Streetbeat News

SAVA

Cassava Sciences, Inc.

https://www.cassavasciences.com

Industry

Biotechnology

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 2b clinical trial; and investigational diagnostic product candidate is SavaDx, a blood-based biomarker/diagnostic to detect Alzheimer's disease. The company was formerly known as Pain Therapeutics, Inc. and changed its name to Cassava Sciences, Inc. in March 2019. Cassava Sciences, Inc. was incorporated in 1998 and is based in Austin, Texas.

Open

26.40

Mkt cap

1.2B

Volume

1.6M

High

27.16

P/E Ratio

-8.95

52-wk high

42.20

Low

24.65

Div yield

N/A

52-wk low

8.79

On Monday, the U.S. stock market showed mixed results with the Dow Jones slightly up and NASDAQ, S&P 500 down. Boeing, Oracle, Meta Platforms, Cassava Sciences, and Tesla were among the most watched stocks due to various reasons including legal investigations, upcoming financial results, and product updates.

Portfolio Pulse from Benzinga Neuro

March 12, 2024 | 2:33 am

HC Wainwright & Co. analyst Vernon Bernardino has reiterated a Buy rating on Cassava Sciences (NASDAQ:SAVA), maintaining a $124 price target.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 11:43 am

Cassava Sciences (NASDAQ:SAVA) reported Q4 earnings, beating estimated earnings by 4.0% with an EPS of $-0.5 versus an estimate of $-0.52. However, revenue remained unchanged from the same period last year. In the previous quarter, the company also surpassed EPS estimates, which was followed by a 1.0% drop in share price the next day.

Portfolio Pulse from Benzinga Insights

February 28, 2024 | 9:00 pm

Cassava Sciences (NASDAQ:SAVA) reported Q4 earnings with losses of $(0.50) per share, surpassing the analyst consensus estimate of $(0.52) by 3.85%. However, this represents a 6.38% increase in losses compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

February 28, 2024 | 2:18 pm

Cassava Sciences, Inc. (NASDAQ:SAVA) shares rose after reporting positive top-line results from a two-year clinical safety study of simufilam for Alzheimer's disease dementia, showing no decline in cognition scores in patients with mild Alzheimer's disease. The stock has become a focal point for both retail investors and short-sellers, with a significant short interest of 33.49%.

Portfolio Pulse from Erica Kollmann

February 07, 2024 | 4:15 pm

Cassava Sciences (NYSE:SAVA) has seen a decrease in short interest, with the short percent of float dropping 3.99% since the last report. The company has 13.33 million shares sold short, representing 33.49% of its float. The average time to cover these short positions is 13.32 days. Short interest is a measure of market sentiment, and a decrease may indicate a more bullish outlook. However, this does not necessarily predict a near-term price rise. Cassava Sciences has a higher short interest compared to its peers, with the peer group average at 12.46%.

Portfolio Pulse from Benzinga Insights

January 29, 2024 | 3:15 pm

Cassava Sciences has announced a distribution of warrants to shareholders, allowing them to purchase additional shares. For every ten shares held, shareholders will receive four warrants on January 3, 2024.

Portfolio Pulse from Benzinga Newsdesk

January 03, 2024 | 2:21 pm

CarMax, Inc. (NYSE:KMX) shares rose by approximately 8% following its quarterly earnings report, which showed an EPS of $0.52, surpassing the consensus estimate of $0.44, despite a 5.5% year-on-year sales decline. Other stocks experienced significant movements in Thursday's mid-day session, with various companies reporting investments, acquisitions, and regulatory updates that influenced their stock prices.

Portfolio Pulse from Avi Kapoor

December 21, 2023 | 6:01 pm

Paychex, Inc. reported Q2 FY24 sales of $1.26 billion, missing estimates by $0.01 billion, but beat EPS estimates by $0.01. The stock fell 5.4%. Other stocks also declined: ZJYL after a Nasdaq compliance notice, BB following Q3 results, and others due to various reasons. WBD's CEOs discussed a potential merger.

Portfolio Pulse from Avi Kapoor

December 21, 2023 | 4:02 pm

Blue Bird Corporation (BLBD) reported Q4 earnings of 66 cents per share, surpassing expectations of 48 cents, with revenue of $302.96 million beating estimates of $290.11 million. The company also increased its FY24 revenue forecast, causing shares to rise 9.1% to $23.80. Other stocks making significant moves include Icosavax (ICVX) with a 47.1% jump after AstraZeneca's acquisition plans, and Eagle Bulk Shipping (EGLE) rising 9.2% following a merger announcement with Star Bulk. Various companies reported positive financial results or received favorable analyst ratings, contributing to their stock gains.

Portfolio Pulse from Avi Kapoor

December 12, 2023 | 3:13 pm

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