Cassava Sciences (NASDAQ:SAVA) Cut to Neutral at HC Wainwright

HC Wainwright lowered shares of Cassava Sciences (NASDAQ:SAVA) from a buy rating to a neutral rating in a research note issued to investors on Tuesday morning, MarketBeat reports. They currently have $116.00 price objective 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 reissued a “buy” rating and issued a $107.00 price target on shares of Cassava Sciences in a report on Thursday, August 8th.

Cassava Sciences Stock Performance

Shares of NASDAQ SAVA opened at $3.98 on Tuesday. Cassava Sciences has a fifty-two week low of $3.65 and a fifty-two week high of $42.20. The stock has a market cap of $191.48 million, a PE ratio of -2.88 and a beta of -0.59. The stock has a fifty day moving average of $25.47 and a 200-day moving average of $22.91.

Cassava Sciences (NASDAQ:SAVA) last posted its earnings results on Thursday, November 7th. The company reported ($0.58) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.37) by $0.79. During the same period in the previous year, the business posted ($0.61) EPS. On average, sell-side analysts predict that Cassava Sciences will post -3.63 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of SAVA. KBC Group NV bought a new stake in Cassava Sciences during the third quarter valued at approximately $57,000. Quest Partners LLC raised its position in shares of Cassava Sciences by 117.8% during the 3rd quarter. Quest Partners LLC now owns 1,997 shares of the company’s stock valued at $59,000 after buying an additional 1,080 shares in the last quarter. Dark Forest Capital Management LP bought a new stake in shares of Cassava Sciences during the 2nd quarter worth $131,000. Arizona State Retirement System grew its position in Cassava Sciences by 4.2% in the second quarter. Arizona State Retirement System now owns 11,495 shares of the company’s stock worth $142,000 after acquiring an additional 468 shares in the last quarter. Finally, Profund Advisors LLC increased its stake in Cassava Sciences by 4.6% in the second quarter. Profund Advisors LLC now owns 13,440 shares of the company’s stock valued at $166,000 after acquiring an additional 591 shares during the last quarter. Hedge funds and other institutional investors 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.