Savara (NASDAQ:SVRA) Stock Price Down 5.3% – Here’s What Happened

Savara Inc (NASDAQ:SVRA) shares fell 5.3% on Thursday . The company traded as low as $2.90 and last traded at $2.93. 392,669 shares changed hands during mid-day trading, a decline of 58% from the average session volume of 929,169 shares. The stock had previously closed at $3.09.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Evercore ISI reiterated an “in-line” rating and set a $5.00 target price (down from $7.00) on shares of Savara in a report on Wednesday, November 13th. Wells Fargo & Company assumed coverage on Savara in a research note on Friday, December 20th. They set an “overweight” rating and a $8.00 price objective for the company. JMP Securities reissued a “market outperform” rating and issued a $9.00 target price on shares of Savara in a report on Thursday, December 19th. Finally, HC Wainwright reduced their price target on Savara from $10.00 to $6.00 and set a “buy” rating for the company in a report on Wednesday, November 13th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $9.86.

Savara Price 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 stock has a market capitalization of $499.41 million, a PE ratio of -6.77 and a beta of 0.68. The firm’s fifty day moving average price is $3.29 and its two-hundred day moving average price is $3.88.

Savara (NASDAQ:SVRA) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.11) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.11). On average, equities analysts predict that Savara Inc will post -0.45 earnings per share for the current year.

Insiders Place Their Bets

In other Savara news, Director Joseph S. Mccracken purchased 20,000 shares of the firm’s stock in a transaction on Tuesday, November 19th. The shares were acquired at an average cost of $2.95 per share, for a total transaction of $59,000.00. Following the completion of the transaction, the director now owns 210,837 shares of the company’s stock, valued at approximately $621,969.15. The trade was a 10.48 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Matthew Pauls sold 54,702 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $3.31, for a total transaction of $181,063.62. Following the sale, the chief executive officer now directly owns 1,536,379 shares of the company’s stock, valued at approximately $5,085,414.49. The trade was a 3.44 % decrease in their position. The disclosure for this sale can be found here. Insiders own 5.13% of the company’s stock.

Institutional Trading of Savara

A number of hedge funds and other institutional investors have recently bought and sold shares of SVRA. Frazier Life Sciences Management L.P. grew its stake in shares of Savara by 103.9% during the 2nd quarter. Frazier Life Sciences Management L.P. now owns 8,157,385 shares of the company’s stock valued at $32,874,000 after acquiring an additional 4,157,385 shares during the period. Nantahala Capital Management LLC increased its stake in shares of Savara by 198.2% in the second quarter. Nantahala Capital Management LLC now owns 5,180,951 shares of the company’s stock worth $20,879,000 after purchasing an additional 3,443,541 shares in the last quarter. Farallon Capital Management LLC increased its stake in shares of Savara by 90.5% in the second quarter. Farallon Capital Management LLC now owns 4,560,000 shares of the company’s stock worth $18,377,000 after purchasing an additional 2,165,701 shares in the last quarter. First Light Asset Management LLC bought a new stake in shares of Savara during the 2nd quarter valued at $8,069,000. Finally, Wellington Management Group LLP lifted its stake in shares of Savara by 22.9% during the 3rd quarter. Wellington Management Group LLP now owns 8,624,012 shares of the company’s stock valued at $36,566,000 after buying an additional 1,608,522 shares in 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.