Cassava Sciences, Inc. (NASDAQ: SAVA) Short Interest Update
Cassava Sciences, Inc. (NASDAQ: SAVA) benefited from a significant increase in short-term interest in October. As of October 29, there was short interest totaling 11,350,000 shares, an increase of 20.5% from the total of 9,420,000 shares as of October 14. Currently, 30.4% of the shares are sold short. Based on an average daily trading volume of 8,450,000 shares, the short-term interest ratio is currently 1.3 days.
SAVA shares traded up $ 4.75 during trading hours on Friday, reaching $ 53.19. 6,211,151 shares of the company were traded, for an average volume of 5,917,175. The company has a 50-day simple moving average of $ 55.96 and a two-hundred-day simple moving average of $ 69.90. Cassava Sciences has a fifty-two week minimum of $ 6.70 and a fifty-two week maximum of $ 146.16. The company has a market cap of $ 2.13 billion, a P / E ratio of -96.71 and a beta of 0.48.
Cassava Sciences (NASDAQ: SAVA) last released its quarterly results on Wednesday, November 10. The company reported ($ 0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($ 0.15) of ($ 0.09). On average, analysts expect Cassava Sciences to post earnings per share of -0.66 for the current fiscal year.
SAVA has been the subject of several research reports. Zacks Investment Research downgraded Cassava Sciences shares from a âholdâ rating to a âsellâ rating in a report released on Tuesday, November 16. B. Riley raised his price target for Cassava Sciences shares from $ 111.00 to $ 145.00 and assigned the company a âbuyâ rating in a report released on Tuesday, August 3. Finally, Jonestrading reaffirmed a âbuyâ rating and set a price target of $ 215.00 on Cassava Sciences shares in a report released on Friday, September 3. One equity research analyst rated the stock with a sell rating, another assigned a conservation rating, and three assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of âHoldâ and an average target price of $ 126.60.
Hedge funds and other institutional investors have recently bought and sold stocks. Voloridge Investment Management LLC purchased a new position in Cassava Sciences during the 3rd quarter for a value of $ 13,799,000. Bleichroeder LP increased its stake in Cassava Sciences by 75.9% during the 1st quarter. Bleichroeder LP now owns 500,000 shares of the company valued at $ 22,475,000 after acquiring an additional 215,686 shares in the last quarter. Morgan Stanley increased its stake in Cassava Sciences by 117.8% during the 3rd quarter. Morgan Stanley now owns 354,469 shares of the company valued at $ 22,006,000 after acquiring an additional 191,738 shares during the last quarter. State Street Corp increased its stake in Cassava Sciences by 26.7% during the 2nd quarter. State Street Corp now owns 869,878 shares of the company valued at $ 74,322,000 after acquiring an additional 183,568 shares in the last quarter. Finally, Invesco Ltd. increased its stake in Cassava Sciences by 793.1% during the second quarter. Invesco Ltd. now owns 173,064 shares of the company valued at $ 14,787,000 after acquiring an additional 153,686 shares during the last quarter. 27.31% of the shares are held by institutional investors and hedge funds.
About cassava science
Cassava Sciences, Inc. engages in the development of new drugs and diagnostics. He is focused on the development of product candidates for the treatment of Alzheimer’s disease, including PTI-125 and PTI-125Dx. The company was founded by Remi Barbier and Barry M. Sherman in May 1998 and is headquartered in Austin, TX.
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