5 Best Short Squeeze Stocks to Buy Now

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

Number of Hedge Fund Holders: 2

Short Interest as of September 14: 33.17%

Cassava Sciences, Inc. (NASDAQ:SAVA) was incorporated in 1998 and is based in Austin, Texas. It is a clinical stage biotechnology company that develops drugs for neurodegenerative diseases. On August 23, Cassava Sciences, Inc. (NASDAQ:SAVA)’s director Richard Barry bought 36,160 shares priced at $23.79 each for a total consideration of $860,000. His ownership now equals 186,159 shares. Amid rising short interest, Cassava Sciences, Inc. (NASDAQ:SAVA) is one of the best short squeeze stocks to buy now. 

On August 11, B. Riley analyst Mayank Mamtani lowered the price target on Cassava Sciences, Inc. (NASDAQ:SAVA) to $44 from $58 and kept a Buy rating on the shares after the company’s Q2 update. Phase 3 trials have now started and dosed 400 patients, up from 120 enrolled in Q1 2022, noted the analyst. He noted that the ongoing investigation of scientific collaborator Dr. Wang “remains a key overhang”.

According to Insider Monkey’s data, Shashin Shah’s Think Investments and Ken Griffin’s Citadel Investment Group held stakes worth $1.88 million and $266,000 in Cassava Sciences, Inc. (NASDAQ:SAVA) at the end of the second quarter of 2022.