On April 5, 2023 at 15:15:51 ET an unusually large
$712.50K block of Put contracts in Cassava Sciences
(SAVA) was bought,
with a strike price of $20.00 / share, expiring in 289 days (on January 19, 2024).
Fintel tracks all large options trades, and the premium spent on this trade was 1.69 sigmas above the mean, placing it in the 100.00 percentile of all recent large trades made in SAVA options.
This trade was first picked up on Fintel’s real time Unusual Option Trades
tool, where unusual option trades are highlighted.
Analyst Price Forecast Suggests 256.85% Upside
As of March 30, 2023,
the average one-year price target for Cassava Sciences is $85.68.
The forecasts range from a low of $28.28 to a high of $130.20.
The average price target represents an increase of 256.85% from its latest reported closing price of $24.01.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Cassava Sciences
is $51MM.
The projected annual non-GAAP EPS
is -$1.53.
What is the Fund Sentiment?
There are 308 funds or institutions reporting positions in Cassava Sciences.
This is a decrease
of
17
owner(s) or 5.23% in the last quarter.
Average portfolio weight of all funds dedicated to SAVA is 0.12%,
an increase
of 10.15%.
Total shares owned by institutions increased
in the last three months by 7.53% to 11,903K shares.
The put/call ratio of SAVA is 0.35, indicating a
bullish
outlook.
What are Large Shareholders Doing?
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares
holds 1,233K shares
representing 2.95% ownership of the company.
In it’s prior filing, the firm reported owning 1,166K shares, representing
an increase
of 5.46%.
The firm
decreased
its portfolio allocation in SAVA by 31.00% over the last quarter.
IWM – iShares Russell 2000 ETF
holds 877K shares
representing 2.10% ownership of the company.
In it’s prior filing, the firm reported owning 831K shares, representing
an increase
of 5.17%.
The firm
decreased
its portfolio allocation in SAVA by 32.54% over the last quarter.
Geode Capital Management
holds 709K shares
representing 1.70% ownership of the company.
In it’s prior filing, the firm reported owning 685K shares, representing
an increase
of 3.38%.
The firm
decreased
its portfolio allocation in SAVA by 32.37% over the last quarter.
Gallacher Capital Management
holds 589K shares
representing 1.41% ownership of the company.
VEXMX – Vanguard Extended Market Index Fund Investor Shares
holds 516K shares
representing 1.24% ownership of the company.
In it’s prior filing, the firm reported owning 515K shares, representing
an increase
of 0.31%.
The firm
decreased
its portfolio allocation in SAVA by 31.72% over the last quarter.
Cassava Sciences Background Information
(This description is provided by the company.)
Cassava Sciences’ mission is to discover and develop innovations for chronic, neurodegenerative conditions. Over the past 10 years, Cassava Sciences has combined state-of-the-art technology with new insights in neurobiology to develop novel solutions for Alzheimer’s disease.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
