Cassava Sciences (NASDAQ:SAVA) CEO Richard Barry Purchases 73,385 Shares

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

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

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

Cassava Sciences Trading Down 4.4%

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

Cassava Sciences (NASDAQ:SAVA) last posted its quarterly earnings data on Wednesday, November 12th. The company reported ($0.22) EPS for the quarter, beating the consensus estimate of ($0.27) by $0.05. Sell-side analysts anticipate that Cassava Sciences, Inc. will post -3.97 EPS for the current year.

Analyst Ratings Changes

SAVA has been the topic of a number of recent research reports. Wall Street Zen raised Cassava Sciences from a “sell” rating to a “hold” rating in a research report on Saturday, November 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cassava Sciences in a report on Thursday, October 30th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $2.00.

Institutional Trading of Cassava Sciences

Hedge funds and other institutional investors have recently bought and sold shares of the company. Federated Hermes Inc. boosted its holdings 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 purchasing an additional 30,310 shares during the period. Charles Schwab Investment Management Inc. raised its position 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 worth $542,000 after buying an additional 41,511 shares in the last quarter. GMT Capital Corp purchased a new stake in shares of Cassava Sciences in the first quarter worth $675,000. AQR Capital Management LLC bought a new stake in Cassava Sciences during the first quarter valued at $120,000. Finally, Goldman Sachs Group Inc. grew 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 buying an additional 217,404 shares in the last quarter. 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.