Why Cassava Sciences stock is increasing after hours

Cassava Sciences Inc SAVA shares rise in extended trading on Wednesday following recent insider buying.

The Details: According to a new regulatory filing, director Richard Barry recently purchased a total of 88,841 shares of Cassava Sciences at prices ranging from $25.51 to $26.20 per action.

Barry bought about 11,500 shares on Monday for an average price of $26.13 per share, then bought another 77,276 shares for an average price of $25.76 per share on Tuesday.

In particular, HC Wainwright & Co analyst Vernon Bernardino reiterated cassava with a buy rating and price target of $124 this week.

Did you know that Benzinga tracks insider trading? View recent transactions here.

Cassava Sciences is a clinical-stage biotechnology company focused on Alzheimer's disease.

SAVA Price Action: Cassava has a 52-week high of $51.59 and a 52-week low of $13.84.

The stock is up 9.89% after hours to $27.44 at press time, according to Benzinga Pro.

Photo: Gerd Altmann from Pixabay.

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