Shares of Cassava Sciences, Inc. (NASDAQ:SAVA - Get Free Report) traded down 12.3% during trading on Thursday . The stock traded as low as $26.22 and last traded at $26.48. 542,829 shares changed hands during trading, a decline of 67% from the average session volume of 1,637,785 shares. The stock had previously closed at $30.20.
Analyst Upgrades and Downgrades
SAVA has been the topic of several recent research reports. HC Wainwright restated a "neutral" rating on shares of Cassava Sciences in a research report on Friday, July 19th. Rodman & Renshaw restated a "buy" rating and issued a $107.00 target price on shares of Cassava Sciences in a report on Thursday.
Read Our Latest Stock Analysis on Cassava Sciences
Cassava Sciences Stock Down 13.8 %
The business's 50 day simple moving average is $17.38 and its 200 day simple moving average is $20.52. The company has a market capitalization of $1.25 billion, a PE ratio of -12.05 and a beta of -0.57.
Cassava Sciences (NASDAQ:SAVA - Get Free Report) last issued its quarterly earnings results on Friday, May 10th. The company reported ($1.41) EPS for the quarter, missing the consensus estimate of ($0.51) by ($0.90). On average, analysts anticipate that Cassava Sciences, Inc. will post -1.86 earnings per share for the current fiscal year.
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Institutional Investors Weigh In On Cassava Sciences
Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in Cassava Sciences by 0.8% in the 3rd quarter. Vanguard Group Inc. now owns 2,268,566 shares of the company's stock worth $37,749,000 after buying an additional 18,907 shares in the last quarter. Raymond James & Associates boosted its position in Cassava Sciences by 0.8% during the fourth quarter. Raymond James & Associates now owns 74,097 shares of the company's stock valued at $1,668,000 after purchasing an additional 565 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in Cassava Sciences by 8.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,893 shares of the company's stock valued at $403,000 after purchasing an additional 1,418 shares in the last quarter. Essex LLC increased its position in Cassava Sciences by 186.1% in the 4th quarter. Essex LLC now owns 34,774 shares of the company's stock worth $783,000 after purchasing an additional 22,620 shares during the last quarter. Finally, Byrne Asset Management LLC raised its stake in shares of Cassava Sciences by 32.9% during the 4th quarter. Byrne Asset Management LLC now owns 3,350 shares of the company's stock worth $75,000 after purchasing an additional 830 shares in the last quarter. 38.05% of the stock is owned by hedge funds and other 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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Shares of Cassava Sciences, Inc. (NASDAQ:SAVA - Get Free Report) traded down 12.3% during trading on Thursday . The stock traded as low as $26.22 and last traded at $26.48. 542,829 shares changed hands during trading, a decline of 67% from the average session volume of 1,637,785 shares.
Shares of Alzheimer's drug developer Cassava Sciences tumbled following the indictment of a medical professor who advised the company. The Justice Department said on Friday that City University of New York School of Medicine Professor Hoau-Yan Wang was indicted on charges related to obtaining federal research grants.
The decline came on the heels of the federal indictment on Friday of Hoau-Yan Wang, a former consultant to Cassava. Wang was accused of fraud related to grant applications made to the U.S. National Institutes of Health (NIH) for work on Cassava's experimental drug simufilam.
Cassava (Manihot esculenta) production is vital to the economy of Nigeria as the country is the world's largest producer of the commodity. The crop is produced in 24 of the country's 36 states.
Why Did Sorrento Therapeutics Go Down? The decision to file for Chapter 11 bankruptcy protection came on the heels of Sorrento's liquidity challenges. Even a capital infusion from JMB Capital Partners earlier in the year failed to stave off the financial turmoil that stemmed from the heavy debt burden.
Market capitalization (or market value) is the most commonly used method of measuring the size of a publicly traded company and is calculated by multiplying the current stock price by the number of shares outstanding. Cassava Sciences market cap as of August 08, 2024 is $1.45B.
Largest shareholders include BlackRock Inc., Vanguard Group Inc, VTSMX - Vanguard Total Stock Market Index Fund Investor Shares, State Street Corp, IWM - iShares Russell 2000 ETF, Geode Capital Management, Llc, VEXMX - Vanguard Extended Market Index Fund Investor Shares, Gallacher Capital Management LLC, Susquehanna ...
Approximately 18.11% of the company's stock is owned by Institutional Investors, 34.10% is owned by Insiders and 47.80% is owned by Public Companies and Individual Investors.
This move in SAVA stock comes after a key science advisor was charged with defrauding the National Institutes of Health (NIH). Indeed, Hoau-Yan Wang, a professor at the City University of New York (CUNY), was charged with fraud of over $16 million in grants.
ARKO is currently sporting a Zacks Rank of #1 (Strong Buy), as well as an A grade for Value. The stock is trading with P/E ratio of 10.62 right now. For comparison, its industry sports an average P/E of 17.79. Over the past year, ARKO's Forward P/E has been as high as 74.25 and as low as 10.53, with a median of 24.25.
Largest shareholders include BlackRock Inc., Vanguard Group Inc, VTSMX - Vanguard Total Stock Market Index Fund Investor Shares, State Street Corp, IWM - iShares Russell 2000 ETF, Geode Capital Management, Llc, VEXMX - Vanguard Extended Market Index Fund Investor Shares, Gallacher Capital Management LLC, Susquehanna ...
This is sending shockwaves through the industry, leaving gari traders struggling to make ends meet. The traders/operators suffered poor sales last month due to a substantial price hike triggered by a shortage of cassava, a market survey conducted by the Ghana News Agency in the second quarter of 2024 has revealed.
Introduction: My name is Nathanael Baumbach, I am a fantastic, nice, victorious, brave, healthy, cute, glorious person who loves writing and wants to share my knowledge and understanding with you.
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