Investing in Cassava Sciences Inc. (SAVA) Is Getting More Attractive


In a filing, Cassava Sciences Inc. revealed its Chief Clinical Dev. Officer Kupiec James William acquired Company’s shares for reported $61100.0 on Aug 23. In the deal valued at $24.44 per share,2,500 shares were bought. As a result of this transaction, Kupiec James William now holds 2,500 shares worth roughly $ 88175.00000000001.

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Then, Barry Richard bought 36,159 shares, generating $860,223 in total proceeds. Upon buying the shares at $23.79, the Director now owns 186,159 shares.

Before that, Schoen Eric bought 2,500 shares. Cassava Sciences Inc. shares valued at $49,875 were divested by the Chief Financial Officer at a price of $19.95 per share. As a result of the transaction, Schoen Eric now holds 19,800 shares, worth roughly $0.7 million.

Cantor Fitzgerald downgraded its Cassava Sciences Inc. [SAVA] rating to a Neutral from a an Overweight in a research note published on Friday. PT values the company’s stock at a premium of 64.73 to its Friday 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 Friday, Cassava Sciences Inc. [NASDAQ:SAVA] saw its stock jump 3.10% to $35.27. On the same session, the stock had its day’s lowest price of $33.2049, but rose to a high of $35.38. Over the last five days, the stock has lost -4.05%. Cassava Sciences Inc. shares have fallen nearly -19.29% since the year began. Nevertheless, the stocks have fallen -58.21% over the past one year. While a 52-week high of $100.00 was reached on 02/10/22, a 52-week low of $13.84 was recorded on 07/27/22. SMA at 50 days reached $35.43, while 200 days put it at $31.17. A total of 0.66 million shares were traded, compared to the trading of 2.55 million shares in the previous session.

Levels Of Support And Resistance For SAVA Stock

The 24-hour chart illustrates a support level at 33.86, which if violated will result in even more drops to 32.44. On the upside, there is a resistance level at 36.03. A further resistance level may holdings at 36.79. The Relative Strength Index (RSI) on the 14-day chart is 48.47, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.05, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 47.19%. Stochastics %K at 50.82% indicates the stock is a holding.

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 $81,532,230, while SSgA Funds Management, Inc. reduced -5.11% of its stake to hold $41.82 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 $12.12 million. Charles Schwab Investment Managem owned 267,611 shares of the company at the time of its most recent 13F filing, worth $11.19 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 110.46 percent from its previous closing price of $34.21. 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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