Cassava Sciences, Inc. (NASDAQ:SAVA – Get Rating) CFO Eric Schoen bought 2,500 shares of the stock in a transaction dated Friday, August 12th. The shares were acquired at an average price of $19.95 per share, with a total value of $49,875.00. Following the completion of the purchase, the chief financial officer now directly owns 19,800 shares of the company’s stock, valued at $395,010. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
Cassava Sciences Stock Performance
Shares of SAVA stock traded up $0.02 during trading hours on Tuesday, hitting $20.21. 942,350 shares of the company were exchanged, compared to its average volume of 1,664,437. The stock has a market capitalization of $810.38 million, a price-to-earnings ratio of -16.07 and a beta of 0.68. Cassava Sciences, Inc. has a one year low of $13.84 and a one year high of $123.37. The business’s 50-day simple moving average is $23.89 and its two-hundred day simple moving average is $29.70.
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the company. State Street Corp raised its position in shares of Cassava Sciences by 8.0% during the 1st quarter. State Street Corp now owns 1,053,956 shares of the company’s stock valued at $39,144,000 after acquiring an additional 77,830 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Cassava Sciences by 2.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 273,962 shares of the company’s stock worth $10,175,000 after buying an additional 6,462 shares during the last quarter. Think Investments LP acquired a new position in shares of Cassava Sciences in the 4th quarter valued at about $8,797,000. Principal Financial Group Inc. grew its position in shares of Cassava Sciences by 12.5% during the 4th quarter. Principal Financial Group Inc. now owns 145,538 shares of the company’s stock valued at $6,360,000 after buying an additional 16,172 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Cassava Sciences by 0.6% during the first quarter. Bank of New York Mellon Corp now owns 122,993 shares of the company’s stock worth $4,568,000 after acquiring an additional 712 shares during the period. Institutional investors and hedge funds own 34.01% of the company’s stock.
Wall Street Analyst Weigh In
Ad ProTrading Research
4 Bear-Proof Stocks
Historically, things like precious metals, consumer staples, commodities, utilities, health care and transportation stocks have performed well in a bear market.
That’s why you should consider these four bear-proof stocks for the weeks and months ahead.
SAVA has been the subject of a number of analyst reports. HC Wainwright reissued a “buy” rating on shares of Cassava Sciences in a report on Thursday, August 4th. B. Riley reduced their target price on Cassava Sciences from $58.00 to $44.00 and set a “buy” rating for the company in a research note on Thursday, August 11th.
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 2b clinical trial; and investigational diagnostic product candidate is SavaDx, a blood-based biomarker/diagnostic to detect Alzheimer’s disease.
Further Reading
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Cassava Sciences, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Cassava Sciences wasn’t on the list.
While Cassava Sciences currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
Read More: Eric Schoen Purchases 2,500 Shares of Cassava Sciences, Inc. (NASDAQ:SAVA) Stock