Cassava Sciences, Inc. (NASDAQ:SAVA) CFO Sells $230,828.00 in Stock

Cassava Sciences, Inc. (NASDAQ:SAVA) CFO Eric Schoen sold 59,800 shares of the business’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $3.86, for a total value of $230,828.00. Following the completion of the sale, the chief financial officer now directly owns 11,500 shares of the company’s stock, valued at $44,390. The trade was a 83.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Cassava Sciences Stock Down 2.8 %

Shares of NASDAQ SAVA traded down $0.09 during midday trading on Tuesday, reaching $3.35. The company’s stock had a trading volume of 7,884,407 shares, compared to its average volume of 10,487,342. The company has a 50 day moving average price of $24.48 and a 200 day moving average price of $22.66. Cassava Sciences, Inc. has a one year low of $3.25 and a one year high of $42.20.

Cassava Sciences (NASDAQ:SAVA) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.58) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.37) by $0.79. During the same period in the previous year, the company earned ($0.61) EPS. Equities research analysts expect that Cassava Sciences, Inc. will post -3.97 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently issued reports on SAVA shares. Rodman & Renshaw restated a “buy” rating and issued a $107.00 price objective on shares of Cassava Sciences in a research report on Thursday, August 8th. HC Wainwright cut shares of Cassava Sciences from a “buy” rating to a “neutral” rating and set a $116.00 price target on the stock. in a research report on Tuesday, November 26th.

Institutional Investors Weigh In On Cassava Sciences

Several hedge funds and other institutional investors have recently made changes to their positions in the company. KBC Group NV acquired a new position in Cassava Sciences during the third quarter valued at approximately $57,000. Quest Partners LLC boosted its holdings in Cassava Sciences by 117.8% during the third quarter. Quest Partners LLC now owns 1,997 shares of the company’s stock worth $59,000 after purchasing an additional 1,080 shares during the last quarter. Creative Planning acquired a new position in shares of Cassava Sciences during the 3rd quarter worth approximately $201,000. McAdam LLC acquired a new stake in shares of Cassava Sciences in the 3rd quarter valued at approximately $208,000. Finally, Independent Advisor Alliance acquired a new position in shares of Cassava Sciences during the 3rd quarter worth about $208,000. 38.05% of the stock is owned by institutional investors and hedge funds.

Cassava Sciences Company Profile

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.