Cassava Sciences (NASDAQ:SAVA) Trading 7% Higher

Cassava Sciences Inc (NASDAQ:SAVA) rose 7% on Tuesday . The company traded as high as $1.76 and last traded at $1.83, approximately 24,977 shares traded hands during mid-day trading. A decline of 70% from the average daily volume of 83,359 shares. The stock had previously closed at $1.71.

Several analysts have recently issued reports on SAVA shares. ValuEngine upgraded Cassava Sciences from a “strong sell” rating to a “sell” rating in a research report on Tuesday, November 12th. Zacks Investment Research raised shares of Cassava Sciences from a “hold” rating to a “strong-buy” rating and set a $1.50 target price for the company in a research note on Thursday, November 14th. HC Wainwright restated a “buy” rating and issued a $3.00 target price on shares of Cassava Sciences in a report on Wednesday, November 13th. Finally, Maxim Group restated a “buy” rating and issued a $3.00 target price on shares of Cassava Sciences in a report on Wednesday, September 18th.

The firm has a market cap of $29.45 million, a PE ratio of -2.93 and a beta of 1.85. The stock has a 50-day moving average price of $1.31 and a 200 day moving average price of $1.30.

Cassava Sciences (NASDAQ:SAVA) last released its earnings results on Tuesday, October 29th. The company reported ($0.04) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.14) by $0.10. On average, sell-side analysts predict that Cassava Sciences Inc will post -0.32 EPS for the current year.

An institutional investor recently raised its position in Cassava Sciences stock. Envestnet Asset Management Inc. grew its stake in shares of Cassava Sciences Inc (NASDAQ:SAVA) by 23.8% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 62,892 shares of the company’s stock after buying an additional 12,104 shares during the period. Envestnet Asset Management Inc. owned 0.37% of Cassava Sciences worth $76,000 as of its most recent SEC filing. Institutional investors and hedge funds own 10.72% of the company’s stock.

About Cassava Sciences (NASDAQ:SAVA)

Cassava Sciences, Inc, a clinical-stage drug development company, develops drugs for nervous system disorders. The company's lead therapeutic product candidate PTI-125, a small molecule drug that is in Phase II clinical trial for the treatment of Alzheimer's disease. It is also developing PTI-125Dx, a blood-based biomarker/diagnostic to detect Alzheimer's disease.

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