10 Best Short-Term Stocks To Buy Right Now

8. Cassava Sciences, Inc. (NASDAQ:SAVA)

Last 52 weeks return: -86.52%

Last 1 month’s return: 15.29%

No. of hedge fund portfolios: 10

Cassava Sciences, Inc. (NASDAQ:SAVA) is a Texas-based company engaged in clinical-stage biotechnology business and working on novel treatments for Alzheimer’s disease. Similarly, the company’s leading drug candidate is designed to restore protein function and reduce neuroinflammation. The company sets itself apart from its competitors by focusing on disease-modifying therapies rather than symptomatic relief. It has a global reach for its clinical trials and research.

Cassava Sciences, Inc. (NASDAQ:SAVA) has faced significant losses, plunging 86.52% over the past year, mainly reflecting challenges within the biotech sector. The company has been testing a new drug for the treatment of Alzheimer’s. The drug had passed the phase 1 trials and hence received huge expectations. However, during the latter part of 2024, the company’s Alzheimer’s treatment failed in Phase 3 testing, leading the stocks to plummet.

Despite the loss over the past year, recent trends show a 15.29% gain in the last month. The gain suggests some recovery potential, which was initiated by a license agreement concerning a new therapeutic application for Simufilam. Rick Barry, President and Chief Executive Officer at Cassava, has made the following statement in this regard.

“We are pleased to have entered a licensing agreement with Yale University, which allows us to build on the promising research of Angélique Bordey, PhD, Professor of Neurosurgery and Vice Chair of Research, Neurosurgery at Yale, to explore Simufilam’s potential as a treatment for TSC-related seizures”

While the 200-day SMA remains profoundly negative at -82.45%, the 20-day SMA has increased by 6.96%.

With 10 hedge fund portfolios from the Insider Monkey database still invested, some institutional confidence persists, making Cassava Sciences a risky yet high-rewarding stock for short-term traders.