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

Key Points

• CEO Richard Barry of Cassava Sciences acquired 7,172 shares at an average price of $2.28, increasing his total holdings to 714,675 shares valued at approximately $1.63 million.
• Cassava Sciences has seen recent activity from hedge funds, with several acquiring new positions in the company during the second quarter, indicating increased institutional interest.
• The company's stock price increased by $1.09 to $3.41, with a market cap of $164.74 million and reported earnings of ($0.18) per share for the last quarter.

Cassava Sciences, Inc. (NASDAQ:SAVA - Get Free Report) CEO Richard Barry acquired 7,172 shares of the company's stock in a transaction that occurred on Monday, September 22nd. The shares were acquired at an average cost of $2.28 per share, for a total transaction of $16,352.16. Following the purchase, the chief executive officer directly owned 714,675 shares in the company, valued at $1,629,459. This trade represents a 1.01% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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 purchased at an average price of $2.29 per share, with a total value of $108,335.32.
• On Thursday, September 18th, Richard Barry bought 190,633 shares of Cassava Sciences stock. The shares were purchased at an average price of $2.24 per share, with a total value of $427,017.92.

Cassava Sciences Price Performance

SAVA stock traded up $1.09 during trading hours on Tuesday, reaching $3.41. 44,504,282 shares of the stock were exchanged, compared to its average volume of 1,627,773. The firm's 50-day moving average is $2.24 and its 200-day moving average is $2.03. The company has a market cap of $164.74 million, a price-to-earnings ratio of -1.34 and a beta of -2.06. Cassava Sciences, Inc. has a 12 month low of $1.15 and a 12 month high of $33.98.

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. As a group, equities research analysts forecast that Cassava Sciences, Inc. will post -3.97 earnings per share for the current year.

Hedge Funds Weigh In On Cassava Sciences

Hedge funds have recently modified their holdings of the stock. TT Capital Management LLC bought a new position in shares of Cassava Sciences in the 2nd quarter valued at about $28,000. Aristides Capital LLC bought a new position in shares of Cassava Sciences in the 2nd quarter valued at about $29,000. Ground Swell Capital LLC bought a new position in shares of Cassava Sciences in the 2nd quarter valued at about $31,000. Catalyst Funds Management Pty Ltd bought a new position in shares of Cassava Sciences in the 2nd quarter valued at about $34,000. Finally, Jump Financial LLC bought a new position in shares of Cassava Sciences in the 2nd quarter valued at about $50,000. 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.

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