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

Cassava Sciences, Inc. (NASDAQ:SAVAGet Free Report) saw some unusual options trading activity on Tuesday. Traders purchased 9,018 call options on the stock. This is an increase of approximately 78% compared to the typical daily volume of 5,071 call options.

Hedge Funds Weigh In On Cassava Sciences

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in shares of Cassava Sciences by 0.8% during the third quarter. Vanguard Group Inc. now owns 2,268,566 shares of the company’s stock worth $37,749,000 after purchasing an additional 18,907 shares in the last quarter. Raymond James & Associates grew its stake in Cassava Sciences by 0.8% in the 4th quarter. Raymond James & Associates now owns 74,097 shares of the company’s stock worth $1,668,000 after buying an additional 565 shares in the last quarter. Clear Creek Financial Management LLC increased its holdings in shares of Cassava Sciences by 29.0% in the 4th quarter. Clear Creek Financial Management LLC now owns 134,605 shares of the company’s stock worth $3,030,000 after buying an additional 30,265 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Cassava Sciences by 8.6% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,893 shares of the company’s stock valued at $403,000 after buying an additional 1,418 shares in the last quarter. Finally, Essex LLC lifted its holdings in shares of Cassava Sciences by 186.1% during the 4th quarter. Essex LLC now owns 34,774 shares of the company’s stock worth $783,000 after acquiring an additional 22,620 shares during the last quarter. 38.05% of the stock is currently owned by institutional investors.

Cassava Sciences Stock Up 17.4 %

SAVA stock opened at $11.55 on Wednesday. The stock has a 50-day simple moving average of $19.57 and a two-hundred day simple moving average of $21.63. Cassava Sciences has a twelve month low of $8.79 and a twelve month high of $32.10. The firm has a market capitalization of $554.17 million, a PE ratio of -5.32 and a beta of -0.57.

Cassava Sciences (NASDAQ:SAVAGet Free Report) last announced 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, equities research analysts anticipate that Cassava Sciences will post -1.86 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

Get Our Latest Stock Analysis on Cassava Sciences

About Cassava Sciences

(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.

Featured Articles

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.