Eric Schoen Sells 59,800 Shares of Cassava Sciences, Inc. (NASDAQ:SAVA) Stock

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

Cassava Sciences Stock Down 11.9 %

SAVA stock opened at $2.95 on Thursday. The firm has a market cap of $141.92 million, a price-to-earnings ratio of -2.14 and a beta of -0.86. Cassava Sciences, Inc. has a 12-month low of $2.90 and a 12-month high of $42.20. The company’s fifty day simple moving average is $23.40 and its 200 day simple moving average is $22.38.

Cassava Sciences (NASDAQ:SAVA) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.58) earnings per share for the quarter, beating the consensus estimate of ($1.37) by $0.79. During the same quarter last year, the business posted ($0.61) EPS. Research analysts expect that Cassava Sciences, Inc. will post -3.97 earnings per share for the current year.

Hedge Funds Weigh In On Cassava Sciences

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of Cassava Sciences by 1.4% during the first quarter. Vanguard Group Inc. now owns 2,356,480 shares of the company’s stock valued at $47,813,000 after purchasing an additional 31,854 shares during the period. Geode Capital Management LLC raised its holdings 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 worth $29,688,000 after acquiring an additional 41,289 shares during the last quarter. Tidal Investments LLC acquired a new stake in shares of Cassava Sciences in the 3rd quarter worth about $11,036,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Cassava Sciences by 3.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 361,797 shares of the company’s stock worth $10,648,000 after acquiring an additional 10,429 shares during the last quarter. Finally, Clear Creek Financial Management LLC raised its holdings in shares of Cassava Sciences by 5.5% in the 3rd quarter. Clear Creek Financial Management LLC now owns 153,533 shares of the company’s stock worth $4,518,000 after acquiring an additional 7,983 shares during the last quarter. Institutional investors and hedge funds own 38.05% of the company’s stock.

Analyst Upgrades and Downgrades

SAVA has been the topic of several recent analyst reports. HC Wainwright lowered shares of Cassava Sciences from a “buy” rating to a “neutral” rating and set a $116.00 target price on the stock. in a report on Tuesday, November 26th. Rodman & Renshaw restated a “buy” rating and issued a $107.00 target price on shares of Cassava Sciences in a report on Thursday, August 8th.

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.