An Analysis of Cassava Sciences Inc. (SAVA)’s Potential Price Growth

Cassava Sciences Inc.’s recently made public that its Chief Financial Officer Schoen Eric acquired Company’s shares for reported $49875.0 on Aug 12. In the deal valued at $19.95 per share,2,500 shares were bought. As a result of this transaction, Schoen Eric now holds 19,800 shares worth roughly $ 0.4 million.

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Then, ROBERTSON SANFORD bought 100,000 shares, generating $2,069,000 in total proceeds. Upon buying the shares at $20.69, the Director now owns 1,024,765 shares.

Cantor Fitzgerald downgraded its Cassava Sciences Inc. [SAVA] rating to a Neutral from a an Overweight in a research note published on Tuesday. PT values the company’s stock at a premium of 79.79 to its Tuesday closing price. A number of analysts have revised their coverage, including Maxim Group’s analysts, who remained covering the stock and in early July has reiterated a ‘”a Buy”‘ rating for it. B. Riley Securities began covering SAVA with “Buy” recommendation on April 27, 2021. H.C. Wainwright maintained its rating on February 16, 2021. It rated SAVA as “a Buy”.

Price Performance Review of SAVA

On Tuesday, Cassava Sciences Inc. [NASDAQ:SAVA] saw its stock jump 0.10% to $20.21. On the same session, the stock had its day’s lowest price of $19.4657, but rose to a high of $20.86. Over the last five days, the stock has lost 0.00%. Cassava Sciences Inc. shares have fallen nearly -53.75% since the year began. Nevertheless, the stocks have fallen -82.68% over the past one year. While a 52-week high of $124.79 was reached on 02/10/22, a 52-week low of $13.84 was recorded on 07/27/22. SMA at 50 days reached $23.79, while 200 days put it at $36.13. A total of 1.49 million shares were traded, compared to the trading of 1.35 million shares in the previous session.

Levels Of Support And Resistance For SAVA Stock

The 24-hour chart illustrates a support level at 19.50, which if violated will result in even more drops to 18.78. On the upside, there is a resistance level at 20.89. A further resistance level may holdings at 21.57. The Relative Strength Index (RSI) on the 14-day chart is 46.42, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.43, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 22.56%. Stochastics %K at 81.04% indicates the stock is a selling.

How much short interest is there in Cassava Sciences Inc.?

A steep rise in short interest was recorded in Cassava Sciences Inc. stocks on Jul 14, 2022, dropping by -0.79 million shares to a total of 10.18 million shares. Yahoo Finance data shows the prior-month short interest on Jun 14, 2022 was 10.97 million shares. There was a decline of -7.76%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 26.91% of the overall stock float, the days-to-cover ratio (short ratio) fell to 12.65.

Cassava Sciences Inc. [SAVA] – Who Are The Largest Shareholders?

In filings from BlackRock Fund Advisors, it is revealed that the company now owns 2,298,375 shares, or roughly 5.73% of the outstanding SAVA shares. In other words, the investor’s shares have risen by 27,995 from its previous 13-F filing of 2270380.0. Additionally, The Vanguard Group, Inc. increased 4.06% of its stake after which the total value it holdings stand at $31,836,952, while SSgA Funds Management, Inc. added 7.97% of its stake to hold $17.21 million in the firm. Over the last quarter, Geode Capital Management LLC purchased 27,695 shares of Cassava Sciences Inc., while Northern Trust Investments, Inc. bought -6,146 shares. At present, Norges Bank Investment Management is holding 289,841 shares valued at $4.73 million. Charles Schwab Investment Managem owned 273,962 shares of the company at the time of its most recent 13F filing, worth $4.47 million.

According to FactSet, Cassava Sciences Inc.’s share price will average $69.00 in the next year, based on opinions of analysts polled by the firm. This is up nearly 256.61 percent from its previous closing price of $20.19. Analysts expect Cassava Sciences Inc. stock to reach the higher price of $124.00, while the lowest price estimate is $8.00. However, 4 analysts have rated SAVA stock as an Overweight in their predictions for 2022. The most recent change occurred on October 23, 2020 when Cantor Fitzgerald began covering the stock and recommended ‘”an Overweight”‘ rating along with a $24 price target.


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