Cassava Sciences (NASDAQ:FLNA) CEO Buys $92,000.00 in Stock

Cassava Sciences, Inc. (NASDAQ:FLNA) CEO Richard Barry purchased 100,000 shares of the business’s stock in a transaction on Wednesday, September 30th. The stock was acquired at an average cost of $0.92 per share, with a total value of $92,000.00. Following the completion of the acquisition, the chief executive officer directly owned 1,337,964 shares in the company, valued at $1,230,926.88. The trade was a 8.08% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Tuesday, September 29th, Richard Barry acquired 206,813 shares of Cassava Sciences stock. The shares were acquired at an average price of $0.90 per share, with a total value of $186,131.70.
• On Monday, September 28th, Richard Barry acquired 93,091 shares of Cassava Sciences stock. The stock was acquired at an average cost of $0.84 per share, for a total transaction of $78,196.44.

Cassava Sciences Price Performance

NASDAQ FLNA opened at $0.93 on Friday. The company’s 50 day simple moving average is $0.88 and its 200 day simple moving average is $1.25. Cassava Sciences, Inc. has a 12 month low of $0.67 and a 12 month high of $4.98. The company has a market capitalization of $44.97 million, a P/E ratio of -1.07 and a beta of -0.65.

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

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on FLNA. Weiss Ratings upgraded Cassava Sciences from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, September 22nd. Wall Street Zen downgraded Cassava Sciences from a “hold” rating to a “sell” rating in a report on Saturday, June 6th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $5.00.

Hedge Funds Weigh In On Cassava Sciences

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

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.