The stock of Cassava Sciences Inc. (NASDAQ:SAVA) increased by $1.73 on Tuesday to finish at $21.24, up 8.87 percent. The last five days have seen an average of 1,389,800 shares of common stock traded. 4 times new highs were reached in the current year, with a fall of -$8.30. The average number of shares traded over the last 20 days was 982,345, while the average volume over the last 50 days totaled 945,420.
SAVA stock dropped -3.37% since last month. On 08/22/23, the company’s shares reached a one-month low of $16.55. The stock touched a high of $51.59 on 01/23/23, after rallying from a low of $16.55 in 52 weeks. The price of SAVA stock has declined by -28.10% or -$8.30 this year, reaching a new high 4 times. Still, the stock price is down -58.83% from the 52-week high.
Insider Transactions
SAVA stock investors should be aware that Cassava Sciences Inc. (SAVA) stock had its last reported insider trading activity 7 days ago on Aug 23. On Aug 23, Director ROBERTSON SANFORD acquired 30,000 shares at $17.45 each. This transaction resulted in the insider spending $523,500. On Aug 22, Barry Richard added 16,571 shares at a price of US$16.65. After the transaction, the insider now owns 293,477 shares. Director Barry Richard had earlier bought 1,906 shares on Aug 21 for $16.80 a share. The transaction was completed for $32,021.
Financial Health
For the three months ended June 29, Cassava Sciences Inc.’s quick ratio was 9.80, while its current ratio was 9.80, indicating its ability to pay off its debt.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. SAVA’s return on assets (ROA) during the last 12 months has been -42.00%. In the meantime, the return on equity (ROE) for the last 12 months was -44.50%.
Earnings Surprise
According to Cassava Sciences Inc.’s quarterly financial report for the quarter that ended June 29. It was predicted that Cassava Sciences Inc.’s quarterly earnings would be -$0.63, but it ended up being -$0.59, beating the consensus by -6.80%. Equity owned by shareholders amounts to $41.97 million.
Technical Picture
Here’s a quick look at Cassava Sciences Inc.’s (SAVA) price momentum from a technical perspective. As of 29 August, the RSI 9-day stood at 73.35%, suggesting the stock is Overbought, with a 52.31% historical volatility rate.
The stochastic %K and %D were 83.98% and 65.40% respectively, while the average true range (ATR) was 1.13. Based on the 14-day stochastic reading of 95.33%, the RSI (14) reading is 62.78%. On the 9-day MACD Oscillator, the stock is at 1.52, and the 14-day reading is at 1.64.
Analyst Ratings
Cassava Sciences Inc. (NASDAQ: SAVA) was downgraded by B. Riley Securities to a a Neutral rating in its latest research report. The stock was previously rated as a a Buy. Analysts have assigned Cassava Sciences Inc. (SAVA) an Buy rating. SAVA is a stock that is recommended for selling by 0 brokerage firms, while 0 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 0 rates it overweight and 2 others recommend it as a buy.
What is SAVA’s price target for the next 12 months?
The current consensus forecast for the stock is between $75.00 and $124.00, with a median target price of $99.50. In analyzing these forecasts, the average price target given by analysts for Cassava Sciences Inc. (SAVA) is $99.50.
