Cassava Sciences (NASDAQ:FLNA) CEO Richard Barry Purchases 206,813 Shares of Company Stock

Cassava Sciences, Inc. (NASDAQ:FLNA) CEO Richard Barry acquired 206,813 shares of the company’s stock in a transaction dated Tuesday, September 29th. The shares were bought at an average cost of $0.90 per share, with a total value 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. The trade was a 20.06% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

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

Cassava Sciences Stock Performance

Cassava Sciences stock opened at $0.89 on Thursday. Cassava Sciences, Inc. has a 1 year low of $0.67 and a 1 year high of $4.98. The firm has a 50 day moving average price of $0.88 and a 200 day moving average price of $1.26. The company has a market cap of $42.80 million, a price-to-earnings ratio of -1.02 and a beta of -0.69.

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

Institutional Investors Weigh In On Cassava Sciences

A hedge fund recently raised its stake in Cassava Sciences stock. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Cassava Sciences, Inc. (NASDAQ:FLNA) by 465.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,606 shares of the company’s stock after acquiring an additional 11,200 shares during the quarter. Caitong International Asset Management Co. Ltd’s holdings in Cassava Sciences were worth $27,000 as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 38.05% of the company’s stock.

Analyst Ratings Changes

FLNA has been the subject of a number of research reports. Weiss Ratings raised Cassava Sciences from a “sell (e+)” rating to a “sell (d-)” rating in a research 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 company. According to MarketBeat.com, Cassava Sciences presently has a consensus rating of “Hold” and a consensus 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.