Cassava Sciences Inc. (SAVA): A Technical View

At the last check on Friday, Cassava Sciences Inc.’s (NASDAQ:SAVA) stock was down -$0.23, moving down -1.34 percent to $16.93. The average number of shares traded per day over the past five days has been 2,282,973 shares. 2 times new highs have been achieved over the past 5 days, with a $0.57 gain in that time frame. In the last twenty days, the average volume was 1,942,273, while in the previous 50 days, it was 1,470,671.

Since last month, SAVA stock retreated -29.76%. Shares of the company fell to $13.84 on 07/27/22, the lowest level in the past month. A 52-week high of $126.51 was reached on 02/10/22 after having rallying from a 52-week low of $13.84. Since the beginning of this year, SAVA’s stock price has dropped by -60.73% or -$26.80, and marked a new high 3 times. However, the stock has declined by -86.62% since its 52-week high.


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Financial Health

In the three months ended June 29, Cassava Sciences Inc.’s quick ratio stood at 32.70, while its current ratio was 32.70, showing that the company is able to pay off its debt.

While analysts expected Cassava Sciences Inc. to report -$0.43 quarterly earnings, the actual figure was -$0.48 per share, beating the consensus estimate by -11.60%. The liabilities of Cassava Sciences Inc. were 7.1 million at the end of its most recent quarter ended June 29, and its total debt was $0.19 million. The value of shareholders’ equity is $40.08 million.

Technical Picture

This quick technical analysis looks at Cassava Sciences Inc.’s (SAVA) price momentum. With a historical volatility rate of 112.79%, the RSI 9-day stood at 29.71% on 04 August.

With respect to its five-day moving average, the current Cassava Sciences Inc. price is up by +3.49% percent or $0.57. At present, SAVA shares trade -30.40% below its 20-day simple moving average and -48.16% percent below its 100-day simple moving average. However, the stock is currently trading approximately -32.56% below its SMA50 and -64.42% below its SMA200.

Stochastic coefficient K was 31.43% and Stochastic coefficient D was 36.88%, while ATR was 2.08. Given the Stochastic reading of 26.13% for the 14-day period, the RSI (14) reading has been calculated as 32.34%. As of today, the MACD Oscillator reading stands at -0.64, while the 14-day reading stands at -2.50.

Analyst Ratings

Cassava Sciences Inc. downgraded its rating on Cassava Sciences Inc. (NASDAQ: SAVA) to a Neutral in a note to investors on July 15, 2021. The analysts firm previously had an Overweight rating on the stock.Cassava Sciences Inc. (SAVA) has been rated Overweight by analysts. According to 1 brokerage firm, SAVA is a sell, and 0 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 0 analysts rate Cassava Sciences Inc. stock as buy, with 3 recommending it as overweight.

With a median target price of $79.00, the current consensus forecast for the stock is $8.00 – $124.00. Based on these forecasts, analysts predict Cassava Sciences Inc. (SAVA) will achieve an average price target of $72.50.

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