Cassava Sciences’ (SAVA) Buy Rating Reaffirmed at Rodman & Renshaw

Rodman & Renshaw reissued their buy rating on shares of Cassava Sciences (NASDAQ:SAVA) in a report released on Thursday morning, Benzinga reports. Rodman & Renshaw currently has a $107.00 price objective on the stock.

Separately, HC Wainwright reissued a neutral rating on shares of Cassava Sciences in a report on Friday, July 19th.

Cassava Sciences Trading Down 16.0 %

NASDAQ:SAVA traded down $4.17 during trading hours on Thursday, hitting $21.85. The company’s stock had a trading volume of 4,204,451 shares, compared to its average volume of 1,696,391. Cassava Sciences has a 52-week low of $8.79 and a 52-week high of $42.20. The stock has a market capitalization of $1.05 billion, a P/E ratio of -10.11 and a beta of -0.57. The stock has a fifty day moving average of $17.45 and a 200-day moving average of $20.55.

Cassava Sciences (NASDAQ:SAVA) last released 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). On average, sell-side analysts forecast that Cassava Sciences will post -1.86 earnings per share for the current year.

Hedge Funds Weigh In On Cassava Sciences

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Cassava Sciences by 0.8% in the 3rd quarter. Vanguard Group Inc. now owns 2,268,566 shares of the company’s stock valued at $37,749,000 after purchasing an additional 18,907 shares during the period. State Board of Administration of Florida Retirement System boosted its holdings in shares of Cassava Sciences by 5.7% in the first quarter. State Board of Administration of Florida Retirement System now owns 12,149 shares of the company’s stock valued at $247,000 after acquiring an additional 650 shares during the period. Commonwealth Equity Services LLC grew its position in shares of Cassava Sciences by 6.9% during the first quarter. Commonwealth Equity Services LLC now owns 45,067 shares of the company’s stock worth $914,000 after acquiring an additional 2,921 shares during the last quarter. Cable Car Capital LLC acquired a new position in shares of Cassava Sciences in the 4th quarter valued at $1,204,000. Finally, NBC Securities Inc. raised its position in Cassava Sciences by 9.3% in the 1st quarter. NBC Securities Inc. now owns 7,650 shares of the company’s stock valued at $155,000 after purchasing an additional 650 shares during the last quarter. Hedge funds and other institutional investors own 38.05% of the company’s stock.

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.