Savara (NASDAQ:SVRA) Trading Down 3.2% – Here’s What Happened

Savara Inc (NASDAQ:SVRA)’s stock price dropped 3.2% during trading on Friday . The company traded as low as $3.34 and last traded at $3.36. Approximately 61,820 shares were traded during trading, a decline of 95% from the average daily volume of 1,250,333 shares. The stock had previously closed at $3.47.

Analyst Ratings Changes

SVRA has been the topic of a number of research reports. Evercore ISI restated an “in-line” rating and set a $5.00 price target (down from $7.00) on shares of Savara in a research note on Wednesday, November 13th. HC Wainwright reduced their price objective on Savara from $10.00 to $6.00 and set a “buy” rating on the stock in a research note on Wednesday, November 13th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $9.00 price objective on shares of Savara in a research note on Tuesday, October 1st. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $10.17.

Savara Stock Performance

The company has a quick ratio of 17.70, a current ratio of 17.70 and a debt-to-equity ratio of 0.13. The firm has a 50 day moving average price of $3.68 and a 200-day moving average price of $4.09.

Savara (NASDAQ:SVRA) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.11) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.11). As a group, analysts anticipate that Savara Inc will post -0.45 earnings per share for the current year.

Insider Buying and Selling at Savara

In other news, Director Joseph S. Mccracken acquired 20,000 shares of the company’s stock in a transaction on Tuesday, November 19th. The shares were bought at an average price of $2.95 per share, with a total value of $59,000.00. Following the completion of the acquisition, the director now owns 210,837 shares in the company, valued at $621,969.15. This trade represents a 10.48 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 5.13% of the stock is owned by insiders.

Hedge Funds Weigh In On Savara

Several hedge funds have recently made changes to their positions in SVRA. Frazier Life Sciences Management L.P. grew its holdings in shares of Savara by 103.9% during the second quarter. Frazier Life Sciences Management L.P. now owns 8,157,385 shares of the company’s stock worth $32,874,000 after purchasing an additional 4,157,385 shares during the last quarter. Nantahala Capital Management LLC grew its holdings in shares of Savara by 198.2% during the second quarter. Nantahala Capital Management LLC now owns 5,180,951 shares of the company’s stock worth $20,879,000 after buying an additional 3,443,541 shares during the last quarter. Farallon Capital Management LLC grew its holdings in shares of Savara by 90.5% during the second quarter. Farallon Capital Management LLC now owns 4,560,000 shares of the company’s stock worth $18,377,000 after buying an additional 2,165,701 shares during the last quarter. First Light Asset Management LLC purchased a new position in shares of Savara during the second quarter worth about $8,069,000. Finally, Wellington Management Group LLP grew its holdings in shares of Savara by 22.9% during the third quarter. Wellington Management Group LLP now owns 8,624,012 shares of the company’s stock worth $36,566,000 after buying an additional 1,608,522 shares during the last quarter. Hedge funds and other institutional investors own 87.93% of the company’s stock.

About Savara

Savara Inc, formerly Mast Therapeutics, Inc, is a clinical-stage pharmaceutical company. The Company is focused on the development and commercialization of novel therapies for the treatment of patients with rare respiratory diseases. Its pipeline includes AeroVanc, Molgradex and AIR001. AeroVanc is an inhaled formulation of vancomycin, which the Company is developing for the treatment of persistent methicillin-resistant Staphylococcus aureus, lung infection in cystic fibrosis patients.