Cassava Sciences (NASDAQ:SAVA) Stock Rating Upgraded by Wall Street Zen

Cassava Sciences (NASDAQ:SAVA) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Sunday.

Separately, Weiss Ratings reissued 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. Based on data from MarketBeat, Cassava Sciences currently has a consensus rating of “Reduce” and an average price target of $2.00.

Cassava Sciences Stock Down 0.5%

Shares of SAVA stock opened at $2.03 on Friday. The company has a 50 day moving average of $2.11 and a 200-day moving average of $2.67. Cassava Sciences has a 12-month low of $1.15 and a 12-month high of $4.98. The firm has a market cap of $98.07 million, a P/E ratio of -0.93 and a beta of -0.85.

Institutional Trading of Cassava Sciences

Several hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of Cassava Sciences by 5.5% during the 3rd quarter. Vanguard Group Inc. now owns 2,289,523 shares of the company’s stock valued at $6,663,000 after buying an additional 119,451 shares in the last quarter. Marshall Wace LLP grew its stake in Cassava Sciences by 2.6% in the 4th quarter. Marshall Wace LLP now owns 2,115,307 shares of the company’s stock valued at $4,188,000 after buying an additional 54,021 shares in the last quarter. Two Sigma Investments LP raised its holdings in Cassava Sciences by 7.3% during the 3rd quarter. Two Sigma Investments LP now owns 564,998 shares of the company’s stock valued at $1,644,000 after acquiring an additional 38,483 shares during the period. Geode Capital Management LLC lifted its position in shares of Cassava Sciences by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 545,969 shares of the company’s stock worth $1,081,000 after acquiring an additional 8,068 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in shares of Cassava Sciences by 77.9% during the first quarter. Goldman Sachs Group Inc. now owns 496,313 shares of the company’s stock worth $744,000 after acquiring an additional 217,404 shares in the last quarter. 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.