Cassava Sciences (NASDAQ:SAVA) Trading 6.2% Higher

Shares of Cassava Sciences, Inc. (NASDAQ:SAVA) traded up 6.2% during mid-day trading on Tuesday . The company traded as high as $21.64 and last traded at $21.26. 719,466 shares traded hands during trading, a decline of 5% from the average session volume of 755,018 shares. The stock had previously closed at $20.01.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reissued a “buy” rating and issued a $124.00 price target on shares of Cassava Sciences in a report on Tuesday, March 5th.

Cassava Sciences Trading Up 5.2 %

The stock has a market cap of $910.85 million, a P/E ratio of -9.24 and a beta of -0.45. The firm has a 50-day simple moving average of $22.04 and a two-hundred day simple moving average of $19.61.

Cassava Sciences (NASDAQ:SAVA) last issued its quarterly earnings results on Wednesday, February 28th. The company reported ($0.50) EPS for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.10). Sell-side analysts predict that Cassava Sciences, Inc. will post -2.01 earnings per share for the current year.

Institutional Trading of Cassava Sciences

Hedge funds have recently made changes to their positions in the company. NBC Securities Inc. lifted its stake in shares of Cassava Sciences by 9.3% in the first quarter. NBC Securities Inc. now owns 7,650 shares of the company’s stock worth $155,000 after acquiring an additional 650 shares during the period. Vanguard Group Inc. lifted its stake in shares of Cassava Sciences by 2.5% in the fourth quarter. Vanguard Group Inc. now owns 2,324,626 shares of the company’s stock worth $52,327,000 after acquiring an additional 56,060 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of Cassava Sciences by 203.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 161,659 shares of the company’s stock worth $3,639,000 after acquiring an additional 108,456 shares during the period. Virtu Financial LLC lifted its stake in shares of Cassava Sciences by 120.3% in the fourth quarter. Virtu Financial LLC now owns 49,128 shares of the company’s stock worth $1,106,000 after acquiring an additional 26,824 shares during the period. Finally, Cable Car Capital LLC acquired a new position in shares of Cassava Sciences in the fourth quarter worth approximately $1,204,000. 38.05% of the stock is owned by institutional investors and hedge funds.

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.