Cassava Sciences Inc. [SAVA] Is Currently 4.56 below its 200 Period Moving Avg: What Does This Mean?


Cassava Sciences Inc. [NASDAQ: SAVA] jumped around 0.94 points on Tuesday, while shares priced at $21.55 at the close of the session, up 4.56%. The company report on April 25, 2022 that Cassava Sciences Invited to Participate in B. Riley Securities’ Neuroscience Conference.

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– Q&A Session at Conference on Wednesday, April 27th at 1:30PM Eastern -.

Cassava Sciences, Inc. (Nasdaq: SAVA), a clinical-stage biotechnology company focused on Alzheimer’s disease, today announced that it has been invited to participate in the B. Riley Securities’ Neuroscience Conference, a virtual event taking place on April 27-28, 2022.

Cassava Sciences Inc. stock is now -50.69% down from its year-to-date (YTD) trading value. SAVA Stock saw the intraday high of $24.50 and lowest of $20.62 per share. The company’s 52-week high price is 146.16, which means current price is +19.26% above from all time high which was touched on 02/10/22.

Compared to the average trading volume of 1.71M shares, SAVA reached a trading volume of 4850950 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus 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 $98.80 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 2.83 The Price to Book ratio for the last quarter was 3.39, with the Price to Cash per share for the same quarter was set at 5.44.

How has SAVA stock performed recently?

Cassava Sciences Inc. [SAVA] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -4.05. With this latest performance, SAVA shares dropped by -46.35% in over the last four-week period, additionally sinking by -54.93% over the last 6 months – not to mention a drop of -51.40% 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 30.30, with the RSI for the last a single of trading hit 31.28, and the three-weeks RSI is set at 32.13 for Cassava Sciences Inc. [SAVA]. The present Moving Average for the last 50 days of trading for this stock 35.25, while it was recorded at 20.01 for the last single week of trading, and 55.50 for the last 200 days.

Cassava Sciences Inc. [SAVA]: Deeper insight into the fundamentals

Return on Equity for this stock declined to -18.71, with Return on Assets sitting at -17.94.

Cassava Sciences Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 19.50 and a Current Ratio set at 19.50.

Insider trade positions for Cassava Sciences Inc. [SAVA]

There are presently around $238 million, or 29.30% of SAVA stock, in the hands of institutional investors. The top three institutional holders of SAVA stocks are: BLACKROCK INC. with ownership of 2,760,978, which is approximately 6.033% of the company’s market cap and around 2.50% of the total institutional ownership; VANGUARD GROUP INC, holding 2,060,819 shares of the stock with an approximate value of $42.47 million in SAVA stocks shares; and STATE STREET CORP, currently with $20.12 million in SAVA stock with ownership of nearly 3.944% of the company’s market capitalization.

Positions in Cassava Sciences Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 91 institutional holders increased their position in Cassava Sciences Inc. [NASDAQ:SAVA] by around 1,765,477 shares. Additionally, 85 investors decreased positions by around 2,054,654 shares, while 35 investors held positions by with 7,725,619 shares. The mentioned changes placed institutional holdings at 11,545,750 shares, according to the latest SEC report filing. SAVA stock had 30 new institutional investments in for a total of 889,563 shares, while 40 institutional investors sold positions of 782,751 shares during the same period.