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Tuesday 9/23 Insider Buying Report: SAVA, BCDA

As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy -- they expect to make money. So let's look at two noteworthy recent insider buys.

At Cassava Sciences (SAVA), a filing with the SEC revealed that on Friday, CEO Richard Barry purchased 237,941 shares of SAVA, at a cost of $2.25 each, for a total investment of $534,743. Barry was up about 28.6% on the buy at the high point of today's trading session, with SAVA trading as high as $2.89 in trading on Tuesday. Cassava Sciences is trading up about 19.8% on the day Tuesday. This purchase marks the first one filed by Barry in the past year.

And at BioCardia (BCDA), there was insider buying on Friday, by Director Simon H. Stertzer who bought 398,400 shares for a cost of $1.25 each, for a trade totaling $498,000. Before this latest buy, Stertzer purchased BCDA on 4 other occasions during the past year, for a total cost of $440,513 at an average of $2.03 per share. BioCardia is trading up about 11.7% on the day Tuesday.

Tuesday 9/23 Insider Buying Report: SAVA, BCDAVIDEO: Tuesday 9/23 Insider Buying Report: SAVA, BCDA

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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