Cassava Sciences Inc. [NASDAQ: SAVA] gained 6.26% or 7.51 points to close at $127.50 with a heavy trading volume of 3596651 shares. The company report on July 26, 2021 that Cassava Sciences Announces Positive Data with SavaDx from a Randomized Controlled Phase 2b Study of Simufilam.
SavaDx Detected Significant Changes in Plasma Levels of Altered Filamin A in Patients with Alzheimer’s Disease Before and After Simufilam Treatment.
Simufilam 100 mg and 50 mg Reduced Plasma Levels of Altered Filamin A in Alzheimer’s Patients 48% (p=0.003) and 44% (p=0.02) Respectively.
It opened the trading session at $119.56, the shares rose to $128.2232 and dropped to $113.70, the range by which the price of stock traded the whole day. The daily chart for SAVA points out that the company has recorded 556.20% gains over the past six months. However, it is still -4486.33% lower than its most recent low trading price.
If we look at the average trading volume of 2.61M shares, SAVA reached to a volume of 3596651 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying 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 $94.20 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.
Cantor Fitzgerald have made an estimate for Cassava Sciences Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on July 15, 2021. While these analysts kept the previous recommendation, Maxim Group dropped their target price from $80 to $190. The new note on the price target was released on July 07, 2021, representing the official price target for Cassava Sciences Inc. stock. Previously, the target price had yet another raise to $78, while B. Riley Securities analysts kept a Buy rating on SAVA stock. On February 16, 2021, analysts increased their price target for SAVA shares from 20 to 66.
The Average True Range (ATR) for Cassava Sciences Inc. is set at 12.62 The Price to Book ratio for the last quarter was 17.11, with the Price to Cash per share for the same quarter was set at 6.87.
Trading performance analysis for SAVA stock
Cassava Sciences Inc. [SAVA] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 40.37. With this latest performance, SAVA shares gained by 62.61% in over the last four-week period, additionally plugging by 556.20% over the last 6 months – not to mention a rise of 3574.35% 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 68.77, with the RSI for the last a single of trading hit 70.75, and the three-weeks RSI is set at 67.72 for Cassava Sciences Inc. [SAVA]. The present Moving Average for the last 50 days of trading for this stock 79.01, while it was recorded at 123.02 for the last single week of trading, and 40.48 for the last 200 days.
Cassava Sciences Inc. [SAVA]: A deeper dive into fundamental analysis
Return on Total Capital for SAVA is now -19.24, given the latest momentum, and Return on Invested Capital for the company is -11.06. Return on Equity for this stock declined to -11.08, with Return on Assets sitting at -10.76. When it comes to the capital structure of this company, Cassava Sciences Inc. [SAVA] has a Total Debt to Total Equity ratio set at 0.32. Additionally, SAVA Total Debt to Total Capital is recorded at 0.32, with Total Debt to Total Assets ending up at 0.31. Long-Term Debt to Equity for the company is recorded at 0.25, with the Long-Term Debt to Total Capital now at 0.25.
Reflecting on the efficiency of the workforce at the company, Cassava Sciences Inc. [SAVA] managed to generate an average of -$575,818 per employee.Cassava Sciences Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 107.10 and a Current Ratio set at 107.10.
An analysis of insider ownership at Cassava Sciences Inc. [SAVA]
There are presently around $1,358 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 2,404,922, which is approximately 22.03% of the company’s market cap and around 5.20% of the total institutional ownership; VANGUARD GROUP INC, holding 1,774,178 shares of the stock with an approximate value of $226.21 million in SAVA stocks shares; and STATE STREET CORP, currently with $87.5 million in SAVA stock with ownership of nearly 53.006% of the company’s market capitalization.
Positions in Cassava Sciences Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 97 institutional holders increased their position in Cassava Sciences Inc. [NASDAQ:SAVA] by around 3,294,647 shares. Additionally, 39 investors decreased positions by around 2,597,006 shares, while 5 investors held positions by with 4,762,057 shares. The mentioned changes placed institutional holdings at 10,653,710 shares, according to the latest SEC report filing. SAVA stock had 56 new institutional investments in for a total of 1,071,493 shares, while 10 institutional investors sold positions of 1,543,976 shares during the same period.