Now Is A Suitable Moment For A Long-Term Purchase Of Cassava Sciences Inc (NASDAQ: SAVA)

Currently, there are 47.98M common shares owned by the public and among those 44.90M shares have been available to trade.

The company’s stock has a 5-day price change of -38.31% and -39.13% over the past three months. SAVA shares are trading -45.14% year to date (YTD), with the 12-month market performance down to -48.04% lower. It has a 12-month low price of $12.32 and touched a high of $32.10 over the same period. SAVA has an average intraday trading volume of 819.87K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -38.31%, -41.18%, and -42.63% respectively.

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Institutional ownership of Cassava Sciences Inc (NASDAQ: SAVA) shares accounts for 24.51% of the company’s 47.98M shares outstanding.

It has a market capitalization of $592.55M and a beta (3y monthly) value of -0.53. The earnings-per-share (ttm) stands at -$2.16. Price movements for the stock have been influenced by the stock’s volatility, which stands at 26.68% over the week and 9.90% over the month.

Earnings per share for the fiscal year are expected to increase by 53.74%, and 133.54% over the next financial year.

Looking at the support for the SAVA, a number of firms have released research notes about the stock. B. Riley Securities stated their Neutral rating for the stock in a research note on November 16, 2022, with the firm’s price target at $44. Cantor Fitzgerald coverage for the Cassava Sciences Inc (SAVA) stock in a research note released on July 15, 2021 offered a Neutral rating with a price target of $100. Maxim Group was of a view on July 07, 2021 that the stock is Buy, while B. Riley Securities gave the stock Buy rating on April 27, 2021, issuing a price target of $78. H.C. Wainwright on their part issued Buy rating on February 16, 2021.

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