What's Going On With Cassava Sciences Stock?

Cassava Sciences, Inc. SAVA shares are trading higher Monday on continued upward momentum. The stock has gained more than 20% over than last five days.

What To Know:

Shares of SAVA are climbing on heavy trading volume Monday. According to data from Benzinga Pro, more than 1.35 million shares have already been traded in the session, compared to the stock's 100-day average volume of 1.231 million shares. 36.61% of SAVA shares are being sold short.

Cassava Sciences announced Claude Nicaise, MD, Pierre Gravier, MS and Robert Anderson, Jr. were appointed to the board of directors last Thursday.

Cassava Sciences is a clinical-stage biotechnology company, and its therapeutic product candidate, simufilam, is being investigated for the treatment of Alzheimer's disease.

According to data from Benzinga Pro, shares of SAVA are trading above the stock's 50-day moving average of $19.53, yet well-below its 52-week high of $45.20.

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SAVA Price Action: According to Benzinga Pro, Cassava Sciences shares are up nearly 12% at $27.25 at the time of publication.

Image: Alexandra Koch from Pixabay