Savara (NASDAQ:SVRA) Trading Down 3.2% – Here’s What Happened

Savara Inc (NASDAQ:SVRA) dropped 3.2% during mid-day trading on Friday . The company traded as low as $3.34 and last traded at $3.36. Approximately 61,820 shares traded hands during trading, a decline of 95% from the average daily volume of 1,250,333 shares. The stock had previously closed at $3.47.

Analyst Ratings Changes

A number of brokerages recently commented on SVRA. HC Wainwright reduced their price objective on shares of Savara from $10.00 to $6.00 and set a “buy” rating for the company in a research report on Wednesday, November 13th. Evercore ISI restated an “in-line” rating and issued a $5.00 price objective (down previously from $7.00) on shares of Savara in a research report on Wednesday, November 13th. Finally, 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. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Savara presently has an average rating of “Moderate Buy” and a consensus target price of $10.17.

Savara Price Performance

The company has a debt-to-equity ratio of 0.13, a quick ratio of 17.70 and a current ratio of 17.70. The company has a 50-day moving average of $3.68 and a 200-day moving average of $4.09.

Savara (NASDAQ:SVRA) last issued its quarterly earnings data 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, analysts forecast that Savara Inc will post -0.45 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Joseph S. Mccracken bought 20,000 shares of the stock in a transaction on Tuesday, November 19th. The stock was purchased at an average cost of $2.95 per share, with a total value of $59,000.00. Following the purchase, the director now owns 210,837 shares of the company’s stock, valued at approximately $621,969.15. The trade was a 10.48 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Insiders own 5.13% of the company’s stock.

Institutional Trading of Savara

Hedge funds and other institutional investors have recently bought and sold shares of the company. CANADA LIFE ASSURANCE Co purchased a new stake in shares of Savara during the 1st quarter valued at $35,000. Choreo LLC purchased a new stake in shares of Savara during the 2nd quarter valued at $59,000. DRW Securities LLC purchased a new stake in shares of Savara during the 2nd quarter valued at $62,000. Virtu Financial LLC purchased a new stake in shares of Savara during the 3rd quarter valued at $67,000. Finally, Principal Financial Group Inc. grew its stake in shares of Savara by 64.4% during the 2nd quarter. Principal Financial Group Inc. now owns 17,795 shares of the company’s stock valued at $72,000 after buying an additional 6,973 shares during the period. 87.93% of the stock is owned by hedge funds and other institutional investors.

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.