Why Cassava Sciences Stock Is Surging After Hours

Cassava Sciences Inc SAVA shares are rising in extended trading Wednesday in the wake of 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 share.

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

Notably, HC Wainwright & Co analyst Vernon Bernardino reiterated Cassava with a Buy rating and a price target of $124 this week.

Did You Know Benzinga Tracks Insider Trading? See Recent Trades 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 was up 9.89% after hours at $27.44 at time of publication, according to Benzinga Pro.

Photo: Gerd Altmann from Pixabay.