Cassava Sciences (NASDAQ:SAVA) Reaches New 1-Year High at $40.71

Shares of Cassava Sciences, Inc. (NASDAQ:SAVA) reached a new 52-week high during trading on Monday . The company traded as high as $40.71 and last traded at $40.38, with a volume of 10231602 shares. The stock had previously closed at $29.11.

Wall Street Analyst Weigh In

Separately, HC Wainwright reiterated a “neutral” rating on shares of Cassava Sciences in a research report on Friday, July 19th.

Cassava Sciences Stock Performance

The business has a 50 day moving average of $16.76 and a two-hundred day moving average of $20.35. The firm has a market capitalization of $1.68 billion, a price-to-earnings ratio of -15.53 and a beta of -0.57.

Cassava Sciences (NASDAQ:SAVA) last issued its earnings results on Friday, May 10th. The company reported ($1.41) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.90). On average, equities analysts predict that Cassava Sciences, Inc. will post -1.86 EPS for the current fiscal year.

Institutional Investors Weigh In On Cassava Sciences

Institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of Cassava Sciences by 0.8% during the third quarter. Vanguard Group Inc. now owns 2,268,566 shares of the company’s stock valued at $37,749,000 after acquiring an additional 18,907 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its position in shares of Cassava Sciences by 5.7% in the first quarter. State Board of Administration of Florida Retirement System now owns 12,149 shares of the company’s stock valued at $247,000 after acquiring an additional 650 shares during the period. Commonwealth Equity Services LLC grew its stake in Cassava Sciences by 6.9% during the first quarter. Commonwealth Equity Services LLC now owns 45,067 shares of the company’s stock valued at $914,000 after acquiring an additional 2,921 shares in the last quarter. Cable Car Capital LLC bought a new stake in Cassava Sciences during the 4th quarter worth approximately $1,204,000. Finally, NBC Securities Inc. lifted its stake in Cassava Sciences by 9.3% in the 1st quarter. NBC Securities Inc. now owns 7,650 shares of the company’s stock worth $155,000 after purchasing an additional 650 shares in the last quarter. Institutional investors and hedge funds own 38.05% of the company’s stock.

About Cassava Sciences

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 2 clinical trial; and investigational diagnostic product candidate is SavaDx, a blood-based biomarker/diagnostic to detect Alzheimer's disease.