Equities researchers at Maxim Group started coverage on shares of Cassava Sciences (NASDAQ:SAVA) in a note issued to investors on Thursday, TipRanks reports. The brokerage set a “buy” rating and a $12.00 price target on the stock. Maxim Group’s price objective would indicate a potential upside of 190.56% from the stock’s current price.
Several other equities research analysts also recently weighed in on SAVA. ValuEngine raised shares of Cassava Sciences from a “strong sell” rating to a “sell” rating in a report on Tuesday, March 3rd. Zacks Investment Research downgraded shares of Cassava Sciences from a “buy” rating to a “hold” rating in a report on Saturday, January 25th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $6.00 price objective (up previously from $3.00) on shares of Cassava Sciences in a report on Friday, December 6th.
SAVA stock opened at $4.13 on Thursday. The company has a market capitalization of $66.04 million, a P/E ratio of -18.77 and a beta of 2.81. The company has a 50-day simple moving average of $6.01 and a 200 day simple moving average of $3.87. Cassava Sciences has a fifty-two week low of $1.00 and a fifty-two week high of $10.95.
In other Cassava Sciences news, CEO Remi Barbier purchased 100,000 shares of the business’s stock in a transaction on Tuesday, December 31st. The stock was bought at an average cost of $5.53 per share, with a total value of $553,000.00. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. 14.90% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Geode Capital Management LLC lifted its holdings in Cassava Sciences by 93.0% in the 4th quarter. Geode Capital Management LLC now owns 144,251 shares of the company’s stock valued at $750,000 after acquiring an additional 69,519 shares during the last quarter. Jane Street Group LLC lifted its holdings in Cassava Sciences by 23.4% in the 4th quarter. Jane Street Group LLC now owns 17,269 shares of the company’s stock valued at $90,000 after acquiring an additional 3,279 shares during the last quarter. Marshall Wace LLP acquired a new stake in Cassava Sciences in the 4th quarter valued at about $284,000. Jefferies Group LLC acquired a new stake in Cassava Sciences during the 4th quarter worth about $364,000. Finally, Renaissance Technologies LLC raised its holdings in Cassava Sciences by 19.2% during the 4th quarter. Renaissance Technologies LLC now owns 1,015,759 shares of the company’s stock worth $5,282,000 after buying an additional 163,801 shares during the period. 26.71% of the stock is owned by institutional investors.
Cassava Sciences Company Profile
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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