Savara (NASDAQ:SVRA) Trading Down 5.4% – Here’s Why

Savara Inc. (NASDAQ:SVRA)’s stock price dropped 5.4% on Thursday . The stock traded as low as $5.37 and last traded at $5.3950. Approximately 264,368 shares were traded during mid-day trading, a decline of 84% from the average daily volume of 1,609,659 shares. The stock had previously closed at $5.70.

Analysts Set New Price Targets

Several analysts recently issued reports on SVRA shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Savara in a research note on Friday, July 17th. Wall Street Zen raised shares of Savara from a “sell” rating to a “hold” rating in a research note on Saturday, June 13th. Finally, Oppenheimer initiated coverage on Savara in a report on Friday, April 24th. They set an “outperform” rating and a $11.00 target price on the stock. One 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 company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $10.14.

Savara Price Performance

The firm has a market cap of $1.10 billion, a price-to-earnings ratio of -9.27 and a beta of 0.29. The company has a current ratio of 13.47, a quick ratio of 13.47 and a debt-to-equity ratio of 0.17. The stock’s fifty day moving average price is $5.65 and its 200-day moving average price is $5.49.

Savara (NASDAQ:SVRA) last issued its quarterly earnings data on Tuesday, August 11th. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.02). As a group, equities research analysts forecast that Savara Inc. will post -0.57 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Savara

A number of hedge funds have recently modified their holdings of SVRA. Prudential Financial Inc. acquired a new stake in shares of Savara during the 2nd quarter worth about $30,000. BNP Paribas Financial Markets raised its holdings in Savara by 52.3% in the 2nd quarter. BNP Paribas Financial Markets now owns 13,473 shares of the company’s stock valued at $31,000 after buying an additional 4,626 shares during the period. Brevan Howard Capital Management LP acquired a new position in Savara in the second quarter valued at about $33,000. Russell Investments Group Ltd. boosted its stake in Savara by 930.5% during the third quarter. Russell Investments Group Ltd. now owns 10,480 shares of the company’s stock worth $37,000 after buying an additional 9,463 shares during the period. Finally, CIBC Bancorp USA Inc. purchased a new position in Savara during the third quarter worth about $44,000. 87.93% of the stock is currently owned by hedge funds and other institutional investors.

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.