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Cassava Sciences Inc. (SAVA) Could Be Worth Considering For The Next Few Weeks

Cassava Sciences Inc. (NASDAQ:SAVA) concluded the trading at $51.06 on Thursday, September 22 with a rise of 35.65% from its closing price on previous day.

Taking a look at stock we notice that its last check on previous day was $37.64 and 5Y monthly beta was reading 1.03 with its price kept floating in the range of $36.8801 and $51.59 on the day. Considering stock’s 52-week price range provides that SAVA hit a high price of $100.00 and saw its price falling to a low level of $13.84 during that period. Over a period of past 1-month, stock came adding 101.74% in its value.

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With its current market valuation of $2.08 billion, Cassava Sciences Inc. is set to declare its quarterly results on Apr 19, 2022 – Apr 25, 2022. Analysts are in estimates of -$0.43 per share for company’s earnings in the current quarter and are expecting its annual EPS growth moving up to -$1.79 for 2022 with estimates of that growing to -$1.28 in next year. These estimates are suggesting current year growth of -118.30% for EPS and 28.50% growth next year.

In last 7 days, analysts came adjusting their opinions about stock’s EPS with no upward and no downward revisions, an indication which could give clearer idea about the company’s short term price movement. In contrast, when we review SAVA stock’s current outlook then short term indicators are assigning it an average of 50% Buy, while medium term indicators are categorizing the stock at an average of Hold. Long term indicators are suggesting an average of 50% Buy for it.

Digging deeper we become aware of the PEG ratio of the SAVA stock which is currently positioned at 0. It further provides that stock’s current price level is 70.39% away from its 20-day simple moving average and is 105.52% off its SMA50. Its relative strength index (RSI) for 14-periods is oscillating at 79.72 while volatility remained at 20.11% over the past week which changes to 12.47% when measuring it over the past month. Beta is valued at 0.50, while measure of average true range or ATR is currently at 4.56.

Having a second look at Cassava Sciences Inc. (NASDAQ:SAVA) provides that stock’s average daily trading volume for 3 months was 2.77 million, while it jumped to 5.15 million when we calculate an average volume for past 10 days. Number of outstanding shares of the stock stood at 40.02 million.

The percentage of outstanding shares held by the insiders is 4.70% while it is 25.30% for the institutional holders. The figures also indicate that as of Jul 14, 2022, number of stock’s short shares was 10.18 million which implies a short ratio of 12.65. This shows down a 25.40% of Short Interest in company’s outstanding shares on the day. In July the standing of shares short improved as it was 10.97 million in the previous month. Addition of 16.84% by stock’s current price to its year-to-date value in last trading session is likely to be increasing investors’ interest in the stock as it is hinting an extended uptrend.

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