Savara (NASDAQ:SVRA) Shares Gap Down on Analyst Downgrade

Savara Inc (NASDAQ:SVRA) shares gapped down prior to trading on Wednesday after HC Wainwright lowered their price target on the stock from $10.00 to $6.00. The stock had previously closed at $3.83, but opened at $3.67. HC Wainwright currently has a buy rating on the stock. Savara shares last traded at $3.61, with a volume of 493,595 shares.

SVRA has been the subject of a number of other reports. Evercore ISI reiterated an “in-line” rating and set a $5.00 price objective (down from $7.00) on shares of Savara in a research note on Wednesday. JMP Securities reaffirmed a “market outperform” rating and set a $9.00 price objective on shares of Savara in a report on Tuesday, October 1st. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $10.17.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Frazier Life Sciences Management L.P. raised its position in Savara by 103.9% in the second quarter. Frazier Life Sciences Management L.P. now owns 8,157,385 shares of the company’s stock valued at $32,874,000 after purchasing an additional 4,157,385 shares during the period. Nantahala Capital Management LLC raised its position in Savara by 198.2% in the second quarter. Nantahala Capital Management LLC now owns 5,180,951 shares of the company’s stock valued at $20,879,000 after purchasing an additional 3,443,541 shares during the period. Farallon Capital Management LLC raised its position in Savara by 90.5% in the second quarter. Farallon Capital Management LLC now owns 4,560,000 shares of the company’s stock valued at $18,377,000 after purchasing an additional 2,165,701 shares during the period. First Light Asset Management LLC purchased a new stake in Savara in the second quarter valued at $8,069,000. Finally, Jennison Associates LLC raised its position in Savara by 17.5% in the third quarter. Jennison Associates LLC now owns 6,732,776 shares of the company’s stock valued at $28,547,000 after purchasing an additional 1,001,296 shares during the period. 87.93% of the stock is currently owned by hedge funds and other institutional investors.

Savara Trading Down 15.1 %

The company has a quick ratio of 11.31, a current ratio of 11.31 and a debt-to-equity ratio of 0.26. The stock has a 50-day simple moving average of $3.96 and a 200 day simple moving average of $4.22.

Savara (NASDAQ:SVRA) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.11) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.11). On average, research analysts predict that Savara Inc will post -0.44 EPS for the current fiscal year.

About Savara

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.