In the last trading session, 1.02 million Cassava Sciences Inc (NASDAQ:SAVA) shares changed hands as the company’s beta touched 0.01. With the company’s per share price at $22.50 changed hands at $0.6 or 2.74% during last session, the market valuation stood at $948.83M. SAVA’s last price was a discount, traded about -101.91% off its 52-week high of $45.43. The share price had its 52-week low at $12.32, which suggests the last value was 45.24% up since then. When we look at Cassava Sciences Inc’s average trading volume, we note the 10-day average is 1.04 million shares, with the 3-month average coming to 1.29 million.
Analysts gave the Cassava Sciences Inc (SAVA) stock a consensus recommendation rating of a Buy, calculated at a mean rating of 1.00. If we narrow down to specifics, the data shows that 0 out of 2 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 0 recommended SAVA as a Hold, 2 felt it is a Buy and 0 rated the stock as Underweight. Cassava Sciences Inc’s EPS for the current quarter is expected to be -$0.52.
Cassava Sciences Inc (NASDAQ:SAVA) trade information
Instantly SAVA was in green as seen at the end of in last trading. With action 14.68%, the performance over the past five days has been green. The jump to weekly highs of 23.03 on Friday, 11/17/23 added 2.74% to the stock’s daily price. The company’s shares are showing year-to-date downside of -23.83%, with the 5-day performance at 14.68% in the green. However, in the 30-day time frame, Cassava Sciences Inc (NASDAQ:SAVA) is 57.89% up. Looking at the short shares, we see there were 15.99 million shares sold at short interest cover period of 8.28 days.
The consensus price target for the stock as assigned by Wall Street analysts is $99.50, meaning bulls need an upside of 77.39% from its current market value. According to analyst projections, SAVA’s forecast low is $75.00 with $124.00 as the target high. To hit the forecast high, the stock’s price needs a -451.11% plunge from its current level, while the stock would need to soar -233.33% for it to hit the projected low.
Cassava Sciences Inc (SAVA) estimates and forecasts
Data shows that the Cassava Sciences Inc share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -6.79% over the past 6 months, a -16.84% in annual growth rate that is considerably lower than the industry average of 11.30%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Cassava Sciences Inc will fall -10.60%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -0.83%. The 2023 estimates are for Cassava Sciences Inc earnings to decrease by -23.16%.
Cassava Sciences Inc is expected to release its next quarterly earnings report on November 07.
Cassava Sciences Inc (NASDAQ:SAVA)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 6.03% of Cassava Sciences Inc shares while 28.98% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 30.84%. There are 28.98% institutions holding the Cassava Sciences Inc stock share, with Blackrock Inc. the top institutional holder. As of Sep 29, 2023, the company held 6.73% of the shares, roughly 2.84 million SAVA shares worth $63.88 million.
Vanguard Group Inc holds the second largest percentage of outstanding shares, with 5.38% or 2.27 million shares worth $51.04 million as of Sep 29, 2023.
Among Mutual Funds, the top two as of Jun 29, 2023 were Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF. With 1.23 million shares estimated at $27.72 million under it, the former controlled 2.92% of total outstanding shares. On the other hand, iShares Russell 2000 ETF held about 2.16% of the shares, roughly 0.91 million shares worth around $20.49 million.