SAVA Stock
The stock price of Cassava Sciences (NASDAQ: SAVA), a clinical stage biotechnology company focused on treatment for Alzheimers, has seen a 7% rise over the last ten trading days, while it is up 1% over the last five trading days. However, the stock has gained a whopping 666% year-to-date. We believe the stock, despite the recent rally, may continue to trend higher in the near term. The rally over the recent months can largely be attributed to the company’s announcement of the positive end of the phase two meeting with the U.S. FDA for Simufilam. The company will now advance to phase three trials for Simufilam. This is a big step for the company, and if successful, Simufilam can garner multi-billion dollars in peak sales, given there is no approved drug for Alzheimers. Multiple analysts have raised their price estimates for SAVA stock this year, aiding its stock price appreciation.
Looking at the recent rally, the 7% rise for SAVA stock over the last five days compares with a 1.6% gain seen in the broader S&P 500 index. Now, is SAVA stock poised to rise further? It looks that way. Based on our machine learning analysis of trends in the stock price over the last few years, we believe that there is a higher chance of a rise in SAVA stock over the next month (twenty-one trading days). See our analysis on Cassava Sciences Stock Chances of Rise for more details.
Five Days: SAVA 1.3%, vs. S&P500 1.6%; Underperformed market
(43% likelihood event)
- Cassava Sciences stock rose 1.3% over a five-day trading period ending 3/17/2021, compared to broader market (S&P500) rise of 1.6%
- A change of 1.3% or more over five trading days is a 43% likelihood event, which has occurred 554 times out of 1290 in the last five years
Ten Days: SAVA 7.3%, vs. S&P500 3.7%; Outperformed market
(52% likelihood event)
- Cassava Sciences stock rose 7.3% over the last ten trading days (two weeks), compared to broader market (S&P500) rise of 3.7%
- A change of 7.3% or more over 10 trading days is a 52% likelihood event, which has occurred 658 times out of 1274 in the last five years
While SAVA stock may continue to trend higher, 2020 has created many pricing discontinuities which can offer attractive trading opportunities. For example, you’ll be surprised how counter-intuitive the stock valuation is for Abbott vs. Vertex.
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