Cassava Sciences (NASDAQ:FLNA) CEO Purchases $78,196.44 in Stock

Cassava Sciences, Inc. (NASDAQ:FLNA) CEO Richard Barry bought 93,091 shares of Cassava Sciences stock in a transaction that occurred on Monday, September 28th. The stock was bought at an average price of $0.84 per share, for a total transaction of $78,196.44. Following the completion of the acquisition, the chief executive officer directly owned 1,031,151 shares of the company’s stock, valued at $866,166.84. The trade was a 9.92% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at 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 purchased at an average cost of $0.92 per share, with a total value of $92,000.00.
• On Tuesday, September 29th, Richard Barry purchased 206,813 shares of Cassava Sciences stock. The shares were purchased at an average price of $0.90 per share, with a total value of $186,131.70.

Cassava Sciences Stock Performance

Shares of NASDAQ FLNA opened at $0.93 on Friday. The company has a market capitalization of $44.97 million, a P/E ratio of -1.07 and a beta of -0.65. Cassava Sciences, Inc. has a 52-week low of $0.67 and a 52-week high of $4.98. The company’s 50 day moving average price is $0.88 and its 200-day moving average price is $1.25.

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

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

A hedge fund recently raised its position in Cassava Sciences stock. Caitong International Asset Management Co. Ltd boosted its position in 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 SEC. The institutional investor owned 13,606 shares of the company’s stock after acquiring an additional 11,200 shares during the period. Caitong International Asset Management Co. Ltd’s holdings in Cassava Sciences were worth $27,000 as of its most recent SEC filing. 38.05% of the stock is owned by institutional investors.

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.