Savara (NASDAQ:SVRA) Shares Gap Up on Analyst Upgrade

Posted by Defense World Staff on Aug 15th, 2023

Savara Inc (NASDAQ:SVRA – Get Free Report) gapped up before the market opened on Monday after HC Wainwright raised their price target on the stock from $3.00 to $6.00. The stock had previously closed at $3.88, but opened at $3.97. HC Wainwright currently has a buy rating on the stock. Savara shares last traded at $3.90, with a volume of 33,117 shares traded.

Separately, Jefferies Financial Group raised shares of Savara from a “hold” rating to a “buy” rating and boosted their price objective for the company from $2.00 to $4.00 in a report on Tuesday, May 16th.

Check Out Our Latest Research Report on Savara

Insider Buying and Selling at Savara

In other news, Director David A. Ramsay acquired 37,124 shares of the business’s stock in a transaction that occurred on Friday, May 26th. The stock was acquired at an average price of $2.63 per share, with a total value of $97,636.12. Following the completion of the transaction, the director now directly owns 2,201,142 shares of the company’s stock, valued at approximately $5,789,003.46. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Savara news, Director David A. Ramsay bought 50,000 shares of Savara stock in a transaction on Wednesday, May 24th. The shares were purchased at an average price of $2.56 per share, with a total value of $128,000.00. Following the acquisition, the director now owns 2,151,142 shares in the company, valued at approximately $5,506,923.52. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director David A. Ramsay bought 37,124 shares of the firm’s stock in a transaction on Friday, May 26th. The stock was acquired at an average price of $2.63 per share, for a total transaction of $97,636.12. Following the transaction, the director now owns 2,201,142 shares of the company’s stock, valued at $5,789,003.46. The disclosure for this purchase can be found here. Insiders purchased 426,957 shares of company stock valued at $1,244,680 in the last three months. Corporate insiders own 4.58% of the company’s stock.

Institutional Investors Weigh In On Savara

Hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its position in Savara by 369.0% in the second quarter. BlackRock Inc. now owns 4,898,576 shares of the company’s stock valued at $15,651,000 after buying an additional 3,854,198 shares in the last quarter. Jennison Associates LLC bought a new stake in shares of Savara during the second quarter worth $8,544,000. VR Adviser LLC grew its stake in shares of Savara by 39.4% during the fourth quarter. VR Adviser LLC now owns 6,351,531 shares of the company’s stock worth $9,845,000 after buying an additional 1,796,493 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC bought a new stake in shares of Savara during the third quarter worth $1,887,000. Finally, State Street Corp grew its stake in shares of Savara by 400.9% during the second quarter. State Street Corp now owns 1,342,562 shares of the company’s stock worth $4,289,000 after buying an additional 1,074,551 shares during the last quarter. 73.16% of the stock is owned by institutional investors.

Savara Trading Down 1.5 %

The business’s 50 day simple moving average is $3.23 and its two-hundred day simple moving average is $2.58. The stock has a market cap of $516.35 million, a P/E ratio of -13.64 and a beta of 0.89. The company has a quick ratio of 18.33, a current ratio of 18.33 and a debt-to-equity ratio of 0.30.

Savara (NASDAQ:SVRA – Get Free Report) last posted its earnings results on Monday, May 15th. The company reported ($0.07) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.07). As a group, analysts expect that Savara Inc will post -0.3 EPS for the current year.

Savara Company Profile

(Get Free Report)

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.