Cassava Sciences (NASDAQ:FLNA) Releases Earnings Results

Cassava Sciences (NASDAQ:FLNA) posted its quarterly earnings data on Thursday. The company reported ($0.22) EPS for the quarter, FiscalAI reports.

Cassava Sciences Price Performance

FLNA stock traded up $0.00 during trading on Friday, reaching $0.45. 606,710 shares of the stock traded hands, compared to its average volume of 363,835. The firm has a market capitalization of $21.87 million, a PE ratio of -0.52 and a beta of -0.48. The business’s 50 day moving average price is $0.75 and its 200-day moving average price is $1.35. Cassava Sciences has a 52-week low of $0.43 and a 52-week high of $3.45.

Analyst Upgrades and Downgrades

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

Insider Activity at Cassava Sciences

In other news, CEO Richard Barry acquired 206,813 shares of the business’s stock in a transaction dated Tuesday, September 29th. The shares were bought at an average cost of $0.90 per share, for a total transaction of $186,131.70. Following the acquisition, the chief executive officer directly owned 1,237,964 shares in the company, valued at $1,114,167.60. This trade represents a 20.06% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last quarter, insiders bought 399,904 shares of company stock valued at $356,328. Company insiders own 4.60% of the company’s stock.

Cassava Sciences Company Profile

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.