Insider Selling: Cassava Sciences, Inc. (NASDAQ:SAVA) Insider Sells 4,000 Shares of Stock

Cassava Sciences, Inc. (NASDAQ:SAVA) insider James William Kupiec sold 4,000 shares of the stock in a transaction on Friday, November 29th. The shares were sold at an average price of $3.87, for a total value of $15,480.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Cassava Sciences Stock Down 2.8 %

Shares of NASDAQ:SAVA traded down $0.09 during midday trading on Tuesday, reaching $3.35. 7,889,972 shares of the company traded hands, compared to its average volume of 10,487,342. Cassava Sciences, Inc. has a 12 month low of $3.25 and a 12 month high of $42.20. The firm has a market capitalization of $161.17 million, a price-to-earnings ratio of -2.43 and a beta of -0.86. The firm’s fifty day moving average price is $24.48 and its two-hundred day moving average price is $22.66.

Cassava Sciences (NASDAQ:SAVA) last released its quarterly 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 in the prior year, the company earned ($0.61) earnings per share. Analysts forecast that Cassava Sciences, Inc. will post -3.97 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Cassava Sciences

Hedge funds have recently modified their holdings of the company. Tidal Investments LLC purchased a new stake in shares of Cassava Sciences in the third quarter valued at $11,036,000. Geode Capital Management LLC raised its position in shares of 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 purchasing an additional 41,289 shares during the last quarter. Wellington Management Group LLP purchased a new position in shares of Cassava Sciences in the 3rd quarter valued at approximately $605,000. BNP Paribas Financial Markets raised its position in shares of Cassava Sciences by 150.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 8,748 shares of the company’s stock valued at $257,000 after purchasing an additional 5,250 shares during the last quarter. Finally, Independent Advisor Alliance purchased a new position in shares of Cassava Sciences in the 3rd quarter valued at approximately $208,000. 38.05% of the stock is currently owned by institutional investors.

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.