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 $1,990,630 were purchased by Barry Richard on Mar 07. At $25.76 per share, Barry Richard acquired 77,276 shares. The insider’s holdings grew to 275,000 shares worth approximately $6.66 million following the completion of this transaction.
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Also, Barry Richard purchased 11,565 shares, netting a total of over 302,193 in proceeds. Following the buying of shares at $26.13 each, the insider now holds 197,724 shares.
Before that, Barry Richard had added 36,159 shares to its account. In a trade valued at $860,223, the Director bought Cassava Sciences Inc. shares for $23.79 each. Upon closing the transaction, the insider’s holdings increased to 36,159 shares, worth approximately $4.51 million.
Analyzing SAVA Stock Performance
On Thursday, Cassava Sciences Inc. [NASDAQ: SAVA] plunged -4.16% to $24.20. The stock’s lowest price that day was $23.58, but it reached a high of $25.45 in the same session. During the last five days, there has been a drop of approximately -1.75%. Over the course of the year, Cassava Sciences Inc. shares have dropped approximately -18.08%. Shares of the company reached a 52-week high of $38.53 on 01/23/23 and a 52-week low of $21.44 on 04/26/23. A 50-day SMA is recorded $24.21, while a 200-day SMA reached $30.18. Nevertheless, trading volume fell to 0.8 million shares from 0.34 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 23.37, which, if violated, would cause prices to drop to 22.54. In the upper region, resistance lies at 25.24. The next price resistance is at 26.28. RSI (Relative Strength Index) is 47.38 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.57, which suggests the price will decrease in the coming days. Percent R is at 67.42%, indicating low price movement. Stochastics %K at holding 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 Apr 27, 2023 dropping by -0.52 million shares to 10.98 million. Data from Yahoo Finance shows that the short interest on Mar 30, 2023 was 11.5 million shares. A decline of -4.74% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 21.53 of the overall float, the days-to-cover ratio (short ratio) decline to 21.53.
Which companies own the most shares of Cassava Sciences Inc. (SAVA)?
According to BlackRock Fund Advisors filings, the company currently owns 2,343,214 shares, which is about 5.61% of the total SAVA shares outstanding. The investor’s shares have appreciated by 45,405 from its previous 13-F filing of 2297809.0 shares. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $49,491,294. SSgA Funds Management, Inc. acquire a 6.53% interest valued at $24.59 million while Geode Capital Management LLC purchased a 50,164 stake. A total of -614 shares of Cassava Sciences Inc. were bought by Gallacher Capital Management LLC during the quarter, and 6,237 were bought by Northern Trust Investments, Inc. In its current portfolio, Norges Bank Investment Management holds 330,042 shares valued at $7.66 million.
In terms of Cassava Sciences Inc. share price expectations, FactSet research, analysts set an average price target of $112.00 in the next 12 months, up nearly 343.56% from the previous closing price of $25.25. Analysts anticipate Cassava Sciences Inc. stock to reach $124.00 by 2023, with the lowest price target being $100.00. In spite of this, 2 analysts ranked Cassava Sciences Inc. stock as a Buy at the end of 2023.