Why Cassava Sciences Stock Is Bolting Higher Today

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. 

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Source Fool.com