State Street Corp Purchases 560,242 Shares of Savara Inc (NASDAQ:SVRA)

State Street Corp boosted its position in Savara Inc (NASDAQ:SVRA) by 15.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,138,276 shares of the company’s stock after acquiring an additional 560,242 shares during the quarter. State Street Corp owned 2.41% of Savara worth $17,546,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Choreo LLC acquired a new stake in shares of Savara in the 2nd quarter valued at approximately $59,000. DRW Securities LLC acquired a new stake in Savara in the second quarter valued at approximately $62,000. Principal Financial Group Inc. grew its stake in shares of Savara by 64.4% during the second quarter. Principal Financial Group Inc. now owns 17,795 shares of the company’s stock worth $72,000 after buying an additional 6,973 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in shares of Savara by 258.9% during the third quarter. BNP Paribas Financial Markets now owns 25,693 shares of the company’s stock worth $109,000 after buying an additional 18,534 shares in the last quarter. Finally, Profund Advisors LLC acquired a new position in shares of Savara during the second quarter worth $105,000. 87.93% of the stock is owned by institutional investors.

Savara Stock Performance

SVRA stock opened at $3.20 on Wednesday. The firm has a market cap of $549.18 million, a PE ratio of -7.44 and a beta of 0.92. The company has a current ratio of 17.70, a quick ratio of 17.70 and a debt-to-equity ratio of 0.13. The stock has a 50-day moving average price of $3.46 and a 200-day moving average price of $3.98. Savara Inc has a 1-year low of $2.82 and a 1-year high of $5.70.

Savara (NASDAQ:SVRA) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.11) earnings per share for the quarter, meeting the consensus estimate of ($0.11). As a group, equities research analysts expect that Savara Inc will post -0.45 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Matthew Pauls sold 54,702 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $3.31, for a total value of $181,063.62. Following the completion of the transaction, the chief executive officer now directly owns 1,536,379 shares of the company’s stock, valued at $5,085,414.49. This represents a 3.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Joseph S. Mccracken bought 20,000 shares of the stock in a transaction dated Tuesday, November 19th. The shares were acquired at an average price of $2.95 per share, for a total transaction of $59,000.00. Following the completion of the purchase, the director now directly owns 210,837 shares in the company, valued at approximately $621,969.15. This trade represents a 10.48 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 5.13% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Evercore ISI reiterated an “in-line” rating and issued a $5.00 price objective (down previously from $7.00) on shares of Savara in a report on Wednesday, November 13th. JMP Securities reaffirmed a “market outperform” rating and set a $9.00 price target on shares of Savara in a research note on Thursday, December 19th. Wells Fargo & Company initiated coverage on shares of Savara in a research note on Friday, December 20th. They issued an “overweight” rating and a $8.00 price objective on the stock. Finally, HC Wainwright decreased their price objective on Savara from $10.00 to $6.00 and set a “buy” rating for the company in a report on Wednesday, November 13th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Savara presently has a consensus rating of “Moderate Buy” and a consensus target price of $9.86.

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.