Why Cassava Sciences Stock Is Soaring After Hours

Cassava Sciences Inc SAVA shares are trading higher in Tuesday's after-hours session after new filings showed recent insider buying. 

According to a Form 4 filing with the SEC, Cassava director Sanford Robertson purchased 100,000 shares at an average price of $20.69. The shares were purchased in multiple transactions on Aug. 12 at prices ranging from $19.79 to $21.31 per share.

According to a separate Form 4 filing, Cassava CFO Eric Schoen purchased 2,500 shares for $19.95 per share on Aug. 12.

Cassava Sciences is a clinical-stage biotechnology company engaged in developing a scientific approach for the treatment and detection of Alzheimer's disease.

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SAVA Price Action: Cassava has a 52-week high of $62.49 and a 52-week low of $13.84.

The stock was up 31.60% in after-hours at $26.59 at press time, according to Benzinga Pro.

Photo: Konstantin Kolosov from Pixabay.