Cassava Sciences (NASDAQ:SAVA) Stock Rating Lowered by HC Wainwright

HC Wainwright cut shares of Cassava Sciences (NASDAQ:SAVA) from a buy rating to a neutral rating in a research note released on Tuesday morning, MarketBeat reports. HC Wainwright currently has $116.00 price target on the stock. HC Wainwright also issued estimates for Cassava Sciences’ Q4 2024 earnings at ($0.68) EPS, FY2024 earnings at ($3.97) EPS and FY2025 earnings at ($0.62) EPS.

Separately, Rodman & Renshaw restated a “buy” rating and issued a $107.00 price objective on shares of Cassava Sciences in a research note on Thursday, August 8th.

Cassava Sciences Stock Performance

Shares of SAVA opened at $3.84 on Tuesday. The company has a 50-day simple moving average of $24.95 and a 200-day simple moving average of $22.79. Cassava Sciences has a 52 week low of $3.65 and a 52 week high of $42.20. The firm has a market capitalization of $184.74 million, a P/E ratio of -2.78 and a beta of -0.59.

Cassava Sciences (NASDAQ:SAVA) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.58) earnings per share for the quarter, topping the consensus estimate of ($1.37) by $0.79. During the same period last year, the business posted ($0.61) EPS. As a group, equities analysts forecast that Cassava Sciences will post -3.97 earnings per share for the current year.

Institutional Trading of Cassava Sciences

A number of large investors have recently bought and sold shares of SAVA. Arizona State Retirement System grew its holdings in shares of Cassava Sciences by 4.2% in the 2nd quarter. Arizona State Retirement System now owns 11,495 shares of the company’s stock worth $142,000 after purchasing an additional 468 shares during the last quarter. Profund Advisors LLC increased its holdings in shares of Cassava Sciences by 4.6% during the second quarter. Profund Advisors LLC now owns 13,440 shares of the company’s stock worth $166,000 after buying an additional 591 shares in the last quarter. State Board of Administration of Florida Retirement System increased its holdings in shares of Cassava Sciences by 5.7% during the first quarter. State Board of Administration of Florida Retirement System now owns 12,149 shares of the company’s stock worth $247,000 after buying an additional 650 shares in the last quarter. PFG Investments LLC raised its stake in shares of Cassava Sciences by 4.6% in the second quarter. PFG Investments LLC now owns 22,880 shares of the company’s stock valued at $283,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Brookstone Capital Management boosted its holdings in shares of Cassava Sciences by 6.0% in the 2nd quarter. Brookstone Capital Management now owns 17,753 shares of the company’s stock worth $219,000 after acquiring an additional 1,000 shares in the last quarter. 38.05% of the stock is currently owned by institutional investors.

Cassava Sciences Company Profile

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.