Monday, January 18, 2021

Cantor Fitzgerald slashes price target on Cassava Sciences Inc. [SAVA] – find out why.

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Cassava Sciences Inc. [NASDAQ: SAVA] closed the trading session at $7.70 on 11/25/20. The day’s price range saw the stock hit a low of $7.25, while the highest price level was $7.90. The company report on November 13, 2020 that Cassava Sciences Announces Pricing of $75 Million Public Offering of Common Stock.

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Cassava Sciences, Inc. (Nasdaq: SAVA) (the “Company” or “Cassava Sciences”), a clinical-stage biotechnology company focused on Alzheimer’s disease, announced the pricing of its previously announced underwritten public offering. The Company is offering 9,375,000 shares of its common stock, par value $0.001 per share, at a price to the public of $8.00 per share. In connection with the offering, the Company has also granted the underwriters a 30-day option to purchase up to an additional 1,406,250 shares of common stock offered in the public offering.


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Cantor Fitzgerald & Co. is acting as lead bookrunning manager for the offering. H.C. Wainwright & Co. is acting as joint bookrunning manager for the offering. Maxim Group LLC is acting as a co-manager for the offering.

The stocks have a year to date performance of 48.08 percent and weekly performance of 2.94 percent. The stock has been moved at 259.81 percent over the last six months. The stock has performed -15.48 percent around the most recent 30 days and changed 152.46 percent over the most recent 3-months.

If compared to the average trading volume of 8.13M shares, SAVA reached to a volume of 3604836 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Cassava Sciences Inc. [SAVA]:

Cantor Fitzgerald have made an estimate for Cassava Sciences Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on October 23, 2020. The new note on the price target was released on September 23, 2020, representing the official price target for Cassava Sciences Inc. stock.

The Average True Range (ATR) for Cassava Sciences Inc. is set at 0.85 The Price to Book ratio for the last quarter was 8.02, with the Price to Cash per share for the same quarter was set at 0.92.

SAVA stock trade performance evaluation

Cassava Sciences Inc. [SAVA] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.94. With this latest performance, SAVA shares dropped by -15.48% in over the last four-week period, additionally plugging by 259.81% over the last 6 months – not to mention a rise of 446.10% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SAVA stock in for the last two-week period is set at 39.87, with the RSI for the last a single of trading hit 39.91, and the three-weeks RSI is set at 44.46 for Cassava Sciences Inc. [SAVA]. The present Moving Average for the last 50 days of trading for this stock 9.81, while it was recorded at 7.37 for the last single week of trading, and 5.70 for the last 200 days.

Cassava Sciences Inc. [SAVA]: An insightful look at the core fundamentals

Return on Total Capital for SAVA is now -46.34, given the latest momentum, and Return on Invested Capital for the company is -22.20. Return on Equity for this stock declined to -22.20, with Return on Assets sitting at -21.23. When it comes to the capital structure of this company, Cassava Sciences Inc. [SAVA] has a Total Debt to Total Equity ratio set at 0.41. Additionally, SAVA Total Debt to Total Capital is recorded at 0.41, with Total Debt to Total Assets ending up at 0.38.

Reflecting on the efficiency of the workforce at the company, Cassava Sciences Inc. [SAVA] managed to generate an average of -$514,556 per employee.Cassava Sciences Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 21.50 and a Current Ratio set at 21.50.

Earnings per share (EPS) analysis for Cassava Sciences Inc. [SAVA] stock

With the latest financial reports released by the company, Cassava Sciences Inc. posted -0.04/share EPS, while the average EPS was predicted by analysts to be reported at -0.13/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 69.20%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for SAVA.

Cassava Sciences Inc. [SAVA]: Insider Ownership positions

There are presently around $52 million, or 27.80% of SAVA stock, in the hands of institutional investors. The top three institutional holders of SAVA stocks are: BLACKROCK INC. with ownership of 1,445,297, which is approximately -1.518% of the company’s market cap and around 7.90% of the total institutional ownership; VANGUARD GROUP INC, holding 1,273,401 shares of the stock with an approximate value of $9.8 million in SAVA stocks shares; and BLEICHROEDER LP, currently with $5.27 million in SAVA stock with ownership of nearly -34.84% of the company’s market capitalization.

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Positions in Cassava Sciences Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 40 institutional holders increased their position in Cassava Sciences Inc. [NASDAQ:SAVA] by around 1,674,912 shares. Additionally, 20 investors decreased positions by around 854,864 shares, while 12 investors held positions by with 4,287,230 shares. The mentioned changes placed institutional holdings at 6,817,006 shares, according to the latest SEC report filing. SAVA stock had 21 new institutional investments in for a total of 1,120,699 shares, while 5 institutional investors sold positions of 78,397 shares during the same period.

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