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Why Cassava Sciences Stock Is Bolting Higher Today

TheMotleyFool

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Why Cassava Sciences Stock Is Bolting Higher TodayPhoto, wide shot, wide-angle lens, Clinical research organization, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Michael Light: https://img.theapi.app/temp/c28f6640-54ba-4d2b-afbe-b5fd3b0ee19e.png

Shares of the clinical-stage biotech Cassava Sciences (NASDAQ: SAVA) rose by as much as 15% in pre-market trading Tuesday morning. The small-cap company's shares are perking up today in response to a fairly sizable insider buy by board member Sanford Robertson.

Last Friday, Robertson reportedly purchased 36,281 shares at an average price of $8.92 per share, according to a Form 4 filed with the Securities and Exchange Commission. Per the filing, this particular board member now owns a whopping 912,623 shares after this latest acquisition.

Image source: Getty Images.

Source Fool.com

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