BlackRock Fund Advisors has recently announced that it has increased stake in Cassava Sciences Inc (NASDAQ:SAVA) by 3.50%. After grabbing 2.54 million shares, the institutional investor is now in possession of 86046.0 shares of the Healthcare Company. The new investment brought the stake of investor firm to 6.03% having worth around $52.95 million. Moreover, The Vanguard Group, Inc. increased its share by 18127.0 to have a control over 2.16 million shares. And SSgA Funds Management, Inc. raised its holdings to 73505.0 shares by acquiring 1.03 million shares or 2.43% of the stake.
Cassava Sciences Inc (SAVA) concluded trading on 12/21/23 at a closing price of $24.89, with 3.03 million shares of worth about $75.51 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 0.24% during that period and on Thursday the price saw a loss of about -10.34%. Currently the company’s common shares owned by public are about 41.74M shares, out of which, 39.58M shares are available for trading.
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According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 21 times over the past 12 months. They bought 256,818 shares in 17 of the transactions. In 4 selling transactions, insiders dumped 62,407 shares.
Vanguard Total Stock Market ETF, iShares Russell 2000 ETF, and Vanguard Extended Market Index Fu are the top 3 mutual funds which are holding stakes in Cassava Sciences Inc Vanguard Total Stock Market ETF is currently holding 1.24 million shares of worth totaling $25.79 million. The company recently came buying 5999.0 shares which brought its stake up to 2.94% of the company’s outstanding shares. iShares Russell 2000 ETF bought 477.0 shares, after which its hold over company’s outstanding shares expand to 2.30%, leaving 0.97 million shares with the mutual fund that have a worth of about $20.17 million. Vanguard Extended Market Index Fu, after buying 0.56 million shares, have now control over 1.34% of the stake in the company. It holds 10378.0 shares of worth $11.73 million.
Cassava Sciences Inc (NASDAQ: SAVA) started trading at $25.85, below -$1.91 from concluding price of the previous day. However, the stock later moved at a day high price of 25.85, or with a loss of -10.34%. Stock saw a price change of -17.34% in past 5 days and over the past one month there was a price change of 11.56%. Year-to-date (YTD), SAVA shares are showing a performance of -15.74% which decreased to -34.03% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $12.32 but also hit the highest price of $39.53 during that period. The average intraday trading volume for Cassava Sciences Inc shares is 1.42 million. The stock is currently trading 2.03% above its 20-day simple moving average (SMA20), while that difference is up 17.20% for SMA50 and it goes to 13.62% higher than SMA200.
BlackRock Fund Advisors acquired 2.54 million shares of Cassava Sciences Inc having value of about $52.95 million. Data submitted at the U.S SEC by BlackRock Fund Advisors revealed that the firm now holds 86046.0 shares in the company valued at close to $2141684.94, or have control over 3.50% stake in the company. Cassava Sciences Inc (NASDAQ: SAVA) currently have 41.74M outstanding shares and institutions hold larger chunk of about 31.24% of that. Holding of mutual funds in the company is about 16.12% while other institutional holders and individual stake holders have control over 6.35% and 15.14% of the stake respectively.
The stock has a current market capitalization of $1.05B and its 3Y-monthly beta is at -0.26. It has posted earnings per share of -$2.29 in the same period. It has Quick Ratio of 8.62 while making debt-to-equity ratio of 0.00. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for SAVA, volatility over the week remained 7.02% while standing at 7.58% over the month.
Analysts are in expectations that Cassava Sciences Inc (SAVA) stock would likely to be making an EPS of $Spirit Airlines, Inc. in the current quarter, while forecast for next quarter EPS is $16.45 and it is $Stocks for next year. For the current quarter EPS, analysts have given the company a lowest target $CAVA Group, Inc. which is $Saia, Inc. at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $Savara, Inc. in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -23.16% while it is estimated to increase by 76.92% in next year.
Analysts at 2 brokerage firms have issued recommendations for the Cassava Sciences Inc (SAVA)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.00. Out of those 2 Wall Street analysts, 2 recommended a “Buy” rating, while 0 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by B. Riley Securities on November 16, 2022 offering a Neutral rating for the stock and assigned a target price of $44 to it.
