Shares of Cassava Sciences, Inc. (NASDAQ:SAVA - Get Free Report) saw an uptick in trading volume on Tuesday . 499,603 shares traded hands during mid-day trading, a decline of 68% from the previous session's volume of 1,568,099 shares.The stock last traded at $32.30 and had previously closed at $35.08.
Wall Street Analyst Weigh In
Separately, HC Wainwright restated a "neutral" rating on shares of Cassava Sciences in a research note on Friday, July 19th.
Read Our Latest Analysis on Cassava Sciences
Cassava Sciences Stock Down 13.1 %
The business has a 50-day simple moving average of $17.03 and a two-hundred day simple moving average of $20.42. The stock has a market capitalization of $1.46 billion, a P/E ratio of -13.76 and a beta of -0.57.
Cassava Sciences (NASDAQ:SAVA - Get Free Report) last posted its earnings results on Friday, May 10th. The company reported ($1.41) earnings per share for the quarter, missing the consensus estimate of ($0.51) by ($0.90). On average, sell-side analysts forecast that Cassava Sciences, Inc. will post -1.86 earnings per share for the current year.
Institutional Investors Weigh In On Cassava Sciences
A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in Cassava Sciences by 1.4% in the first quarter. Vanguard Group Inc. now owns 2,356,480 shares of the company's stock worth $47,813,000 after purchasing an additional 31,854 shares in the last quarter. Gallacher Capital Management LLC lifted its position in Cassava Sciences by 0.6% during the 1st quarter. Gallacher Capital Management LLC now owns 585,381 shares of the company's stock worth $11,877,000 after buying an additional 3,775 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Cassava Sciences by 1.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 308,836 shares of the company's stock worth $6,952,000 after buying an additional 4,115 shares in the last quarter. Clear Creek Financial Management LLC grew its holdings in Cassava Sciences by 5.1% during the 2nd quarter. Clear Creek Financial Management LLC now owns 145,550 shares of the company's stock worth $1,798,000 after acquiring an additional 7,025 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in Cassava Sciences by 18.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 140,847 shares of the company's stock valued at $1,739,000 after acquiring an additional 21,558 shares in the last quarter. 38.05% of the stock is currently owned by institutional investors.
Cassava Sciences Company Profile
(Get Free Report)
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.
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