Cassava Sciences (NASDAQ:FLNA) CEO Purchases 206,813 Shares of Company Stock

Cassava Sciences, Inc. (NASDAQ:FLNA) CEO Richard Barry bought 206,813 shares of the company’s stock in a transaction that occurred on Tuesday, September 29th. The shares were bought at an average price of $0.90 per share, for a total transaction of $186,131.70. Following the completion of the acquisition, the chief executive officer owned 1,237,964 shares in the company, valued at approximately $1,114,167.60. This trade represents a 20.06% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Richard Barry also recently made the following trade(s):

• On Wednesday, September 30th, Richard Barry purchased 100,000 shares of Cassava Sciences stock. The shares were bought at an average cost of $0.92 per share, for a total transaction of $92,000.00.
• On Monday, September 28th, Richard Barry purchased 93,091 shares of Cassava Sciences stock. The stock was bought at an average price of $0.84 per share, with a total value of $78,196.44.

Cassava Sciences Stock Down 4.2%

Shares of NASDAQ:FLNA opened at $0.89 on Thursday. Cassava Sciences, Inc. has a 52-week low of $0.67 and a 52-week high of $4.98. The company has a 50 day moving average of $0.88 and a two-hundred day moving average of $1.26. The company has a market capitalization of $42.80 million, a price-to-earnings ratio of -1.02 and a beta of -0.69.

Cassava Sciences (NASDAQ:FLNA) last posted its earnings results on Wednesday, July 29th. The company reported ($0.18) EPS for the quarter.

Hedge Funds Weigh In On Cassava Sciences

An institutional investor recently raised its stake in Cassava Sciences stock. Caitong International Asset Management Co. Ltd grew its stake in shares of Cassava Sciences, Inc. (NASDAQ:FLNA) by 465.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,606 shares of the company’s stock after acquiring an additional 11,200 shares during the period. Caitong International Asset Management Co. Ltd’s holdings in Cassava Sciences were worth $27,000 as of its most recent SEC filing. Institutional investors own 38.05% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Wall Street Zen cut Cassava Sciences from a “hold” rating to a “sell” rating in a research note on Saturday, June 6th. Weiss Ratings upgraded Cassava Sciences from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, September 22nd. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $5.00.

Cassava Sciences Company Profile

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.