Cassava Sciences (NASDAQ:SAVA) Sees Unusually-High Trading Volume

Cassava Sciences Inc (NASDAQ:SAVA) shares saw unusually-high trading volume on Monday . Approximately 1,607,530 shares changed hands during trading, an increase of 644% from the previous session’s volume of 216,181 shares.The stock last traded at $1.71 and had previously closed at $1.48.

Several research firms have commented on SAVA. HC Wainwright restated a “buy” rating and issued a $3.00 target price on shares of Cassava Sciences in a research report on Wednesday, November 13th. ValuEngine raised Cassava Sciences from a “strong sell” rating to a “sell” rating in a report on Tuesday, November 12th. Maxim Group reiterated a “buy” rating and set a $3.00 price objective on shares of Cassava Sciences in a research report on Wednesday, September 18th. Finally, Zacks Investment Research raised Cassava Sciences from a “hold” rating to a “strong-buy” rating and set a $1.50 price objective for the company in a report on Thursday, November 14th.

The company has a market cap of $25.48 million, a P/E ratio of -2.82 and a beta of 1.85. The company has a 50 day moving average price of $1.32 and a 200-day moving average price of $1.30.

Cassava Sciences (NASDAQ:SAVA) last issued its quarterly earnings data on Tuesday, October 29th. The company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.10. As a group, sell-side analysts forecast that Cassava Sciences Inc will post -0.32 earnings per share for the current year.

A hedge fund recently raised its stake in Cassava Sciences stock. Envestnet Asset Management Inc. grew its stake in shares of Cassava Sciences Inc (NASDAQ:SAVA) by 23.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 62,892 shares of the company’s stock after buying an additional 12,104 shares during the quarter. Envestnet Asset Management Inc. owned about 0.37% of Cassava Sciences worth $76,000 as of its most recent filing with the Securities and Exchange Commission. 10.72% of the stock is currently owned by institutional investors.

Cassava Sciences Company Profile (NASDAQ:SAVA)

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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