Cassava Sciences Inc. [NASDAQ: SAVA] price surged by 14.78 percent to reach at $3.94. The company report on May 5, 2022 that Cassava Sciences Reports First Quarter Financial Results for 2022 and Updates on Phase 3 Clinical Program.
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– $209.7 Million Cash and Cash Equivalents at March 31, 2022 –.
– Over 120 Patients Now Enrolled in Phase 3 Program -.
A sum of 8903067 shares traded at recent session while its average daily volume was at 1.54M shares. Cassava Sciences Inc. shares reached a high of $37.00 and dropped to a low of $26.6401 until finishing in the latest session at $30.60.
The one-year SAVA stock forecast points to a potential upside of 57.79. The average equity rating for SAVA stock is currently 2.50, trading closer to a bullish pattern in the stock market.
Guru’s Opinion on 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 $72.50 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 2.50. 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 2.92 The Price to Book ratio for the last quarter was 5.16, with the Price to Cash per share for the same quarter was set at 5.47.
SAVA Stock Performance Analysis:
Cassava Sciences Inc. [SAVA] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 12.38. With this latest performance, SAVA shares gained by 46.62% in over the last four-week period, additionally sinking by -43.98% over the last 6 months – not to mention a drop of -46.37% 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 65.92, with the RSI for the last a single of trading hit 73.26, and the three-weeks RSI is set at 59.30 for Cassava Sciences Inc. [SAVA]. The present Moving Average for the last 50 days of trading for this stock 26.70, while it was recorded at 26.89 for the last single week of trading, and 45.80 for the last 200 days.
Insight into Cassava Sciences Inc. 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 32.70 and a Current Ratio set at 32.70.
Cassava Sciences Inc. [SAVA] Insider Position Details
There are presently around $280 million, or 26.60% of SAVA stock, in the hands of institutional investors. The top three institutional holders of SAVA stocks are: BLACKROCK INC. with ownership of 2,703,881, which is approximately -2.068% of the company’s market cap and around 4.40% of the total institutional ownership; VANGUARD GROUP INC, holding 1,974,729 shares of the stock with an approximate value of $52.65 million in SAVA stocks shares; and STATE STREET CORP, currently with $28.1 million in SAVA stock with ownership of nearly 7.973% 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 69 institutional holders increased their position in Cassava Sciences Inc. [NASDAQ:SAVA] by around 850,376 shares. Additionally, 84 investors decreased positions by around 1,590,529 shares, while 40 investors held positions by with 8,073,539 shares. The mentioned changes placed institutional holdings at 10,514,444 shares, according to the latest SEC report filing. SAVA stock had 21 new institutional investments in for a total of 487,286 shares, while 30 institutional investors sold positions of 203,151 shares during the same period.