Adage Capital Management LP has recently announced that it has increased stake in Savara Inc (NASDAQ:SVRA) by 30.90%. After grabbing 7.94 million shares, the institutional investor is now in possession of 1.87 million shares of the Healthcare Company. The new investment brought the stake of investor firm to 5.87% having worth around $29.06 million. Moreover, The Vanguard Group, Inc. increased its share by 0.77 million to have a control over 5.68 million shares. And BlackRock Fund Advisors raised its holdings to 1.02 million shares by acquiring 5.51 million shares or 4.08% of the stake.
Savara Inc (SVRA) concluded trading on 12/07/23 at a closing price of $4.02, with 2.8 million shares of worth about $11.27 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 36.27% during that period and on Thursday the price saw a gain of about 3.34%. Currently the company’s common shares owned by public are about 114.05M shares, out of which, 70.41M shares are available for trading.
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According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 27 times over the past 12 months. They bought 4,160,806 shares in 27 of the transactions. In 0 selling transactions, insiders dumped 0 shares.
Vanguard Total Stock Market ETF, AXA Framlington Biotech Fund, and PGIM Jennison Health Sciences Fun are the top 3 mutual funds which are holding stakes in Savara Inc Vanguard Total Stock Market ETF is currently holding 3.93 million shares of worth totaling $14.38 million. The company recently came buying 0.0 shares which brought its stake up to 2.91% of the company’s outstanding shares. AXA Framlington Biotech Fund bought 67612.0 shares, after which its hold over company’s outstanding shares expand to 2.42%, leaving 3.27 million shares with the mutual fund that have a worth of about $11.96 million. PGIM Jennison Health Sciences Fun, after buying 2.33 million shares, have now control over 1.73% of the stake in the company. It holds 0.65 million shares of worth $8.55 million.
Savara Inc (NASDAQ: SVRA) started trading at $3.88, below -$0.01 from concluding price of the previous day. However, the stock later moved at a day high price of 4.1100, or with a gain of 3.34%. Stock saw a price change of 4.42% in past 5 days and over the past one month there was a price change of 7.20%. Year-to-date (YTD), SVRA shares are showing a performance of 159.35% which increased to 146.63% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $1.42 but also hit the highest price of $4.21 during that period. The average intraday trading volume for Savara Inc shares is 527.95K. The stock is currently trading 8.33% above its 20-day simple moving average (SMA20), while that difference is up 11.41% for SMA50 and it goes to 33.47% higher than SMA200.
Adage Capital Management LP acquired 7.94 million shares of Savara Inc having value of about $29.06 million. Data submitted at the U.S SEC by Adage Capital Management LP revealed that the firm now holds 1.87 million shares in the company valued at close to $7533480.0, or have control over 30.90% stake in the company. Savara Inc (NASDAQ: SVRA) currently have 114.05M outstanding shares and institutions hold larger chunk of about 40.56% of that. Holding of mutual funds in the company is about 23.33% while other institutional holders and individual stake holders have control over 25.77% and 14.85% of the stake respectively.
The stock has a current market capitalization of $544.07M and its 3Y-monthly beta is at 0.70. It has posted earnings per share of -$0.31 in the same period. It has Quick Ratio of 18.98 while making debt-to-equity ratio of 0.18. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for SVRA, volatility over the week remained 4.98% while standing at 5.56% over the month.
Analysts are in expectations that Savara Inc (SVRA) stock would likely to be making an EPS of -$0.1 in the current quarter, while forecast for next quarter EPS is -$0.1 and it is -$0.36 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.11 which is -$0.09 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.07 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -38.40% while it is estimated to decrease by -3.47% in next year.
Analysts at 5 brokerage firms have issued recommendations for the Savara Inc (SVRA)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.00. Out of those 5 Wall Street analysts, 5 recommended a “Buy” rating, while 0 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Guggenheim on November 07, 2023 offering a Buy rating for the stock and assigned a target price of $7 to it.
