Savara (NASDAQ:SVRA) Shares Down 6.5% – Here’s What Happened

Savara Inc. (NASDAQ:SVRA)’s stock price traded down 6.5% during mid-day trading on Friday. The company traded as low as $4.17 and last traded at $4.2450. 341,344 shares traded hands during trading, a decline of 80% from the average daily volume of 1,714,192 shares. The stock had previously closed at $4.54.

Analysts Set New Price Targets

Several research analysts have commented on SVRA shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Savara in a research note on Thursday, October 15th. Wall Street Zen downgraded Savara from a “hold” rating to a “sell” rating in a report on Sunday, October 4th. JPMorgan Chase & Co. started coverage on shares of Savara in a research report on Wednesday, October 7th. They set an “overweight” rating and a $12.00 target price on the stock. Citigroup reissued a “market outperform” rating on shares of Savara in a research report on Wednesday, October 7th. Finally, Royal Bank Of Canada set a $10.00 price target on shares of Savara in a research report on Wednesday, October 7th. Seven equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $10.25.

Savara Price Performance

The firm has a market capitalization of $863.96 million, a PE ratio of -7.27 and a beta of 0.20. The company has a debt-to-equity ratio of 0.21, a quick ratio of 10.13 and a current ratio of 10.13. The business’s 50 day moving average is $5.16 and its two-hundred day moving average is $5.37.

Savara (NASDAQ:SVRA) last announced its quarterly earnings results 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). Equities research analysts anticipate that Savara Inc. will post -0.66 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Savara

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sterling Capital Management LLC raised its stake in Savara by 842.8% during the third quarter. Sterling Capital Management LLC now owns 5,063 shares of the company’s stock valued at $26,000 after buying an additional 4,526 shares during the last quarter. Principal Financial Group Inc. purchased a new stake in Savara during the 1st quarter valued at $57,000. Sequoia Financial Advisors LLC bought a new position in shares of Savara during the second quarter valued at $69,000. E Fund Management Co. Ltd. bought a new stake in Savara in the 2nd quarter worth about $77,000. Finally, Sanctuary Advisors LLC purchased a new position in Savara in the 2nd quarter worth about $87,000. Hedge funds and other institutional investors own 87.93% of the company’s stock.

About Savara

Savara Inc is a clinical-stage biopharmaceutical company focused on developing therapies for rare respiratory diseases. The company’s work is centered on conditions with significant unmet medical needs, particularly diseases involving impaired lung function and abnormal accumulation of material in the lungs.

Savara’s lead product candidate is molgramostim, an inhaled formulation of recombinant human granulocyte-macrophage colony-stimulating factor (GM-CSF). The therapy is being developed for autoimmune pulmonary alveolar proteinosis, a rare lung disorder in which surfactant accumulates in the airspaces and interferes with breathing.