Savara (NASDAQ:SVRA) Stock Price Up 6.8% – Here’s What Happened

Shares of Savara Inc. (NASDAQ:SVRA) shot up 6.8% during mid-day trading on Thursday . The company traded as high as $5.74 and last traded at $5.7150. 553,116 shares changed hands during trading, a decline of 61% from the average session volume of 1,422,530 shares. The stock had previously closed at $5.35.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. JMP Securities raised their target price on shares of Savara from $8.00 to $11.00 and gave the company a “market outperform” rating in a research report on Thursday, October 23rd. Citizens Jmp dropped their price target on Savara from $11.00 to $10.00 and set a “market outperform” rating for the company in a research note on Thursday, November 13th. UBS Group set a $10.00 price objective on Savara in a report on Tuesday, December 23rd. Citigroup reaffirmed an “outperform” rating on shares of Savara in a report on Thursday, October 23rd. Finally, HC Wainwright increased their target price on Savara from $8.00 to $10.00 and gave the company a “buy” rating in a research report on Tuesday, December 23rd. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $9.13.

Savara Stock Performance

The company’s 50-day moving average price is $5.96 and its two-hundred day moving average price is $4.55. The company has a market capitalization of $1.14 billion, a price-to-earnings ratio of -10.57 and a beta of 0.34. The company has a debt-to-equity ratio of 0.32, a current ratio of 7.65 and a quick ratio of 7.65.

Savara (NASDAQ:SVRA) last issued its quarterly earnings results on Wednesday, November 12th. The company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.01). On average, equities research analysts anticipate that Savara Inc. will post -0.45 EPS for the current fiscal year.

Hedge Funds Weigh In On Savara

Several institutional investors have recently added to or reduced their stakes in the business. Marshall Wace LLP bought a new position in shares of Savara in the fourth quarter valued at $27,496,000. The Manufacturers Life Insurance Company raised its holdings in shares of Savara by 13.2% in the 4th quarter. The Manufacturers Life Insurance Company now owns 43,547 shares of the company’s stock worth $263,000 after acquiring an additional 5,080 shares during the last quarter. Walleye Capital LLC lifted its position in Savara by 64.9% in the 4th quarter. Walleye Capital LLC now owns 150,084 shares of the company’s stock valued at $905,000 after acquiring an additional 59,063 shares in the last quarter. Affinity Asset Advisors LLC boosted its stake in Savara by 86.5% during the 4th quarter. Affinity Asset Advisors LLC now owns 2,797,153 shares of the company’s stock valued at $16,867,000 after purchasing an additional 1,297,153 shares during the last quarter. Finally, Bank of Nova Scotia acquired a new position in Savara during the 4th quarter valued at about $312,000. 87.93% of the stock is owned by institutional investors and hedge funds.

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.