Cassava Sciences (NASDAQ:FLNA) Stock Sees Unusually High Call Option Buying

Cassava Sciences, Inc. (NASDAQ:FLNA) saw some unusual options trading on Monday. Investors bought 3,212 call options on the stock. This represents an increase of approximately 1,582% compared to the typical daily volume of 191 call options.

Analyst Ratings Changes

Separately, Weiss Ratings downgraded Cassava Sciences from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, October 9th. One investment 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, the stock currently has an average rating of “Hold” and an average price target of $5.00.

Cassava Sciences Trading Up 4.8%

FLNA stock traded up $0.02 during trading on Monday, reaching $0.47. 75,725 shares of the stock were exchanged, compared to its average volume of 958,976. The firm’s 50 day moving average is $0.75 and its 200 day moving average is $1.35. The firm has a market cap of $22.92 million, a P/E ratio of -0.55 and a beta of -0.48. Cassava Sciences has a twelve month low of $0.43 and a twelve month high of $3.45.

Cassava Sciences (NASDAQ:FLNA) last announced its quarterly earnings data on Thursday, November 5th. The company reported ($0.22) EPS for the quarter.

Insider Activity at Cassava Sciences

In other Cassava Sciences news, CEO Richard Barry bought 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 30th. The shares were bought at an average price of $0.92 per share, for a total transaction of $92,000.00. Following the transaction, the chief executive officer directly owned 1,337,964 shares in the company, valued at approximately $1,230,926.88. This trade represents a 8.08% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last 90 days, insiders bought 399,904 shares of company stock worth $356,328. 4.60% of the stock is owned by corporate insiders.

Cassava Sciences Company Profile

Cassava Sciences, Inc is a clinical-stage biopharmaceutical company focused on developing treatments and diagnostic technologies for neurodegenerative diseases, particularly Alzheimer’s disease. The company’s research platform centers on filamin A, a scaffolding protein that Cassava believes may contribute to disease-related signaling when altered.

Cassava’s primary drug candidate has been simufilam, an investigational oral therapy designed to modify altered filamin A and potentially address biological processes associated with Alzheimer’s disease.