(SAVA) - Analyzing Cassava Sciences's Short Interest
Portfolio Pulse from Benzinga Insights
Cassava Sciences (NYSE:SAVA) has seen a decrease in short interest, with the short percent of float dropping 3.99% since the last report. The company has 13.33 million shares sold short, representing 33.49% of its float. The average time to cover these short positions is 13.32 days. Short interest is a measure of market sentiment, and a decrease may indicate a more bullish outlook. However, this does not necessarily predict a near-term price rise. Cassava Sciences has a higher short interest compared to its peers, with the peer group average at 12.46%.
January 29, 2024 | 3:15 pm
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Cassava Sciences's short interest has decreased, which may suggest a more bullish sentiment among investors. However, the high short interest relative to peers could still indicate skepticism about the company's prospects.
While a decrease in short interest can be a positive sign, it is not a reliable indicator of immediate stock price movement. The high short interest compared to peers suggests that there is still a significant bearish sentiment, which could limit any potential positive impact on the stock price in the short term.
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