After dropping since mid-November, the price of Cassava Sciences stock (SAVA) has bounced back and today it is up 7.78%.
The current bullish outlook is a result of a denial by the FDA against Citizen Petitions Filed on Behalf of Short Selling Clients.
In a statement issued by the President & CEO of Cassava Sciences after the news Remi Barbier, it said:
“The news is very welcome but not surprising… We said from the outset that the allegations are false.”
To help stock traders eying the Cassava Sciences stock (SAVA), Invezz has created a brief article on what it is and the best places to buy it.
To find out more, please continue reading.
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What is Cassava Sciences stock?
Cassava Sciences stock is the stock of Cassava Sciences, Inc. Company and it trades on NASDAQ under the symbol NASDAQ: SAVA.
Cassava Sciences operates as a clinical-stage biotechnology company that develops drugs for neurodegenerative diseases like Alzheimer’s. Its top therapeutic products include simufilam, a small molecule drug, and SavaDx, a blood-based diagnostic drug for detecting Alzheimer’s disease.
Cassava Sciences was previously known as Pain Therapeutics, Inc.
Should I buy the SAVA stock today?
If you are looking to take advantage of a stock whose price has largely dipped over the recent past but has shown signs of bouncing back, then the SAVA stock could be a good choice.
However, there are still not very strong indicators as to how far the current bullish trend could go and is therefore important to be wary of the fact that the stock could decide to resume the bearing trend.
Cassava Sciences stock price prediction
Based on a forecast from several stock analysts, the SAVA stock is expected to see a long-time price hike towards $60 before the end of February 2022.
$SAVA stock social media coverage
The post Here is where you can buy Cassava Sciences stock (SAVA): it is up 7% today appeared first on Invezz.
