Cassava Sciences (NASDAQ:FLNA) Issues Quarterly Earnings Results

Cassava Sciences (NASDAQ:FLNA) announced its earnings results on Thursday. The company reported ($0.22) earnings per share (EPS) for the quarter, FiscalAI reports.

Cassava Sciences Stock Performance

FLNA traded down $0.02 during trading on Friday, hitting $0.43. The stock had a trading volume of 470,637 shares, compared to its average volume of 962,707. The company has a market capitalization of $20.77 million, a PE ratio of -0.49 and a beta of -0.48. Cassava Sciences has a twelve month low of $0.43 and a twelve month high of $3.45. The stock has a 50 day simple moving average of $0.76 and a two-hundred day simple moving average of $1.35.

Analyst Ratings Changes

Separately, Weiss Ratings downgraded Cassava Sciences from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, October 9th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Cassava Sciences presently has a consensus rating of “Hold” and a consensus price target of $5.00.

Insider Activity

In other Cassava Sciences news, CEO Richard Barry acquired 206,813 shares of the firm’s stock in a transaction dated Tuesday, September 29th. The stock was purchased at an average price of $0.90 per share, for a total transaction of $186,131.70. Following the acquisition, the chief executive officer owned 1,237,964 shares in the company, valued at approximately $1,114,167.60. This trade represents a 20.06% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders acquired 399,904 shares of company stock worth $356,328 over the last 90 days. Corporate insiders own 4.60% of the company’s stock.

About Cassava Sciences

Cassava Sciences, Inc is a clinical-stage biopharmaceutical company focused on developing treatments and diagnostic technologies for neurodegenerative diseases, particularly Alzheimer’s disease. The company’s research platform centers on filamin A, a scaffolding protein that Cassava believes may contribute to disease-related signaling when altered.

Cassava’s primary drug candidate has been simufilam, an investigational oral therapy designed to modify altered filamin A and potentially address biological processes associated with Alzheimer’s disease.