Essex Investment Management Co. LLC cut its holdings in shares of Savara Inc (NASDAQ:SVRA) by 39.7% in the third quarter, HoldingsChannel.com reports. The fund owned 16,133 shares of the company’s stock after selling 10,606 shares during the quarter. Essex Investment Management Co. LLC’s holdings in Savara were worth $180,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in SVRA. BlackRock Inc. boosted its position in Savara by 188.6% during the 2nd quarter. BlackRock Inc. now owns 2,006,238 shares of the company’s stock worth $22,711,000 after acquiring an additional 1,310,969 shares during the period. Millennium Management LLC boosted its position in Savara by 1,161.8% during the 1st quarter. Millennium Management LLC now owns 522,897 shares of the company’s stock worth $4,811,000 after acquiring an additional 481,456 shares during the period. Brown Advisory Inc. lifted its holdings in shares of Savara by 187.8% during the 1st quarter. Brown Advisory Inc. now owns 406,751 shares of the company’s stock valued at $3,742,000 after buying an additional 265,402 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Savara by 385.4% during the 2nd quarter. Northern Trust Corp now owns 284,112 shares of the company’s stock valued at $3,216,000 after buying an additional 225,582 shares during the last quarter. Finally, SCP Investment LP acquired a new stake in shares of Savara during the 2nd quarter valued at about $679,000. Hedge funds and other institutional investors own 41.84% of the company’s stock.
Shares of Savara stock opened at $9.49 on Friday. The stock has a market cap of $351.29 million, a PE ratio of -5.39 and a beta of -0.33. The company has a debt-to-equity ratio of 0.16, a current ratio of 10.30 and a quick ratio of 10.30. Savara Inc has a 52-week low of $7.85 and a 52-week high of $17.19.
Savara (NASDAQ:SVRA) last announced its quarterly earnings results on Thursday, August 9th. The company reported ($0.38) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.36) by ($0.02). Equities analysts expect that Savara Inc will post -1.41 earnings per share for the current fiscal year.
Several equities research analysts have recently issued reports on SVRA shares. Zacks Investment Research upgraded Savara from a “sell” rating to a “hold” rating in a report on Saturday, June 23rd. BidaskClub lowered Savara from a “buy” rating to a “hold” rating in a report on Thursday, June 28th. Canaccord Genuity set a $25.00 price target on Savara and gave the company a “buy” rating in a report on Thursday, August 2nd. HC Wainwright reiterated a “buy” rating and set a $22.00 price target on shares of Savara in a report on Friday, August 3rd. Finally, Roth Capital started coverage on Savara in a report on Monday, August 13th. They set a “neutral” rating and a $12.00 price target for the company. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $26.80.
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.
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