Cassava Sciences (NASDAQ:SAVA) CEO Acquires $427,017.92 in Stock

Key Points

• Richard Barry, CEO of Cassava Sciences, acquired 190,633 shares at an average price of $2.24, increasing his total ownership in the company by 40.60% to 660,195 shares.
• The stock price of Cassava Sciences recently traded up 1.8% to $2.32, with a market cap of approximately $112 million and a one-year trading range between $1.15 and $33.98.
• Cassava Sciences is currently developing drugs for neurodegenerative diseases, and analysts predict a potential 300% upside for the stock based on recent evaluations.

Cassava Sciences, Inc. (NASDAQ:SAVA - Get Free Report) CEO Richard Barry bought 190,633 shares of the firm's stock in a transaction on Thursday, September 18th. The stock was purchased at an average cost of $2.24 per share, with a total value of $427,017.92. Following the completion of the acquisition, the chief executive officer directly owned 660,195 shares of the company's stock, valued at approximately $1,478,836.80. The trade was a 40.60% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

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

• On Friday, September 19th, Richard Barry bought 47,308 shares of Cassava Sciences stock. The shares were bought at an average cost of $2.29 per share, with a total value of $108,335.32.

Cassava Sciences Stock Up 30.8%

SAVA stock traded up $0.72 during trading on Tuesday, hitting $3.04. The company had a trading volume of 16,707,994 shares, compared to its average volume of 1,478,720. Cassava Sciences, Inc. has a 52-week low of $1.15 and a 52-week high of $33.98. The firm has a market capitalization of $146.62 million, a P/E ratio of -1.19 and a beta of -2.06. The company has a 50 day simple moving average of $2.24 and a 200-day simple moving average of $2.03.

Cassava Sciences (NASDAQ:SAVA - Get Free Report) last released its earnings results on Thursday, August 14th. The company reported ($0.18) earnings per share (EPS) for the quarter. Sell-side analysts forecast that Cassava Sciences, Inc. will post -3.97 earnings per share for the current year.

Hedge Funds Weigh In On Cassava Sciences

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Two Sigma Advisers LP purchased a new position in Cassava Sciences in the 4th quarter valued at $1,432,000. Two Sigma Investments LP boosted its position in shares of Cassava Sciences by 679.1% during the 4th quarter. Two Sigma Investments LP now owns 562,082 shares of the company's stock worth $1,327,000 after purchasing an additional 489,936 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Cassava Sciences by 77.9% during the 1st 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 during the last quarter. GMT Capital Corp acquired a new position in Cassava Sciences in the 1st quarter valued at about $675,000. Finally, Northern Trust Corp grew its holdings in shares of Cassava Sciences by 2.7% during the 4th quarter. Northern Trust Corp now owns 406,562 shares of the company's stock worth $959,000 after purchasing an additional 10,782 shares during the period. 38.05% of the stock is currently owned by hedge funds and other institutional investors.

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.