In yesterday’s Wall Street session, Cassava Sciences Inc (NASDAQ:SAVA) shares traded at $20.57, up 10.71% from the previous session.
2 analysts cover Cassava Sciences Inc (NASDAQ:SAVA), according to research data. The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $124.00 and a low of $75.00, we find $99.50. Given the previous closing price of $18.58, this indicates a potential upside of 435.52 percent. SAVA stock price is now 14.55% away from the 50-day moving average and -10.77% away from the 200-day moving average. The market capitalization of the company currently stands at $863.32M.
The stock has received a hold rating from 0 analysts and a buy rating from 2. Brokers who have rated the stock have averaged $99.50 as their price target over the next twelve months.
With the price target maintained at $44, B. Riley Securities recently Downgraded its rating from Buy to Neutral for Cassava Sciences Inc (NASDAQ: SAVA).
In other news, ROBERTSON SANFORD, Director bought 30,000 shares of the company’s stock on Aug 23. The stock was bought for $523,500 at an average price of $17.45. Upon completion of the transaction, the Director now directly owns 886,851 shares in the company, valued at $18.24 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 22, Director Barry Richard bought 16,571 shares of the business’s stock. A total of $275,907 was incurred on buying the stock at an average price of $16.65. This leaves the insider owning 293,477 shares of the company worth $6.04 million. Insiders disposed of 62,407 shares of company stock worth roughly $1.28 million over the past 1 year. A total of 6.19% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in SAVA stock. A new stake in Cassava Sciences Inc shares was purchased by GROUP ONE TRADING, L.P. during the first quarter worth $945,000. SQUAREPOINT OPS LLC invested $674,000 in shares of SAVA during the first quarter. In the first quarter, GTS SECURITIES LLC acquired a new stake in Cassava Sciences Inc valued at approximately $624,000. WALLEYE TRADING LLC acquired a new stake in SAVA for approximately $556,000. MARSHALL WACE, LLP purchased a new stake in SAVA valued at around $501,000 in the second quarter. In total, there are 199 active investors with 28.90% ownership of the company’s stock.
On Thursday morning Cassava Sciences Inc (NASDAQ: SAVA) stock kicked off with the opening price of $18.38. During the past 12 months, Cassava Sciences Inc has had a low of $12.32 and a high of $45.43. As of last week, the company has a debt-to-equity ratio of 0.00, a current ratio of 9.75, and a quick ratio of 9.75. The fifty day moving average price for SAVA is $18.03 and a two-hundred day moving average price translates $23.00 for the stock.
The latest earnings results from Cassava Sciences Inc (NASDAQ: SAVA) was released for Jun, 2023.
Cassava Sciences Inc(SAVA) Company Profile
Cassava Sciences, Inc., a clinical stage biotechnology company, develops drugs for neurodegenerative diseases. Its lead therapeutic product candidate is simufilam, a small molecule drug, which is completed Phase 2b clinical trial; and investigational diagnostic product candidate is SavaDx, a blood-based biomarker/diagnostic to detect Alzheimer’s disease. The company was formerly known as Pain Therapeutics, Inc. and changed its name to Cassava Sciences, Inc. in March 2019. The company was incorporated in 1998 and is based in Austin, Texas.
