Cassava Sciences Inc. (NASDAQ: SAVA) stock fell -1.37% on Friday to $19.41 against a previous-day closing price of $19.68. With 0.76 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.92 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $19.93 whereas the lowest price it dropped to was $19.25. The 52-week range on SAVA shows that it touched its highest point at $51.59 and its lowest point at $16.55 during that stretch. It currently has a 1-year price target of $99.50. Beta for the stock currently stands at -0.08.
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 down-trending over the past week, with a drop of -8.05%, but this was up by 13.58% over a month. Three-month performance dropped to -22.58% while six-month performance fell -27.44%. The stock lost -41.04% in the past year, while it has lost -34.29% so far this year. A look at the trailing 12-month EPS for SAVA yields -2.19 with Next year EPS estimates of -1.04. For the next quarter, that number is -0.78. This implies an EPS growth rate of -130.80% for this year and 64.00% for next year.
Float and Shares Shorts:
At present, 41.79 million SAVA shares are outstanding with a float of 39.42 million shares on hand for trading. On Aug 30, 2023, short shares totaled 13.34 million, which was 31.80% higher than short shares on Jul 30, 2023. 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 28.98% of SAVA’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 6.38% of SAVA, in contrast to 14.86% held by mutual funds. Shares owned by individuals account for 13.45%. As the largest shareholder in SAVA with 5.85% of the stake, BlackRock Fund Advisors holds 2,456,096 shares worth 2,456,096. A second-largest stockholder of SAVA, The Vanguard Group, Inc., holds 2,138,214 shares, controlling over 5.10% of the firm’s shares. SSgA Funds Management, Inc. is the third largest shareholder in SAVA, holding 952,085 shares or 2.27% stake. With a 2.94% stake in SAVA, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 1,231,881 shares are owned by the mutual fund manager. The iShares Russell 2000 ETF, which owns about 2.13% of SAVA stock, is the second-largest Mutual Fund holder. It holds 892,720 shares valued at 18.72 million. Vanguard Extended Market Index Fu holds 1.29% of the stake in SAVA, owning 543,277 shares worth 11.39 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2023, SAVA reported revenue of $0.00 and operating income of -$19.92M. The EBITDA in the recently reported quarter was -$19.92M and diluted EPS was -$0.48.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for SAVA since 0 analysts follow the stock currently. 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 $75.00, the average target price over the next 12 months is $99.50. Based on these targets, SAVA could surge 538.85% to reach the target high and rise by 286.4% to reach the target low. Reaching the average price target will result in a growth of 412.62% 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.
Summary of Insider Activity:
Insiders traded SAVA stock several times over the past three months with 3 Buys and 0 Sells. In these transactions, 48,477 shares were bought while 0 shares were sold. The number of buy transactions has increased to 18 while that of sell transactions has risen to 4 over the past year. The total number of shares bought during that period was 266,194 while 62,407 shares were sold.