Cassava Sciences Inc. (SAVA) receives a Neutral rating from B. Riley Securities


Cassava Sciences Inc.’s recently made public that its Director ROBERTSON SANFORD acquired Company’s shares for reported $0.52 million on Aug 23. In the deal valued at $17.45 per share,30,000 shares were bought. As a result of this transaction, ROBERTSON SANFORD now holds 886,851 shares worth roughly $ 18.66 million.

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Then, Barry Richard bought 16,571 shares, generating $275,907 in total proceeds. Upon buying the shares at $16.65, the Director now owns 293,477 shares.

Before that, Barry Richard bought 1,906 shares. Cassava Sciences Inc. shares valued at $32,021 were divested by the Director at a price of $16.80 per share. As a result of the transaction, Barry Richard now holds 276,906 shares, worth roughly $5.83 million.

B. Riley Securities downgraded its Cassava Sciences Inc. [SAVA] rating to a Neutral from a a Buy in a research note published on Friday. PT values the company’s stock at a premium of 52.18 to its Friday closing price.

Price Performance Review of SAVA

On Friday, Cassava Sciences Inc. [NASDAQ:SAVA] saw its stock jump 0.33% to $21.04. On the same session, the stock had its day’s lowest price of $20.2313, but rose to a high of $21.3699. Over the last five days, the stock has gained 15.22%. Cassava Sciences Inc. shares have fallen nearly -28.77% since the year began. Nevertheless, the stocks have fallen -18.23% over the past one year. While a 52-week high of $51.59 was reached on 01/23/23, a 52-week low of $16.55 was recorded on 08/22/23. SMA at 50 days reached $20.69, while 200 days put it at $26.17. A total of 0.73 million shares were traded, compared to the trading of 0.88 million shares in the previous session.

Levels Of Support And Resistance For SAVA Stock

The 24-hour chart illustrates a support level at 20.39, which if violated will result in even more drops to 19.74. On the upside, there is a resistance level at 21.53. A further resistance level may holdings at 22.02. The Relative Strength Index (RSI) on the 14-day chart is 59.54, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 2.55, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 25.23%. Stochastics %K at 78.05% 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 Aug 14, 2023, growing by 1.06 million shares to a total of 12.26 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 11.2 million shares. There was a rise of 8.65%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 31.00% of the overall stock float, the days-to-cover ratio (short ratio) rose to 15.12.


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