Cassava Sciences Sees Unusually Large Options Volume (NASDAQ:SAVA)

Cassava Sciences, Inc. (NASDAQ:SAVAGet Free Report) was the target of unusually large options trading on Tuesday. Stock investors purchased 9,018 call options on the company. This represents an increase of approximately 78% compared to the average daily volume of 5,071 call options.

Hedge Funds Weigh In On Cassava Sciences

A number of large investors have recently made changes to their positions in SAVA. Price T Rowe Associates Inc. MD boosted its holdings in Cassava Sciences by 4.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 31,327 shares of the company’s stock valued at $636,000 after purchasing an additional 1,456 shares during the last quarter. EntryPoint Capital LLC boosted its holdings in Cassava Sciences by 1,251.2% in the first quarter. EntryPoint Capital LLC now owns 2,297 shares of the company’s stock valued at $47,000 after purchasing an additional 2,127 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its holdings in Cassava Sciences by 146.7% in the first quarter. CANADA LIFE ASSURANCE Co now owns 9,408 shares of the company’s stock valued at $191,000 after purchasing an additional 5,594 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Cassava Sciences by 1.4% in the first quarter. Vanguard Group Inc. now owns 2,356,480 shares of the company’s stock valued at $47,813,000 after purchasing an additional 31,854 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System raised its position 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 worth $247,000 after acquiring an additional 650 shares during the period. 38.05% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, HC Wainwright downgraded shares of Cassava Sciences from a “buy” rating to a “neutral” rating in a report on Monday, July 1st.

Read Our Latest Report on SAVA

Cassava Sciences Stock Performance

Cassava Sciences stock opened at $11.16 on Thursday. The company has a 50 day moving average price of $19.36 and a 200-day moving average price of $21.55. Cassava Sciences has a fifty-two week low of $8.79 and a fifty-two week high of $32.10. The company has a market capitalization of $535.41 million, a PE ratio of -5.14 and a beta of -0.57.

Cassava Sciences (NASDAQ:SAVAGet Free Report) 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). On average, analysts forecast that Cassava Sciences will post -1.86 earnings per share for the current year.

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.

Read More

Receive News & Ratings for Cassava Sciences Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cassava Sciences and related companies with MarketBeat.com's FREE daily email newsletter.