Cassava Sciences Inc (NASDAQ:SAVA) traded at $25.40 at close of the session on Tuesday, April 09, made an upward move of 7.76% on its previous day’s price.
Looking at the stock we see that its previous close was $23.57 and the beta (5Y monthly) reads -0.42 . In terms of its 52-week price range, SAVA has a high of $32.10 and a low of $12.32. The company’s stock has gained about 35.25% over that past 30 days.
Cassava Sciences Inc has a market cap of $1.10 billion and is expected to release its quarterly earnings report on Apr 29, 2024 – May 03, 2024. Estimates by analysts give the company expected earnings per share (EPS) of -$0.46, with the EPS growth for the year raised at -$2.14 for 2024 and -$0.47 for next year. These figures represent 7.80% and 78.00% growth in EPS for the two years respectively.
There have been no upward and no downward revisions for the stock’s EPS in last 7 days, something that reflects the nature of company’s price movement in short term. On the other hand, looking at the outlook for the SAVA stock, short term indicators assign the stock an average of 50% Sell, while medium term indicators assign it an average of 50% Buy. Long term indicators on average place the stock in the category of 100% Buy.
Looking further, we note the current price level is 22.65% off its SMA20 and 14.66% from its 50-day simple moving average. The RSI (14) is pointing at 70.69 while the volatility over the past week is 7.81% and jumps to 6.04% over the past one month. The beta value is -0.40, while the average true range (ATR) is currently pointing at 1.28.
Coming back to Cassava Sciences Inc (NASDAQ:SAVA), we note that the average 3-month trading volume was 665.70K, while that of the preceding 10-day period stands at 0.61 million. Current shares outstanding are 42.24 million.
The insiders hold 7.34% of the company’s shares while institutions hold 32.70%. The data shows that short shares as of Mar 15, 2024, stood at 11.96 million at a short ratio of 16.91. This represents a 27.67% short interest in shares outstanding on Mar 15, 2024. Shares short rose in March from the previous month at 11.76 million. Investors should be excited about this stock as its upside potential is great, with current price pushing the stock 12.84% up in year-to-date price movement.
