Cassava Sciences Target of Unusually Large Options Trading (NASDAQ:SAVA)

This post was originally published on this site

Cassava Sciences, Inc. (NASDAQ:SAVAGet Rating) was the recipient of some unusual options trading on Friday. Traders bought 21,767 call options on the stock. This is an increase of approximately 56% compared to the average daily volume of 13,986 call options.

Insider Buying and Selling at Cassava Sciences

In other news, insider James William Kupiec purchased 2,500 shares of the business’s stock in a transaction on Tuesday, August 23rd. The stock was purchased at an average price of $24.44 per share, with a total value of $61,100.00. Following the acquisition, the insider now directly owns 2,500 shares in the company, valued at approximately $61,100. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Director Sanford Robertson bought 100,000 shares of the company’s stock in a transaction dated Friday, August 12th. The stock was acquired at an average cost of $20.69 per share, with a total value of $2,069,000.00. Following the acquisition, the director now owns 1,024,765 shares in the company, valued at approximately $21,202,387.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider James William Kupiec bought 2,500 shares of the company’s stock in a transaction dated Tuesday, August 23rd. The stock was bought at an average cost of $24.44 per share, with a total value of $61,100.00. Following the completion of the acquisition, the insider now owns 2,500 shares in the company, valued at approximately $61,100. The disclosure for this purchase can be found here. Insiders bought a total of 141,159 shares of company stock valued at $3,040,198 in the last quarter. Corporate insiders own 10.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of SAVA. Envestnet Asset Management Inc. bought a new position in Cassava Sciences in the 4th quarter valued at $219,000. ProShare Advisors LLC boosted its position in Cassava Sciences by 71.5% in the 4th quarter. ProShare Advisors LLC now owns 8,400 shares of the company’s stock valued at $366,000 after buying an additional 3,501 shares during the last quarter. Raymond James & Associates boosted its position in Cassava Sciences by 14.7% in the 4th quarter. Raymond James & Associates now owns 43,691 shares of the company’s stock valued at $1,909,000 after buying an additional 5,604 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its position in Cassava Sciences by 44.2% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 8,265 shares of the company’s stock valued at $361,000 after buying an additional 2,534 shares during the last quarter. Finally, BNP Paribas Arbitrage SA boosted its position in Cassava Sciences by 199.1% in the 4th quarter. BNP Paribas Arbitrage SA now owns 20,554 shares of the company’s stock valued at $898,000 after buying an additional 13,682 shares during the last quarter. 24.36% of the stock is currently owned by institutional investors.

Cassava Sciences Price Performance

SAVA stock opened at $32.80 on Friday. The stock has a market capitalization of $1.32 billion, a price-to-earnings ratio of -21.72 and a beta of 0.51. The business has a fifty day moving average price of $23.47 and a 200 day moving average price of $27.24. Cassava Sciences has a fifty-two week low of $13.84 and a fifty-two week high of $100.00.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. B. Riley dropped their target price on Cassava Sciences from $58.00 to $44.00 and set a “buy” rating for the company in a report on Thursday, August 11th. HC Wainwright reaffirmed a “buy” rating on shares of Cassava Sciences in a report on Thursday, August 4th.

About Cassava Sciences

(Get Rating)

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.

See Also

Receive News & Ratings for Cassava Sciences Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Cassava Sciences and related companies with MarketBeat.com’s FREE daily email newsletter.