Cassava Sciences Inc. (NASDAQ: SAVA) stock jumped 5.38% on Friday to $34.84 against a previous-day closing price of $33.06. With 1.17 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.24 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $35.40 whereas the lowest price it dropped to was $32.60. The 52-week range on SAVA shows that it touched its highest point at $62.49 and its lowest point at $13.84 during that stretch. It currently has a 1-year price target of $89.33. Beta for the stock currently stands at -0.02.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of SAVA was up-trending over the past week, with a rise of 2.29%, but this was down by -8.56% over a month. Three-month performance surged to 4.69% while six-month performance rose 47.38%. The stock lost -15.38% in the past year, while it has gained 17.94% so far this year. A look at the trailing 12-month EPS for SAVA yields -1.78 with Next year EPS estimates of -1.48. For the next quarter, that number is -0.56. This implies an EPS growth rate of -238.70% for this year and 25.60% for next year.
Float and Shares Shorts:
At present, 40.05 million SAVA shares are outstanding with a float of 39.45 million shares on hand for trading. On Oct 13, 2022, short shares totaled 9.63 million, which was 24.03% higher than short shares on Sep 14, 2022. In addition to Mr. Remi Barbier as the firm’s Founder, Chairman, Pres & CEO, Mr. Eric J. Schoen serves as its Chief Financial Officer.
Through their ownership of 25.44% of SAVA’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 6.12% of SAVA, in contrast to 15.29% held by mutual funds. Shares owned by individuals account for 11.52%. As the largest shareholder in SAVA with 5.32% of the stake, BlackRock Fund Advisors holds 2,220,446 shares worth 2,220,446. A second-largest stockholder of SAVA, The Vanguard Group, Inc., holds 2,010,805 shares, controlling over 4.82% of the firm’s shares. SSgA Funds Management, Inc. is the third largest shareholder in SAVA, holding 997,249 shares or 2.39% stake. With a 2.96% stake in SAVA, the Vanguard Total Stock Market Index is the largest stakeholder. A total of 1,233,334 shares are owned by the mutual fund manager. The iShares Russell 2000 ETF, which owns about 2.04% of SAVA stock, is the second-largest Mutual Fund holder. It holds 851,245 shares valued at 25.15 million. Vanguard Extended Market Index Fu holds 1.23% of the stake in SAVA, owning 514,350 shares worth 15.19 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for SAVA since 3 analysts follow the stock currently. There are 2 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 1 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With SAVA analysts setting a high price target of $124.00 and a low target of $44.00, the average target price over the next 12 months is $89.33. Based on these targets, SAVA could surge 255.91% to reach the target high and rise by 26.29% to reach the target low. Reaching the average price target will result in a growth of 156.4% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. SAVA will report FY 2022 earnings on 02/27/2024. Analysts have provided yearly estimates in a range of -$1.93 being high and -$2.08 being low. For SAVA, this leads to a yearly average estimate of -$1.99. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Cassava Sciences Inc. surprised analysts by -$0.03 when it reported -$0.51 EPS against a consensus estimate of -$0.48. The surprise factor in the prior quarter was -$0.05. Based on analyst estimates, the high estimate for the next quarter is -$0.51 and the low estimate is -$0.65. The average estimate for the next quarter is thus -$0.56.
Summary of Insider Activity:
Insiders traded SAVA stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 14 while that of sell transactions has risen to 6 over the past year. The total number of shares bought during that period was 308,319 while 84,313 shares were sold.