Cassava Sciences Inc. (NASDAQ:SAVA) price on Thursday, March 03, fall -8.64% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $37.11.
A look at the stock’s price movement, the close in the last trading session was $40.62, moving within a range at $36.53 and $40.39. The beta value (5-Year monthly) was 0.50. Turning to its 52-week performance, $146.16 and $31.44 were the 52-week high and 52-week low respectively. Overall, SAVA moved -19.34% over the past month.
Cassava Sciences Inc.’s market cap currently stands at around $1.47 billion, with investors looking forward to this quarter’s earnings report slated for Mar 21, 2022 – Mar 25, 2022. Analysts project the company’s earnings per share (EPS) to be -$0.33, which has seen fiscal year 2021 EPS growth forecast to increase to -$0.8 and about -$0.6 for fiscal year 2022. Per the data, EPS growth is expected to be -233.30% for 2022 and 25.00% for the next financial year.
Revisions could be used as tool to get short term price movement insight, and for the company that in the past seven days was no upward and no downward review(s). Turning to the stock’s technical picture we see that short term indicators suggest on average that SAVA is a 50% Sell. On the other hand, the stock is on average a 100% Sell as suggested by medium term indicators while long term indicators are putting the stock in 100% Sell category.
4 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 0 analyst(s) rate the stock as a Hold, 4 recommend SAVA as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
SAVA’s current price about -18.50% and -16.59% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 36.69, while 7-day volatility ratio is 7.54% and 9.25% in the 30-day chart. Further, Cassava Sciences Inc. (SAVA) has a beta value of 0.61, and an average true range (ATR) of 3.99.
In the market, a comparison of Cassava Sciences Inc. (SAVA) and its peers suggest the former has performed considerably weaker. Data shows SAVA’s intraday price has changed -8.64% in last session and -16.57% over the past year. Elsewhere, the overall performance for the S&P 500 and Dow Jones Industrial shows that the indexes are down -0.53% and -0.29% respectively in the last trading.
If we refocus on Cassava Sciences Inc. (NASDAQ:SAVA), historical trading data shows that trading volumes averaged 1.07 million over the past 10 days and 2.49 million over the past 3 months. The company’s latest data on shares outstanding shows there are 39.96 million shares.
The 0.20% of Cassava Sciences Inc.’s shares are in the hands of company insiders while institutional holders own 28.60% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 12.19 million on Dec 14, 2021, giving us a short ratio of 3.51. The data shows that as of Dec 14, 2021 short interest in Cassava Sciences Inc. (SAVA) stood at 30.45% of shares outstanding, with shares short rising to 8.38 million registered in Nov 14, 2021. Current price change has pushed the stock -15.08% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the SAVA stock continues to rise going into the next quarter.