Key Points
- CEO Richard Barry purchased 100,000 shares of Cassava Sciences at $0.92 per share, investing $92,000 and increasing his ownership by 8.08% to 1,337,964 shares. He also bought more than 299,000 shares in two transactions earlier that week.
- Cassava Sciences shares were trading at $0.96, up 8.9%, with a $46.62 million market capitalization and a 12-month range of $0.67 to $4.98.
- Analyst sentiment remains mixed, with one Buy and one Sell rating producing a consensus Hold rating and an average price target of $5.00. The company is developing simufilam, an investigational treatment for Alzheimer’s disease that is not yet approved.
Cassava Sciences, Inc. (NASDAQ:FLNA - Get Free Report) CEO Richard Barry bought 100,000 shares of the firm's stock in a transaction on Wednesday, September 30th. The stock was bought at an average price of $0.92 per share, with a total value of $92,000.00. Following the completion of the purchase, the chief executive officer owned 1,337,964 shares of the company's stock, valued at $1,230,926.88. This trade represents a 8.08% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Richard Barry also recently made the following trade(s):
- On Tuesday, September 29th, Richard Barry bought 206,813 shares of Cassava Sciences stock. The shares were bought at an average cost of $0.90 per share, with a total value of $186,131.70.
- On Monday, September 28th, Richard Barry purchased 93,091 shares of Cassava Sciences stock. The shares were bought at an average price of $0.84 per share, for a total transaction of $78,196.44.
Cassava Sciences Trading Up 8.9%
Shares of NASDAQ FLNA opened at $0.96 on Friday. The company has a market cap of $46.62 million, a price-to-earnings ratio of -1.11 and a beta of -0.65. Cassava Sciences, Inc. has a 12-month low of $0.67 and a 12-month high of $4.98. The stock's 50 day simple moving average is $0.88 and its 200 day simple moving average is $1.25.
Cassava Sciences (NASDAQ:FLNA - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The company reported ($0.18) earnings per share (EPS) for the quarter.
Analyst Ratings Changes
FLNA has been the subject of several recent research reports. Weiss Ratings upgraded shares of Cassava Sciences from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Tuesday, September 22nd. Wall Street Zen downgraded shares of Cassava Sciences from a "hold" rating to a "sell" rating in a research report on Saturday, June 6th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $5.00.
Check Out Our Latest Report on Cassava Sciences
Hedge Funds Weigh In On Cassava Sciences
An institutional investor recently raised its stake in Cassava Sciences stock. Caitong International Asset Management Co. Ltd boosted its holdings in Cassava Sciences, Inc. (NASDAQ:FLNA - Free Report) by 465.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm 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 quarter. 38.05% of the stock is owned by institutional investors and hedge funds.
About Cassava Sciences
(
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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