Cassava Sciences (NASDAQ:SAVA) CEO Acquires $108,335.32 in Stock

Key Points

• Richard Barry, CEO of Cassava Sciences, purchased 47,308 shares of the company at an average cost of $2.29 per share, increasing his total ownership to 707,503 shares valued at approximately $1.62 million.
• The stock has experienced significant volatility, with a one-year low of $1.15 and a high of $33.98, and currently trades around $2.32 with a market cap of $112.07 million.
• Institutional investors collectively own 38.05% of Cassava Sciences, reflecting recent interest with multiple firms making new stakes in the company during the second quarter.

Cassava Sciences, Inc. (NASDAQ:SAVA - Get Free Report) CEO Richard Barry bought 47,308 shares of the company's stock in a transaction on Friday, September 19th. The shares were bought at an average price of $2.29 per share, for a total transaction of $108,335.32. Following the transaction, the chief executive officer owned 707,503 shares of the company's stock, valued at approximately $1,620,181.87. This represents a 7.17% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

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

• 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 Stock Up 30.8%

Shares of NASDAQ SAVA traded up $0.72 on Tuesday, reaching $3.04. 16,707,994 shares of the company's stock traded hands, compared to its average volume of 1,478,720. The company has a market cap of $146.62 million, a price-to-earnings ratio of -1.19 and a beta of -2.06. The business's 50 day simple moving average is $2.24 and its two-hundred day simple moving average is $2.03. 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 posted its earnings results on Thursday, August 14th. The company reported ($0.18) EPS for the quarter. Analysts forecast that Cassava Sciences, Inc. will post -3.97 earnings per share for the current fiscal year.

Institutional Trading of Cassava Sciences

Hedge funds have recently bought and sold shares of the stock. TT Capital Management LLC purchased a new stake in Cassava Sciences during the second quarter valued at approximately $28,000. Jump Financial LLC acquired a new position in shares of Cassava Sciences in the 2nd quarter worth approximately $50,000. Marshall Wace LLP purchased a new position in shares of Cassava Sciences in the 2nd quarter valued at $130,000. Aristides Capital LLC purchased a new stake in shares of Cassava Sciences in the second quarter valued at about $29,000. Finally, Catalyst Funds Management Pty Ltd acquired a new position in shares of Cassava Sciences in the second quarter valued at approximately $34,000. Hedge funds and other institutional investors own 38.05% of the company's stock.

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.