta of -0.63.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Eagle Wealth Strategies LLC bought a new position in Cassava Sciences in the third quarter worth $29,000. Belpointe Asset Management LLC purchased a new stake in shares of Cassava Sciences in the 3rd quarter worth about $37,000. Fortis Capital Advisors LLC bought a new position in shares of Cassava Sciences in the 3rd quarter worth about $37,000. Mayport LLC purchased a new position in Cassava Sciences during the 3rd quarter valued at about $39,000. Finally, TT Capital Management LLC purchased a new position in Cassava Sciences during the 2nd quarter valued at about $28,000. Institutional investors own 38.05% of the company’s stock.

Cassava Sciences Company Profile

Cassava Sciences, Inc is a clinical-stage biopharmaceutical company focused on the development of novel therapies and diagnostics for Alzheimer’s disease and related neurodegenerative disorders. Headquartered in Austin, Texas, the company was originally founded as Pain Therapeutics in 1998 and rebranded to Cassava Sciences in 2017. Cassava’s research program centers on small molecules designed to address underlying mechanisms of neurodegeneration rather than solely targeting amyloid plaques or tau tangles.

The company’s lead drug candidate, simufilam (formerly PTI-125), is a proprietary small molecule that aims to restore normal shape and function to the scaffolding protein filamin A, which has been implicated in impaired neuronal signaling and inflammation in Alzheimer’s patients.