Savara (NASDAQ:SVRA) Stock Price Down 8.5% – Here’s What Happened

Savara Inc (NASDAQ:SVRA) fell 8.5% during mid-day trading on Friday . The company traded as low as $2.83 and last traded at $2.92. 559,788 shares were traded during mid-day trading, a decline of 54% from the average session volume of 1,209,018 shares. The stock had previously closed at $3.19.

Analyst Ratings Changes

SVRA has been the topic of a number of analyst reports. HC Wainwright lowered their target price on shares of Savara from $10.00 to $6.00 and set a “buy” rating on the stock in a research note on Wednesday. JMP Securities restated a “market outperform” rating and issued a $9.00 price objective on shares of Savara in a research report on Tuesday, October 1st. Finally, Evercore ISI reaffirmed an “in-line” rating and issued a $5.00 price objective (down previously from $7.00) on shares of Savara in a research note on Wednesday. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $10.17.

Savara Stock Performance

The firm’s 50 day simple moving average is $3.88 and its 200 day simple moving average is $4.19. The firm has a market cap of $511.43 million, a PE ratio of -6.93 and a beta of 1.02. The company has a current ratio of 17.70, a quick ratio of 11.31 and a debt-to-equity ratio of 0.13.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Bain Capital Life Sciences Investors LLC raised its stake in Savara by 2.3% during the first quarter. Bain Capital Life Sciences Investors LLC now owns 14,565,457 shares of the company’s stock valued at $72,536,000 after purchasing an additional 332,706 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Savara by 22.9% in the 3rd quarter. Wellington Management Group LLP now owns 8,624,012 shares of the company’s stock worth $36,566,000 after buying an additional 1,608,522 shares during the last quarter. Frazier Life Sciences Management L.P. raised its position in shares of Savara by 103.9% during the 2nd quarter. Frazier Life Sciences Management L.P. now owns 8,157,385 shares of the company’s stock valued at $32,874,000 after buying an additional 4,157,385 shares in the last quarter. Vestal Point Capital LP lifted its holdings in shares of Savara by 24.7% in the 3rd quarter. Vestal Point Capital LP now owns 8,090,000 shares of the company’s stock valued at $34,302,000 after acquiring an additional 1,600,000 shares during the last quarter. Finally, Jennison Associates LLC grew 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 worth $28,547,000 after acquiring an additional 1,001,296 shares in the last quarter. 87.93% of the stock is currently owned by institutional investors.

Savara Company Profile

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.