Cassava Sciences Inc. [SAVA] Is Currently -13.95 below its 200 Period Moving Avg: What Does This Mean?


Cassava Sciences Inc. [NASDAQ: SAVA] loss -13.95% on the last trading session, reaching $18.69 price per share at the time. The company report on July 27, 2022 that Cassava Sciences Responds to Media Reports.

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– In November 2021, Cassava Sciences previously disclosed that certain government agencies had asked for corporate information and at that time, the media widely reported on these prior disclosures.

– No government agency has informed Cassava Sciences that it has found any evidence of research misconduct or any other wrong-doing.

Cassava Sciences Inc. represents 39.96 million in outstanding shares, while the company has a total market value of $772.27 million with the latest information. SAVA stock price has been found in the range of $13.84 to $19.00.

If compared to the average trading volume of 1.11M shares, SAVA reached a trading volume of 13373651 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 $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 2.17 The Price to Book ratio for the last quarter was 3.15, with the Price to Cash per share for the same quarter was set at 5.08.

Trading performance analysis for SAVA stock

Cassava Sciences Inc. [SAVA] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -22.80. With this latest performance, SAVA shares dropped by -39.42% in over the last four-week period, additionally sinking by -53.30% over the last 6 months – not to mention a drop of -85.34% 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 27.83, with the RSI for the last a single of trading hit 18.07, and the three-weeks RSI is set at 34.28 for Cassava Sciences Inc. [SAVA]. The present Moving Average for the last 50 days of trading for this stock 25.71, while it was recorded at 21.73 for the last single week of trading, and 38.22 for the last 200 days.

Cassava Sciences Inc. [SAVA]: A deeper dive into fundamental analysis

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.

An analysis of insider ownership at Cassava Sciences Inc. [SAVA]

There are presently around $196 million, or 26.50% 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 4.50% of the total institutional ownership; VANGUARD GROUP INC, holding 1,974,729 shares of the stock with an approximate value of $36.91 million in SAVA stocks shares; and STATE STREET CORP, currently with $19.7 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 August and at the time of the August reporting period, where 64 institutional holders increased their position in Cassava Sciences Inc. [NASDAQ:SAVA] by around 851,931 shares. Additionally, 87 investors decreased positions by around 1,592,671 shares, while 35 investors held positions by with 8,038,363 shares. The mentioned changes placed institutional holdings at 10,482,965 shares, according to the latest SEC report filing. SAVA stock had 18 new institutional investments in for a total of 489,643 shares, while 32 institutional investors sold positions of 202,462 shares during the same period.