Cassava Sciences (NASDAQ:SAVA) Sees Strong Trading Volume

Cassava Sciences, Inc. (NASDAQ:SAVA) saw unusually-strong trading volume on Monday . Approximately 879,612 shares were traded during mid-day trading, an increase of 19% from the previous session’s volume of 737,855 shares.The stock last traded at $20.62 and had previously closed at $22.75.

Analysts Set New Price Targets

Separately, HC Wainwright reiterated a “buy” rating and issued a $124.00 price target on shares of Cassava Sciences in a research note on Tuesday, March 5th.

Cassava Sciences Stock Performance

The stock has a 50-day moving average of $21.99 and a two-hundred day moving average of $19.67.

Cassava Sciences (NASDAQ:SAVA) last issued its quarterly earnings results on Wednesday, February 28th. The company reported ($0.50) earnings per share for the quarter, missing the consensus estimate of ($0.40) by ($0.10). On average, equities analysts forecast that Cassava Sciences, Inc. will post -2.01 earnings per share for the current year.

Institutional Trading of Cassava Sciences

Institutional investors have recently added to or reduced their stakes in the business. Impact Partnership Wealth LLC purchased a new stake in Cassava Sciences in the third quarter worth approximately $25,000. Montag A & Associates Inc. grew its holdings in shares of Cassava Sciences by 50.0% in the third quarter. Montag A & Associates Inc. now owns 1,500 shares of the company’s stock worth $25,000 after acquiring an additional 500 shares during the period. Northwest Financial Advisors purchased a new position in shares of Cassava Sciences during the 4th quarter valued at about $25,000. Benjamin F. Edwards & Company Inc. raised its stake in Cassava Sciences by 653.6% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 1,153 shares of the company’s stock worth $26,000 after acquiring an additional 1,000 shares during the period. Finally, Captrust Financial Advisors raised its stake in Cassava Sciences by 484.7% during the 1st quarter. Captrust Financial Advisors now owns 877 shares of the company’s stock worth $33,000 after acquiring an additional 727 shares during the period. 38.05% of the stock is currently owned by hedge funds and other institutional investors.

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.