Short Interest in Savara Inc (NASDAQ:SVRA) Increases By 25.3%

Savara Inc (NASDAQ:SVRAGet Free Report) saw a significant increase in short interest in May. As of May 31st, there was short interest totalling 5,640,000 shares, an increase of 25.3% from the May 15th total of 4,500,000 shares. Approximately 7.8% of the shares of the company are short sold. Based on an average trading volume of 877,400 shares, the days-to-cover ratio is currently 6.4 days.

Savara Stock Performance

Shares of Savara stock traded down $0.08 on Friday, reaching $3.98. The company’s stock had a trading volume of 340,679 shares, compared to its average volume of 875,471. Savara has a 52-week low of $2.60 and a 52-week high of $5.70. The stock has a 50-day moving average price of $4.54 and a 200-day moving average price of $4.63. The company has a quick ratio of 14.90, a current ratio of 14.90 and a debt-to-equity ratio of 0.22.

Savara (NASDAQ:SVRAGet Free Report) last issued its quarterly earnings results on Thursday, May 9th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.01). As a group, sell-side analysts predict that Savara will post -0.41 EPS for the current year.

Institutional Trading of Savara

Institutional investors have recently made changes to their positions in the company. Adage Capital Partners GP L.L.C. boosted its stake in shares of Savara by 30.9% in the third quarter. Adage Capital Partners GP L.L.C. now owns 7,938,551 shares of the company’s stock worth $30,008,000 after acquiring an additional 1,874,000 shares during the last quarter. Superstring Capital Management LP acquired a new stake in shares of Savara in the fourth quarter worth approximately $3,827,000. Polar Capital Holdings Plc acquired a new stake in shares of Savara in the third quarter worth approximately $3,780,000. Jennison Associates LLC boosted its stake in shares of Savara by 128.0% in the fourth quarter. Jennison Associates LLC now owns 8,815,358 shares of the company’s stock worth $41,432,000 after acquiring an additional 4,948,596 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. acquired a new stake in shares of Savara in the fourth quarter worth approximately $74,000. 87.93% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SVRA has been the subject of several recent research reports. JMP Securities reiterated a “market outperform” rating and set a $8.00 price target on shares of Savara in a research report on Monday, May 6th. Piper Sandler lifted their price target on Savara from $7.00 to $16.00 and gave the company an “overweight” rating in a research report on Monday, March 4th. Oppenheimer lifted their price target on Savara from $9.50 to $11.00 and gave the company an “outperform” rating in a research report on Tuesday, May 21st. Evercore ISI reduced their price target on Savara from $10.00 to $7.00 and set an “outperform” rating for the company in a research report on Thursday, May 16th. Finally, HC Wainwright reiterated a “buy” rating and set a $6.00 price target on shares of Savara in a research report on Monday, May 13th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $9.17.

Read Our Latest Report on SVRA

Savara Company Profile

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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.

Further Reading

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