(SAVA) - Analyzing Cassava Sciences's Short Interest
Portfolio Pulse from Benzinga Insights
Cassava Sciences (NYSE:SAVA) has seen a decrease in short interest, with 11.76 million shares sold short, representing 29.54% of its float. This is a 3.46% drop since the last report, indicating a potential shift in market sentiment towards the stock. The current short interest suggests it would take approximately 23.47 days for traders to cover their positions, based on average trading volumes. Comparatively, Cassava's short interest is higher than its peer group average of 12.46%, suggesting more bearish sentiment towards SAVA than its peers.
March 21, 2024 | 4:30 pm
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Cassava Sciences's short interest has decreased, indicating a potential shift in market sentiment. With a high short interest compared to peers, it suggests more bearish sentiment but also a possible squeeze if the stock moves positively.
The decrease in short interest for SAVA suggests that bearish sentiment may be waning, which could lead to a short squeeze if the stock starts to move upwards. However, its higher short interest relative to peers indicates that it is still viewed more bearishly, which investors should monitor closely.
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