Savara Inc. (NASDAQ:SVRA) Shares Shorted: Short Interest Down 34.0% in October

Savara Inc. (NASDAQ:SVRA) was the recipient of a large decrease in short interest in the month of October. As of October 15th, there was short interest totaling 28,737,897 shares, a decrease of 34.0% from the September 30th total of 43,563,969 shares. Approximately 14.8% of the company’s stock are sold short. Based on an average daily trading volume, of 2,349,629 shares, the days-to-cover ratio is presently 12.2 days.

Analyst Ratings Changes

SVRA has been the subject of several recent research reports. Citigroup reissued a “market outperform” rating on shares of Savara in a research note on Wednesday, October 7th. JPMorgan Chase & Co. began coverage on Savara in a research note on Wednesday, October 7th. They set an “overweight” rating and a $12.00 target price for the company. Royal Bank Of Canada set a $10.00 price target on shares of Savara in a report on Wednesday, October 7th. Wall Street Zen downgraded shares of Savara from a “hold” rating to a “sell” rating in a research note on Sunday, October 4th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Savara in a report on Thursday, October 15th. Seven research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $10.25.

Hedge Funds Weigh In On Savara

Institutional investors and hedge funds have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. bought a new position in Savara during the 3rd quarter worth $54,000. Profund Advisors LLC boosted its holdings in Savara by 7.3% in the third quarter. Profund Advisors LLC now owns 49,741 shares of the company’s stock valued at $257,000 after acquiring an additional 3,370 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its holdings in Savara by 14.9% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 37,488 shares of the company’s stock worth $190,000 after acquiring an additional 4,874 shares during the period. Moody Aldrich Partners LLC increased its stake in shares of Savara by 4.2% in the 3rd quarter. Moody Aldrich Partners LLC now owns 502,932 shares of the company’s stock valued at $2,595,000 after acquiring an additional 20,139 shares in the last quarter. Finally, Sterling Capital Management LLC boosted its holdings in Savara by 842.8% in the third quarter. Sterling Capital Management LLC now owns 5,063 shares of the company’s stock worth $26,000 after acquiring an additional 4,526 shares in the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

Savara Stock Performance

Shares of Savara stock opened at $4.75 on Wednesday. Savara has a 52 week low of $3.86 and a 52 week high of $7.01. The firm has a fifty day moving average of $5.04 and a two-hundred day moving average of $5.39. The company has a current ratio of 10.13, a quick ratio of 10.13 and a debt-to-equity ratio of 0.21.

Savara (NASDAQ:SVRA) last announced its quarterly earnings results on Tuesday, August 11th. The company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.02). As a group, equities research analysts forecast that Savara will post -0.66 earnings per share for the current year.

About Savara

Savara Inc is a clinical-stage biopharmaceutical company focused on developing therapies for rare respiratory diseases. The company’s work is centered on conditions with significant unmet medical needs, particularly diseases involving impaired lung function and abnormal accumulation of material in the lungs.

Savara’s lead product candidate is molgramostim, an inhaled formulation of recombinant human granulocyte-macrophage colony-stimulating factor (GM-CSF). The therapy is being developed for autoimmune pulmonary alveolar proteinosis, a rare lung disorder in which surfactant accumulates in the airspaces and interferes with breathing.