Cassava Sciences Inc (NASDAQ: SAVA) stock jumped 1.56% on Monday to $22.85 against a previous-day closing price of $22.50. With 0.87 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.3 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $23.79 whereas the lowest price it dropped to was $22.35. The 52-week range on SAVA shows that it touched its highest point at $45.43 and its lowest point at $12.32 during that stretch. It currently has a 1-year price target of $99.50. Beta for the stock currently stands at 0.02.
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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 17.18%, but this was up by 62.98% over a month. Three-month performance surged to 32.62% while six-month performance fell -9.40%. The stock lost -33.88% in the past year, while it has lost -22.65% so far this year. A look at the trailing 12-month EPS for SAVA yields -2.29 with Next year EPS estimates of -0.54. For the next quarter, that number is -0.52. This implies an EPS growth rate of -23.16% for this year and 76.92% for next year.
Float and Shares Shorts:
At present, 41.74 million SAVA shares are outstanding with a float of 39.54 million shares on hand for trading. On Oct 30, 2023, short shares totaled 15.99 million, which was 37.96% higher than short shares on Sep 28, 2023. In addition to Mr. Remi Barbier as the firm’s Founder, Chairman, President & CEO, Mr. Eric J. Schoen serves as its Chief Financial Officer.
Institutional Ownership:
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 16.00% held by mutual funds. Shares owned by individuals account for 15.40%. As the largest shareholder in SAVA with 6.06% of the stake, BlackRock Fund Advisors holds 2,542,142 shares worth 2,542,142. A second-largest stockholder of SAVA, The Vanguard Group, Inc., holds 2,156,341 shares, controlling over 5.14% of the firm’s shares. SSgA Funds Management, Inc. is the third largest shareholder in SAVA, holding 1,025,590 shares or 2.44% stake. With a 2.95% stake in SAVA, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 1,237,880 shares are owned by the mutual fund manager. The iShares Russell 2000 ETF, which owns about 2.20% of SAVA stock, is the second-largest Mutual Fund holder. It holds 923,335 shares valued at 18.61 million. Vanguard Extended Market Index Fu holds 1.34% of the stake in SAVA, owning 563,325 shares worth 11.35 million.
Analysts Ratings:
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 442.67% to reach the target high and rise by 228.23% to reach the target low. Reaching the average price target will result in a growth of 335.45% from current levels.
Dividends & Yield:
In terms of dividends, SAVA has a current ratio of $––, which is $–– over the trailing 12-months, while a dividend of $–– is likely to be paid on average over the next five years. Dividend yield is another indicator that appeals to many investors, and SAVA currently yields $––. In the past year, SAVA’s dividend yield has been $––, but when looking at the stock over the past five years, its yield has been $––. Accordingly, SAVA has a current buyback yield of $0.00. This was $0.00 for the TTM, and it was $– for the past five years.
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 17 while that of sell transactions has risen to 4 over the past year. The total number of shares bought during that period was 256,818 while 62,407 shares were sold.
