Cassava Sciences (NASDAQ:SAVA) CEO Purchases $201,808.75 in Stock

Cassava Sciences, Inc. (NASDAQ:SAVA) CEO Richard Barry acquired 73,385 shares of the company’s stock in a transaction that occurred on Wednesday, November 19th. The shares were acquired at an average price of $2.75 per share, with a total value of $201,808.75. Following the completion of the transaction, the chief executive officer owned 788,060 shares in the company, valued at $2,167,165. The trade was a 10.27% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Monday, September 22nd, Richard Barry bought 7,172 shares of Cassava Sciences stock. The shares were acquired at an average cost of $2.28 per share, with a total value of $16,352.16.
• On Friday, September 19th, Richard Barry bought 47,308 shares of Cassava Sciences stock. The stock was bought at an average cost of $2.29 per share, with a total value of $108,335.32.
• On Thursday, September 18th, Richard Barry purchased 190,633 shares of Cassava Sciences stock. The stock was bought at an average price of $2.24 per share, for a total transaction of $427,017.92.

Cassava Sciences Price Performance

SAVA stock traded down $0.12 during midday trading on Thursday, reaching $2.63. 1,250,284 shares of the stock were exchanged, compared to its average volume of 1,766,280. The stock has a market capitalization of $127.05 million, a PE ratio of -1.03 and a beta of -1.10. Cassava Sciences, Inc. has a 52 week low of $1.15 and a 52 week high of $33.98. The company has a fifty day moving average price of $3.27 and a 200 day moving average price of $2.52.

Cassava Sciences (NASDAQ:SAVA) last issued its quarterly earnings data on Wednesday, November 12th. The company reported ($0.22) earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.05. As a group, analysts anticipate that Cassava Sciences, Inc. will post -3.97 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cassava Sciences

Large investors have recently added to or reduced their stakes in the business. Federated Hermes Inc. raised its position in Cassava Sciences by 426.9% in the 1st quarter. Federated Hermes Inc. now owns 37,410 shares of the company’s stock valued at $56,000 after buying an additional 30,310 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Cassava Sciences by 13.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 361,253 shares of the company’s stock valued at $542,000 after purchasing an additional 41,511 shares during the last quarter. GMT Capital Corp purchased a new stake in shares of Cassava Sciences in the first quarter valued at about $675,000. AQR Capital Management LLC bought a new position in shares of Cassava Sciences during the first quarter valued at about $120,000. Finally, Goldman Sachs Group Inc. lifted its position in shares of Cassava Sciences by 77.9% during the first quarter. Goldman Sachs Group Inc. now owns 496,313 shares of the company’s stock valued at $744,000 after purchasing an additional 217,404 shares in the last quarter. Institutional investors own 38.05% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on SAVA shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Cassava Sciences in a research note on Thursday, October 30th. Wall Street Zen upgraded shares of Cassava Sciences from a “sell” rating to a “hold” rating in a research report on Saturday, November 15th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Reduce” and an average price target of $2.00.

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.