Key Points
- CEO Richard Barry purchased 93,091 shares of Cassava Sciences at an average price of $0.84, investing approximately $78,196 and increasing his holdings by 9.92% to 1,031,151 shares.
- Cassava Sciences shares opened at $0.89 after falling 4.2%, with a market capitalization of $42.8 million and a 52-week range of $0.67 to $4.98.
- Analyst sentiment remains mixed, with a consensus “Hold” rating and a $5.00 average price target; institutional investors own 38.05% of the company, which is developing the investigational Alzheimer’s therapy simufilam.
Cassava Sciences, Inc. (NASDAQ:FLNA - Get Free Report) CEO Richard Barry bought 93,091 shares of the company's stock in a transaction dated Monday, September 28th. The stock was bought at an average price of $0.84 per share, with a total value of $78,196.44. Following the acquisition, the chief executive officer owned 1,031,151 shares in the company, valued at approximately $866,166.84. This trade represents a 9.92% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Cassava Sciences Stock Down 4.2%
FLNA stock opened at $0.89 on Thursday. The stock has a market capitalization of $42.80 million, a price-to-earnings ratio of -1.02 and a beta of -0.69. Cassava Sciences, Inc. has a twelve month low of $0.67 and a twelve month high of $4.98. The firm's fifty day simple moving average is $0.88 and its two-hundred day simple moving average is $1.26.
Cassava Sciences (NASDAQ:FLNA - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The company reported ($0.18) earnings per share for the quarter.
Institutional Investors Weigh In On Cassava Sciences
An institutional investor recently raised its stake in Cassava Sciences stock. Caitong International Asset Management Co. Ltd boosted its stake in shares of Cassava Sciences, Inc. (NASDAQ:FLNA - Free Report) by 465.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,606 shares of the company's stock after acquiring an additional 11,200 shares during the quarter. Caitong International Asset Management Co. Ltd's holdings in Cassava Sciences were worth $27,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 38.05% of the company's stock.
Wall Street Analyst Weigh In
Several research analysts have commented on FLNA shares. Weiss Ratings upgraded Cassava Sciences from a "sell (e+)" rating to a "sell (d-)" rating in a report on Tuesday, September 22nd. Wall Street Zen cut shares of Cassava Sciences from a "hold" rating to a "sell" rating in a research report on Saturday, June 6th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $5.00.
Read Our Latest Research Report on FLNA
Cassava Sciences Company Profile
(
Get Free Report)
Cassava Sciences, Inc is a clinical-stage biopharmaceutical company focused on developing treatments for neurodegenerative diseases. The company's research has centered on simufilam, an investigational oral therapy designed to target an altered form of the scaffolding protein filamin A that Cassava has linked to Alzheimer's disease pathology.
Simufilam has been evaluated in clinical studies involving patients with Alzheimer's disease, but it is an investigational product and is not approved for commercial use.
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