Key Points
- CEO Richard Barry bought 73,385 shares on Nov. 19 at an average price of $2.75 (total value $201,808.75), bringing his stake to 788,060 shares — a 10.27% increase in his position.
- Barry has been repeatedly accumulating stock, purchasing an additional 245,113 shares in September at roughly $2.24–$2.29 per share, signaling continued insider buying.
- SAVA traded up about 4.8% to $2.76 (market cap ~$133.1M); the company beat Q3 EPS estimates (-$0.22 vs. -$0.27), but analysts maintain an average rating of "Reduce" with a $2.00 consensus price target.
Cassava Sciences, Inc. (NASDAQ:SAVA - Get Free Report) CEO Richard Barry purchased 73,385 shares of the stock in a transaction that occurred on Wednesday, November 19th. The stock was bought at an average price of $2.75 per share, with a total value of $201,808.75. Following the completion of the acquisition, the chief executive officer owned 788,060 shares in the company, valued at $2,167,165. This represents a 10.27% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.
Richard Barry also recently made the following trade(s):
- On Monday, September 22nd, Richard Barry purchased 7,172 shares of Cassava Sciences stock. The shares were bought at an average cost of $2.28 per share, for a total transaction of $16,352.16.
- On Friday, September 19th, Richard Barry bought 47,308 shares of Cassava Sciences stock. The stock was purchased at an average price of $2.29 per share, with a total value of $108,335.32.
- On Thursday, September 18th, Richard Barry bought 190,633 shares of Cassava Sciences stock. The shares were acquired at an average price of $2.24 per share, with a total value of $427,017.92.
Cassava Sciences Trading Up 4.8%
SAVA stock traded up $0.13 during midday trading on Friday, hitting $2.76. 817,305 shares of the company's stock were exchanged, compared to its average volume of 1,761,296. The firm has a 50 day moving average price of $3.27 and a 200-day moving average price of $2.52. Cassava Sciences, Inc. has a 12-month low of $1.15 and a 12-month high of $31.40. The stock has a market capitalization of $133.09 million, a price-to-earnings ratio of -1.08 and a beta of -1.10.
Cassava Sciences (NASDAQ:SAVA - Get Free Report) last issued its quarterly earnings results on Wednesday, November 12th. The company reported ($0.22) EPS for the quarter, topping the consensus estimate of ($0.27) by $0.05. On average, sell-side analysts forecast that Cassava Sciences, Inc. will post -3.97 EPS for the current fiscal year.
Hedge Funds Weigh In On Cassava Sciences
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SAVA. Vanguard Group Inc. lifted its holdings in shares of Cassava Sciences by 5.5% in the third quarter. Vanguard Group Inc. now owns 2,289,523 shares of the company's stock valued at $6,663,000 after purchasing an additional 119,451 shares in the last quarter. Marshall Wace LLP raised its position in Cassava Sciences by 2,774.3% during the third quarter. Marshall Wace LLP now owns 2,061,286 shares of the company's stock valued at $5,998,000 after buying an additional 1,989,572 shares during the period. Two Sigma Investments LP lifted its stake in Cassava Sciences by 7.3% in the 3rd quarter. Two Sigma Investments LP now owns 564,998 shares of the company's stock worth $1,644,000 after acquiring an additional 38,483 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in Cassava Sciences by 77.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 496,313 shares of the company's stock worth $744,000 after acquiring an additional 217,404 shares in the last quarter. Finally, GMT Capital Corp acquired a new stake in Cassava Sciences during the 1st quarter worth about $675,000. Institutional investors and hedge funds own 38.05% of the company's stock.
Wall Street Analyst Weigh In
Several equities analysts have recently issued reports on SAVA shares. Wall Street Zen upgraded Cassava Sciences from a "sell" rating to a "hold" rating in a research report on Saturday, November 15th. Weiss Ratings reissued a "sell (d-)" rating on shares of Cassava Sciences in a report on Thursday, October 30th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Reduce" and a consensus price target of $2.00.
Check Out Our Latest Research Report on Cassava Sciences
About Cassava Sciences
(
Get Free Report)
Cassava Sciences, Inc, a clinical stage biotechnology company, develops drugs for neurodegenerative diseases. Its lead therapeutic product candidate is simufilam, a small molecule drug, which is completed Phase 2 clinical trial; and investigational diagnostic product candidate is SavaDx, a blood-based biomarker/diagnostic to detect Alzheimer's disease.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
