Taking a look at what insiders are doing to gauge the Cassava Sciences Inc. (SAVA)’s direction

The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Cassava Sciences Inc. shares valued at $61,100 were purchased by Kupiec James William on Aug 23. At $24.44 per share, Kupiec James William acquired 2,500 shares. The insider’s holdings grew to 2,500 shares worth approximately $0.13 million following the completion of this transaction.


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Also, Barry Richard purchased 36,159 shares, netting a total of over 860,223 in proceeds. Following the buying of shares at $23.79 each, the insider now holds 186,159 shares.

Before that, Schoen Eric had added 2,500 shares to its account. In a trade valued at $49,875, the Chief Financial Officer bought Cassava Sciences Inc. shares for $19.95 each. Upon closing the transaction, the insider’s holdings increased to 2,500 shares, worth approximately $1.01 million.

As published in a research note from Cantor Fitzgerald on July 15, 2021, Cassava Sciences Inc. [SAVA] has been rated down from an Overweight to a Neutral and the price target has been revised to $100. This represents a 48.94% premium over Thursday’s closing price. Analysts at Maxim Group resumed the stock at ‘”a Buy”‘ outlook in a report released in early July. As of April 27, 2021, B. Riley Securities has initiated its “Buy” rating for SAVA. Earlier on February 16, 2021, H.C. Wainwright resumed its rating. Their recommendation was “a Buy” for SAVA stock.

Analyzing SAVA’s Price Performance

On Thursday, Cassava Sciences Inc. [NASDAQ: SAVA] rose 35.65% to $51.06. The stock’s lowest price that day was $36.8801, but it reached a high of $51.59 in the same session. During the last five days, there has been a surge of approximately 61.68%. Over the course of the year, Cassava Sciences Inc. shares have jumped approximately 16.84%. Shares of the company reached a 52-week high of $62.49 on 02/10/22 and a 52-week low of $13.84 on 07/27/22. A 50-day SMA is recorded $25.40, while a 200-day SMA reached $32.31. Nevertheless, trading volume fell to 23.58 million shares from 7.21 million shares the previous day.

Support And Resistance Levels for Cassava Sciences Inc. (SAVA)

According to the 24-hour chart, there is a support level at 41.43, which, if violated, would cause prices to drop to 31.80. In the upper region, resistance lies at 56.14. The next price resistance is at 61.22. RSI (Relative Strength Index) is 79.72 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 9.50, which suggests the price will increase in the coming days. Percent R is at 1.95%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.

Is Cassava Sciences Inc. subject to short interest?

Stocks of Cassava Sciences Inc. saw a sharp steep in short interest on Jul 14, 2022 dropping by -0.79 million shares to 10.18 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 10.97 million shares. A decline of -7.76% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 12.65 of the overall float, the days-to-cover ratio (short ratio) decline to 12.65.

Which companies own the most shares of Cassava Sciences Inc. (SAVA)?

According to BlackRock Fund Advisors filings, the company currently owns 2,298,375 shares, which is about 5.73% of the total SAVA shares outstanding. The investor’s shares have appreciated by 27,995 from its previous 13-F filing of 2270380.0 shares. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $50,163,182. SSgA Funds Management, Inc. reduced a -5.11% interest valued at $25.73 million while Geode Capital Management LLC purchased a 27,695 stake. A total of -6,146 shares of Cassava Sciences Inc. were bought by Northern Trust Investments, Inc. during the quarter, and 289,841 by Norges Bank Investment Management. In its current portfolio, Charles Schwab Investment Managem holds 267,611 shares valued at $6.89 million.

In terms of Cassava Sciences Inc. share price expectations, FactSet research, analysts set an average price target of $69.00 in the next 12 months, up nearly 91.29% from the previous closing price of $37.64. Analysts anticipate Cassava Sciences Inc. stock to reach $124.00 by 2022, with the lowest price target being $8.00. In spite of this, 4 analysts ranked Cassava Sciences Inc. stock as an Overweight at the end of 2022. On October 23, 2020, Cantor Fitzgerald assigned a price target of “an Overweight” to the stock and initiated coverage with a $24.

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