Cassava Sciences Inc. [NASDAQ: SAVA] closed the trading session at $51.83 on 02/16/21. The day’s price range saw the stock hit a low of $49.38, while the highest price level was $59.39. The company report on February 13, 2021 that Cassava Sciences Announces Closing of $200 Million Registered Direct Offering.
Cassava Sciences, Inc. (Nasdaq: SAVA) (the “Company” or “Cassava Sciences”), a clinical-stage biotechnology company focused on Alzheimer’s disease, announced the closing of its previously announced registered direct offering of 4,081,633 shares of its common stock, at a purchase price per share of $49.00, for gross proceeds of approximately $200.0 million.
H.C. Wainwright & Co. acted as the exclusive placement agent for the offering.
The stocks have a year to date performance of 659.97 percent and weekly performance of -14.57 percent. The stock has been moved at 1433.43 percent over the last six months. The stock has performed 394.56 percent around the most recent 30 days and changed 363.60 percent over the most recent 3-months.
If compared to the average trading volume of 6.63M shares, SAVA reached to a volume of 12364880 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]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for SAVA shares is $19.33 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on SAVA stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
H.C. Wainwright have made an estimate for Cassava Sciences Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on February 16, 2021. While these analysts kept the previous recommendation, Cantor Fitzgerald raised their target price to Overweight. The new note on the price target was released on October 23, 2020, representing the official price target for Cassava Sciences Inc. stock. Previously, the target price had yet another raise to $20, while H.C. Wainwright analysts kept a Buy rating on SAVA stock.
The Average True Range (ATR) for Cassava Sciences Inc. is set at 11.60 The Price to Book ratio for the last quarter was 53.99, with the Price to Cash per share for the same quarter was set at 0.66.
SAVA stock trade performance evaluation
Cassava Sciences Inc. [SAVA] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -14.57. With this latest performance, SAVA shares gained by 394.56% in over the last four-week period, additionally plugging by 1433.43% over the last 6 months – not to mention a rise of 613.91% 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 59.28, with the RSI for the last a single of trading hit 57.43, and the three-weeks RSI is set at 60.30 for Cassava Sciences Inc. [SAVA]. The present Moving Average for the last 50 days of trading for this stock 19.47, while it was recorded at 50.60 for the last single week of trading, and 9.22 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 $520 million, or 27.20% of SAVA stock, in the hands of institutional investors. The top three institutional holders of SAVA stocks are: BLACKROCK INC. with ownership of 1,970,769, which is approximately 36.357% of the company’s market cap and around 5.80% of the total institutional ownership; VANGUARD GROUP INC, holding 1,583,863 shares of the stock with an approximate value of $82.09 million in SAVA stocks shares; and CAAS CAPITAL MANAGEMENT LP, currently with $35.62 million in SAVA stock with ownership of nearly New of the company’s market capitalization.
Positions in Cassava Sciences Inc. stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 53 institutional holders increased their position in Cassava Sciences Inc. [NASDAQ:SAVA] by around 4,475,441 shares. Additionally, 22 investors decreased positions by around 1,345,102 shares, while 9 investors held positions by with 4,203,364 shares. The mentioned changes placed institutional holdings at 10,023,907 shares, according to the latest SEC report filing. SAVA stock had 18 new institutional investments in for a total of 1,669,768 shares, while 8 institutional investors sold positions of 349,432 shares during the same period.