Richard Barry Acquires 7,172 Shares of Cassava Sciences (NASDAQ:SAVA) Stock

Cassava Sciences, Inc. (NASDAQ:SAVA) CEO Richard Barry purchased 7,172 shares of the company’s stock in a transaction dated Monday, September 22nd. The stock was purchased at an average cost of $2.28 per share, for a total transaction of $16,352.16. Following the transaction, the chief executive officer owned 714,675 shares of the company’s stock, valued at approximately $1,629,459. This trade represents a 1.01% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Friday, September 19th, Richard Barry purchased 47,308 shares of Cassava Sciences stock. The stock was purchased at an average cost of $2.29 per share, for a total transaction of $108,335.32.
• On Thursday, September 18th, Richard Barry purchased 190,633 shares of Cassava Sciences stock. The stock was purchased at an average cost of $2.24 per share, for a total transaction of $427,017.92.

Cassava Sciences Stock Down 4.9%

NASDAQ:SAVA opened at $3.10 on Friday. Cassava Sciences, Inc. has a 12 month low of $1.15 and a 12 month high of $33.98. The firm has a market cap of $149.76 million, a price-to-earnings ratio of -1.22 and a beta of -2.06. The company’s 50 day moving average is $2.31 and its 200-day moving average is $2.05.

Cassava Sciences (NASDAQ:SAVA) last released its quarterly earnings results on Thursday, August 14th. The company reported ($0.18) EPS for the quarter. Research analysts predict that Cassava Sciences, Inc. will post -3.97 EPS for the current fiscal year.

Hedge Funds Weigh In On Cassava Sciences

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Two Sigma Advisers LP bought a new position in Cassava Sciences during the fourth quarter worth $1,432,000. Two Sigma Investments LP increased its position in Cassava Sciences by 679.1% during the fourth quarter. Two Sigma Investments LP now owns 562,082 shares of the company’s stock worth $1,327,000 after acquiring an additional 489,936 shares during the period. Goldman Sachs Group Inc. increased its position in Cassava Sciences by 77.9% during the first 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 during the period. GMT Capital Corp bought a new position in Cassava Sciences during the first quarter worth $675,000. Finally, Northern Trust Corp increased its position in Cassava Sciences by 2.7% during the fourth quarter. Northern Trust Corp now owns 406,562 shares of the company’s stock worth $959,000 after acquiring an additional 10,782 shares during the period. Institutional investors own 38.05% of the company’s stock.

About Cassava Sciences

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.