Cassava Sciences (NASDAQ:SAVA) Sees Large Volume Increase

Cassava Sciences, Inc. (NASDAQ:SAVA) shares saw unusually-high trading volume on Tuesday . Approximately 382,939 shares traded hands during trading, a decline of 60% from the previous session’s volume of 965,461 shares.The stock last traded at $11.58 and had previously closed at $12.14.

Analysts Set New Price Targets

Separately, HC Wainwright lowered shares of Cassava Sciences from a “buy” rating to a “neutral” rating in a report on Monday.

Cassava Sciences Trading Up 0.7 %

The business’s fifty day moving average is $20.66 and its 200 day moving average is $22.01.

Cassava Sciences (NASDAQ:SAVA) last issued its quarterly earnings data on Friday, May 10th. The company reported ($1.41) EPS for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.90). Analysts predict that Cassava Sciences, Inc. will post -1.86 EPS for the current year.

Institutional Investors Weigh In On Cassava Sciences

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SAVA. Cable Car Capital LLC acquired a new stake in Cassava Sciences in the 4th quarter valued at $1,204,000. Vanguard Group Inc. increased its stake in Cassava Sciences by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 2,356,480 shares of the company’s stock valued at $47,813,000 after buying an additional 31,854 shares during the last quarter. Clear Creek Financial Management LLC increased its stake in Cassava Sciences by 29.0% in the 4th quarter. Clear Creek Financial Management LLC now owns 134,605 shares of the company’s stock valued at $3,030,000 after buying an additional 30,265 shares during the last quarter. Virtu Financial LLC increased its stake in Cassava Sciences by 120.3% in the 4th quarter. Virtu Financial LLC now owns 49,128 shares of the company’s stock valued at $1,106,000 after buying an additional 26,824 shares during the last quarter. Finally, Essex LLC increased its stake in Cassava Sciences by 186.1% in the 4th quarter. Essex LLC now owns 34,774 shares of the company’s stock valued at $783,000 after buying an additional 22,620 shares during the last quarter. 38.05% of the stock is currently owned by institutional investors and hedge funds.

Cassava Sciences Company Profile

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.