Spruce Street Capital LP Takes Position in Savara Inc. $SVRA

Spruce Street Capital LP purchased a new position in shares of Savara Inc. (NASDAQ:SVRA) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 3,452,576 shares of the company’s stock, valued at approximately $21,267,868,000. Savara accounts for about 4.2% of Spruce Street Capital LP’s holdings, making the stock its 8th largest position.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SVRA. Prudential Financial Inc. purchased a new position in shares of Savara during the 2nd quarter valued at approximately $30,000. BNP Paribas Financial Markets grew its holdings in Savara by 52.3% during the 2nd quarter. BNP Paribas Financial Markets now owns 13,473 shares of the company’s stock worth $31,000 after acquiring an additional 4,626 shares in the last quarter. Brevan Howard Capital Management LP bought a new stake in shares of Savara in the 2nd quarter worth about $33,000. Russell Investments Group Ltd. raised its stake in shares of Savara by 930.5% in the 3rd quarter. Russell Investments Group Ltd. now owns 10,480 shares of the company’s stock valued at $37,000 after purchasing an additional 9,463 shares in the last quarter. Finally, CIBC Bancorp USA Inc. bought a new position in shares of Savara during the third quarter worth about $44,000. 87.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on SVRA. Weiss Ratings reiterated a “sell (d-)” rating on shares of Savara in a research note on Friday, July 17th. Wall Street Zen cut Savara from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $10.14.

Savara Stock Performance

Shares of NASDAQ SVRA opened at $5.56 on Tuesday. Savara Inc. has a 12-month low of $3.08 and a 12-month high of $7.01. The company has a market cap of $1.14 billion, a PE ratio of -9.59 and a beta of 0.29. The stock has a 50 day simple moving average of $5.70 and a 200-day simple moving average of $5.47. The company has a current ratio of 10.13, a quick ratio of 10.13 and a debt-to-equity ratio of 0.21.

Savara (NASDAQ:SVRA) last posted its earnings results on Tuesday, August 11th. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.02). On average, equities research analysts forecast that Savara Inc. will post -0.62 EPS for the current year.

About Savara

Savara Inc (NASDAQ:SVRA) is a clinical-stage biopharmaceutical company focused on developing and commercializing therapies for rare respiratory diseases. The company specializes in in-licensing, advancing and potentially bringing to market novel treatments that address severe pulmonary conditions with high unmet medical need.

The company’s lead candidate, Molgradex (recombinant human granulocyte-macrophage colony-stimulating factor, or GM-CSF), is under regulatory review for the treatment of autoimmune pulmonary alveolar proteinosis (PAP), a rare lung disease characterized by the accumulation of surfactant.