Savara (NASDAQ:SVRA) Shares Gap Down After Earnings Miss

Savara Inc. (NASDAQ:SVRA) shares gapped down prior to trading on Wednesday following a weaker than expected earnings announcement. The stock had previously closed at $5.08, but opened at $4.82. Savara shares last traded at $5.06, with a volume of 89,638 shares.

The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.01).

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Savara in a report on Tuesday, April 21st. William Blair set a $10.00 price objective on shares of Savara in a report on Monday, March 16th. Oppenheimer assumed coverage on shares of Savara in a research report on Friday, April 24th. They set an “outperform” rating and a $11.00 price objective for the company. HC Wainwright reiterated a “buy” rating on shares of Savara in a research note on Monday, March 16th. Finally, Wall Street Zen lowered Savara from a “hold” rating to a “sell” rating in a report on Saturday, March 14th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $9.13.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Prudential Financial Inc. purchased a new stake in Savara in the second quarter valued at $30,000. BNP Paribas Financial Markets grew its holdings in shares of Savara by 52.3% during the second quarter. BNP Paribas Financial Markets now owns 13,473 shares of the company’s stock worth $31,000 after purchasing an additional 4,626 shares during the last quarter. Brevan Howard Capital Management LP acquired a new stake in shares of Savara during the second quarter worth about $33,000. Russell Investments Group Ltd. increased its position in shares of Savara by 930.5% during the third quarter. Russell Investments Group Ltd. now owns 10,480 shares of the company’s stock worth $37,000 after purchasing an additional 9,463 shares in the last quarter. Finally, CIBC Bancorp USA Inc. purchased a new stake in shares of Savara in the 3rd quarter valued at about $44,000. 87.93% of the stock is owned by hedge funds and other institutional investors.

Savara Price Performance

The firm has a market capitalization of $1.04 billion, a PE ratio of -9.58 and a beta of 0.28. The company has a current ratio of 11.85, a quick ratio of 11.85 and a debt-to-equity ratio of 0.15. The company has a fifty day moving average price of $5.38 and a two-hundred day moving average price of $5.47.

Savara Company Profile

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.