Cassava Sciences Inc. (NASDAQ:SAVA) finished Friday with a subtraction of -$0.29 to close at $17.92, a downside of -1.59 percent. An average of 1,016,500 shares of common stock have been traded in the last five days. There was a fall of -$2.25 in the past week, and it reached a new high 6 times over the past 12 months. The last 20 days have seen an average of 776,925 shares traded, while the 50-day average volume stands at 841,166.
SAVA stock has decreased by -18.25% in the last month. The company shares reached their 1-month lowest point of $17.85 on 08/11/23. With the stock rallying to its 52-week high on 01/23/23, shares of the company touched a low of $17.95 and a high of $51.59 in 52 weeks. It has reached a new high 4 times so far this year and lost -39.34% or -$11.62 in price. In spite of this, the price is down -65.26% from the 52-week high.
Valuation Metrics
Cassava Sciences Inc. (SAVA) stock’s beta is -0.05. Other valuation ratios to consider include the price-to-book (PB) ratio at 3.66.
Financial Health
The quick ratio of Cassava Sciences Inc. for the three months ended June 29 was 14.00, and the current ratio was 14.00, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.00 and a total debt to equity ratio of 0.00 for the quarter ending June 29.
For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Cassava Sciences Inc.’s return on assets was -34.40%.
Earnings Surprise
The company posted a net income of -$26.38 million in the quarter, while revenues of -$24.27 million were grew 26.72%. The analyst consensus anticipated Cassava Sciences Inc.’s latest quarter earnings to come in at -$0.59 per share, but it turned out to be -$0.63, a -6.80% surprise. At the end of the quarter ending June 29, Cassava Sciences Inc.’s stock balance sheet showed total liabilities of 17.89 million. Shareholders own equity worth $41.97 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Cassava Sciences Inc. (SAVA) price momentum. RSI 9-day as of the close on 11 August was 21.19%, suggesting the stock is oversold, with historical volatility in this time frame at 22.36%.
As of today, SAVA’s price is $18.50 -11.18% or -$2.25 from its 5-day moving average. SAVA is currently trading -17.15% lower than its 20-day SMA and -31.47% lower than its 100-day SMA. However, the stock’s current price level is -21.09% below the SMA50 and -47.40% below the SMA200.
The stochastic %K and %D were 5.23% and 7.52%, respectively, and the average true range (ATR) was 0.80. With the 14-day stochastic at 1.65% and the average true range at 0.86, the RSI (14) stands at 27.25%. The stock has reached -1.33 on the 9-day MACD Oscillator while the 14-day reading was at -1.74.
Analyst Ratings
B. Riley Securities downgraded Cassava Sciences Inc. (NASDAQ: SAVA) to a a Neutral rating in its most recent analyst report. Previously, the stock was rated as a Buy. The consensus rating for Cassava Sciences Inc. (SAVA) among analysts is Buy. According to current brokerage recommendations, 0 brokerage firms advise that investors sell SAVA, while 0 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 2 others rate it as a “buy”.
What is SAVA’s price target for the next 12 months?
Analysts predict a range of price targets between $75.00 and $124.00, with a median target of $99.50. Taking a look at these predictions, the average price target given by analysts for Cassava Sciences Inc. (SAVA) stock is $99.50.
