Cassava Sciences (NASDAQ:FLNA) CEO Buys $186,131.70 in Stock

Cassava Sciences, Inc. (NASDAQ:FLNA) CEO Richard Barry acquired 206,813 shares of the company’s stock in a transaction on Tuesday, September 29th. The stock was bought at an average price of $0.90 per share, for a total transaction of $186,131.70. Following the purchase, the chief executive officer owned 1,237,964 shares in the company, valued at approximately $1,114,167.60. This trade represents a 20.06% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Wednesday, September 30th, Richard Barry bought 100,000 shares of Cassava Sciences stock. The shares were bought at an average cost of $0.92 per share, with a total value of $92,000.00.
• On Monday, September 28th, Richard Barry purchased 93,091 shares of Cassava Sciences stock. The shares were bought at an average price of $0.84 per share, for a total transaction of $78,196.44.

Cassava Sciences Trading Down 3.5%

NASDAQ FLNA opened at $0.93 on Friday. Cassava Sciences, Inc. has a 1-year low of $0.67 and a 1-year high of $4.98. The company has a market capitalization of $44.97 million, a PE ratio of -1.07 and a beta of -0.65. The firm’s fifty day simple moving average is $0.88 and its 200-day simple moving average is $1.25.

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

Institutional Investors Weigh In On Cassava Sciences

An institutional investor recently raised its stake in Cassava Sciences stock. Caitong International Asset Management Co. Ltd raised its stake in shares of Cassava Sciences, Inc. (NASDAQ:FLNA) by 465.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,606 shares of the company’s stock after buying an additional 11,200 shares during the period. 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 and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on FLNA shares. Weiss Ratings raised Cassava Sciences from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, September 22nd. Wall Street Zen lowered shares of Cassava Sciences from a “hold” rating to a “sell” rating in a research report on Saturday, June 6th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $5.00.

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.