Cassava Sciences, Inc. (NASDAQ:SAVA) CFO Sells $230,828.00 in Stock

Cassava Sciences, Inc. (NASDAQ:SAVA) CFO Eric Schoen sold 59,800 shares of Cassava Sciences stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $3.86, for a total value of $230,828.00. Following the sale, the chief financial officer now directly owns 11,500 shares in the company, valued at $44,390. The trade was a 83.87 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Cassava Sciences Price Performance

Cassava Sciences stock opened at $3.06 on Friday. The company has a market capitalization of $147.22 million, a PE ratio of -2.22 and a beta of -0.86. The business has a 50 day simple moving average of $22.83 and a 200 day simple moving average of $22.25. Cassava Sciences, Inc. has a one year low of $2.78 and a one year high of $42.20.

Cassava Sciences (NASDAQ:SAVA) last announced its earnings results on Thursday, November 7th. The company reported ($0.58) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.37) by $0.79. During the same quarter last year, the firm posted ($0.61) EPS. Equities analysts anticipate that Cassava Sciences, Inc. will post -3.97 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. HC Wainwright downgraded shares of Cassava Sciences from a “buy” rating to a “neutral” rating and set a $116.00 price target on the stock. in a research note on Tuesday, November 26th. Rodman & Renshaw reiterated a “buy” rating and set a $107.00 target price on shares of Cassava Sciences in a research report on Thursday, August 8th.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Tidal Investments LLC bought a new stake in Cassava Sciences during the 3rd quarter worth approximately $11,036,000. Geode Capital Management LLC increased its position in Cassava Sciences by 4.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,008,593 shares of the company’s stock valued at $29,688,000 after acquiring an additional 41,289 shares in the last quarter. Wellington Management Group LLP bought a new position in shares of Cassava Sciences in the third quarter worth about $605,000. BNP Paribas Financial Markets lifted its position in shares of Cassava Sciences by 150.1% during the third quarter. BNP Paribas Financial Markets now owns 8,748 shares of the company’s stock worth $257,000 after purchasing an additional 5,250 shares in the last quarter. Finally, Independent Advisor Alliance bought a new stake in shares of Cassava Sciences during the third quarter valued at approximately $208,000. 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.