Shares of Savara Inc (NASDAQ:SVRA – Get Free Report) saw unusually-high trading volume on Monday . Approximately 552,135 shares traded hands during mid-day trading, a decline of 30% from the previous session’s volume of 793,033 shares.The stock last traded at $5.07 and had previously closed at $5.07.
Analysts Set New Price Targets
SVRA has been the topic of several recent research reports. JMP Securities initiated coverage on Savara in a research note on Thursday, February 15th. They issued an “outperform” rating and a $8.00 price objective on the stock. Piper Sandler raised their price objective on Savara from $7.00 to $16.00 and gave the stock an “overweight” rating in a research note on Monday, March 4th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $8.20.
Read Our Latest Report on Savara
Savara Price Performance
Savara (NASDAQ:SVRA – Get Free Report) last issued its earnings results on Thursday, March 7th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.02. On average, equities research analysts predict that Savara Inc will post -0.38 EPS for the current year.
Institutional Trading of Savara
Several institutional investors and hedge funds have recently added to or reduced their stakes in SVRA. Royal Bank of Canada bought a new stake in Savara during the 2nd quarter valued at approximately $25,000. Jane Street Group LLC bought a new stake in Savara in the 3rd quarter worth approximately $26,000. Squarepoint Ops LLC purchased a new stake in shares of Savara during the 1st quarter worth approximately $32,000. Citigroup Inc. purchased a new stake in shares of Savara during the 4th quarter worth approximately $33,000. Finally, Alliancebernstein L.P. purchased a new stake in shares of Savara during the 2nd quarter worth approximately $38,000. Institutional investors own 87.93% of the company’s stock.
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.
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