Cassava Sciences (NASDAQ:SAVA) Lowered to “Sell” Rating by Wall Street Zen

Cassava Sciences (NASDAQ:SAVA) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Saturday.

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Cassava Sciences in a research note on Friday, December 26th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Cassava Sciences has an average rating of “Reduce” and a consensus target price of $2.00.

Cassava Sciences Trading Down 3.0%

Shares of SAVA stock opened at $2.28 on Friday. Cassava Sciences has a 12-month low of $1.15 and a 12-month high of $4.98. The stock has a market capitalization of $110.15 million, a P/E ratio of -1.04 and a beta of -0.63. The firm’s 50 day moving average is $2.12 and its 200 day moving average is $2.67.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in SAVA. Catalyst Funds Management Pty Ltd bought a new position in shares of Cassava Sciences in the second quarter worth about $34,000. Aristides Capital LLC bought a new stake in Cassava Sciences during the 2nd quarter valued at approximately $29,000. Price T Rowe Associates Inc. MD purchased a new position in Cassava Sciences in the 4th quarter worth approximately $63,000. Engineers Gate Manager LP boosted its stake in Cassava Sciences by 121.1% in the 4th quarter. Engineers Gate Manager LP now owns 31,654 shares of the company’s stock worth $63,000 after purchasing an additional 17,335 shares during the period. Finally, Jump Financial LLC purchased a new stake in Cassava Sciences during the 2nd quarter valued at approximately $50,000. 38.05% of the stock is currently owned by institutional investors.

Cassava Sciences Company Profile

Cassava Sciences, Inc is a clinical-stage biopharmaceutical company focused on the development of novel therapies and diagnostics for Alzheimer’s disease and related neurodegenerative disorders. Headquartered in Austin, Texas, the company was originally founded as Pain Therapeutics in 1998 and rebranded to Cassava Sciences in 2017. Cassava’s research program centers on small molecules designed to address underlying mechanisms of neurodegeneration rather than solely targeting amyloid plaques or tau tangles.

The company’s lead drug candidate, simufilam (formerly PTI-125), is a proprietary small molecule that aims to restore normal shape and function to the scaffolding protein filamin A, which has been implicated in impaired neuronal signaling and inflammation in Alzheimer’s patients.