Cassava Sciences Inc (NASDAQ: SAVA) Surprises Bears With Its Outlook.

In the last trading session, 3.24 million shares of the Cassava Sciences Inc (NASDAQ:SAVA) were traded, and its beta was -1.08. Most recently the company’s share price was $2.89, and it changed around -$0.05 or -1.70% from the last close, which brings the market valuation of the company to $139.03M. SAVA currently trades at a discount to its 52-week high of $42.20, offering almost -1360.21% off that amount. The share price’s 52-week low was $2.78, which indicates that the current value has risen by an impressive 3.81% since then. We note from Cassava Sciences Inc’s average daily trading volume that its 10-day average is 21.52 million shares, with the 3-month average coming to 4.96 million.

Cassava Sciences Inc stock received a consensus recommendation rating of Hold, based on a mean score of 3.67. If we narrow it down even further, the data shows that 0 out of 2 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 2 recommended SAVA as a Hold, whereas 0 deemed it a Buy, and 0 rated it as Underweight. Cassava Sciences Inc is expected to report earnings per share of -0.68 for the current quarter.

Cassava Sciences Inc (NASDAQ:SAVA) trade information

Instantly SAVA has showed a red trend with a performance of -1.70% at the end of last trading. The performance over the last five days has remained in the red territory. The rise to weekly highs of 3.37 on recent trading dayincreased the stock’s daily price by 14.24%. The company’s shares are currently down -87.16% year-to-date, but still down -13.73% over the last five days. On the other hand, Cassava Sciences Inc (NASDAQ:SAVA) is -89.28% down in the 30-day period. We can see from the shorts that 18.08 million shares have been sold at a short interest cover period of 13.6 day(s).

Cassava Sciences Inc (SAVA) estimates and forecasts

Cassava Sciences Inc share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -84.64 percent over the past six months and at a 31.90% annual growth rate that is well above the industry average of 16.70%.

Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -30.45%.

SAVA Dividends

Cassava Sciences Inc’s next quarterly earnings report is expected to be released in January.

Cassava Sciences Inc (NASDAQ:SAVA)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 12.65% of Cassava Sciences Inc shares, and 29.97% of them are in the hands of institutional investors. The stock currently has a share float of 34.31%. Cassava Sciences Inc stock is held by 227.0 institutions, with BLACKROCK INC. being the largest institutional investor. By 2024-06-30, it held 7.4874% of the shares, which is about 3.22 million shares worth $39.76 million.

VANGUARD GROUP INC, with 6.2397% or 2.68 million shares worth $33.14 million as of 2024-06-30, holds the second largest percentage of outstanding shares.