SAVA Stock Forecast: Sava Falls on Biogen’s Alzheimer Drug Testing Success
Sava Stock Forecast: The stock is a Neutral.
Sava Stock Price
Sava Stock Forecast: Recent Performance
Sava Stock Forecast: Latest News
After rising on the news of SEC Investigation closure, SAVA crashed yesterday on news of Biogen’s success (Phase III testing) with its Alzheimer’s drug.
Cassava Downplayed the news regarding SEC case closing: Cassava has recently downplayed the news that “SEC is closing its case regarding the manipulation done by Cassava in the research results of its experimental drug “simufilam””, which led to a more than 15% downfall in the stock price. Cassava told that it was “unable to establish the legitimacy”. Before this, when the news “SEC closing the case” was released, the share price soared by 36%.
No evidence found in data manipulation: The “Journal of Prevention of Alzheimer’s Disease (JPAD)” has recently said that there is no evidence to support the charges of data manipulation. It said, “We do not find convincing evidence of manipulation of data or intent to mislead, and therefore take no action regarding the published paper”. Other papers such as Neurobiology of Aging, Neuroscience, and The Journal of Neuroscience have also cleared the case, saying no evidence was found.
Positive results shown by 100 patients: The Company has released 12 months of data from 100 patients from its phase -2 trials of the “simufilam” drug. The Company stated that 63% of people showed improvement in cognition and 21% of patients showed <5 points, which means the drug was successful in slowing down the effects of Alzheimer’s disease.
Insider buying: Recently, Sanford Robertson (Director), an insider bought 2802 shares making him a shareholder of more than 1 million shares with a 10% stake. In recent months, more than 4 insider purchases took place.
Sava Stock Forecast: Latest Video
Sava Stock Forecast Today
|1. Market’s Wisdom|
|1a. Market Data||Neutral|
|Performance vs NASDAQ (Last 5 days)||Higher|
|2. Crowd’s Wisdom|
|2a. Google Search||Neutral|
|2b. Social Media Sentiment||Lower|
The company stated that it will release the results of its blood-based diagnostic test SavaDX by 2023 which is worth a billion dollars.
Sava Stock Forecast: Price target
Sava Stock Forecast: Latest Tweet
$SAVA bulls want to maintain the hourly uptrend and momentum anything above 40.11 is an hourly higher low. Bears will be looking to top fish short at the high of yesterday or wait for a 5-minute confirmed downtrend. Here are the key levels on the hourly chart.
Sava Stock Forecast: Q2 Results
Cassava sciences released its quarter 2 (which ended on June 30, 2022) reports in August.
Its net loss was reported as $19.3 million, which is up 278% increase compared to the previous year when the net loss was $5.1 million.
The company reported that it holds $197 million in cash with $0 debt and $9 million as total liabilities.
Net cash used in operations was $34.6 million during the first six months of 2022, which is expected to reach $80 or $90 million by the end of 2022.
Research and development expenses saw an increase of 333% y-y from $3.9 million in Q2, 2021 to $16.9 million in 2022.
General and administrative expenses were reported as $3 million, up 150% year-over-year.
Its basic earnings per share (EPS) are reported as $0.48, up 9% q-q.
Its EBIT is $19.9 million, up 11.7% q-q.
Sava Forecast: Conclusion
Cassava expects the global market for Alzheimer’s disease to reach $17.7 billion by 2025. Cassava’s insider trading show that the stock price can grow in the future. The company faced a net loss of $19.3 million, but it is due to the increased focus on R&D activities for the phase 3 program of simufilam drug.
Analysts expect the stock price to grow but the stock price can fall if the simufilam drug fails. So, the stock price depends on the simufilam drug’s success, which is not certain and is considered risky.
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