Adage Capital Partners GP L.L.C. Sells 4,637,930 Shares of Savara Inc (NASDAQ:SVRA)

Adage Capital Partners GP L.L.C. lowered its stake in shares of Savara Inc (NASDAQ:SVRA - Free Report) by 68.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,115,771 shares of the company's stock after selling 4,637,930 shares during the quarter. Adage Capital Partners GP L.L.C. owned approximately 1.23% of Savara worth $6,495,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Rosalind Advisors Inc. bought a new position in Savara in the fourth quarter valued at $8,151,000. Emerald Advisers LLC bought a new stake in Savara during the 4th quarter worth about $7,161,000. JPMorgan Chase & Co. boosted its stake in shares of Savara by 1,948.0% during the 4th quarter. JPMorgan Chase & Co. now owns 1,423,139 shares of the company's stock worth $4,369,000 after buying an additional 1,353,649 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Savara by 4.6% in the 4th quarter. Vanguard Group Inc. now owns 8,309,970 shares of the company's stock valued at $25,512,000 after acquiring an additional 365,959 shares in the last quarter. Finally, Marshall Wace LLP acquired a new stake in shares of Savara in the fourth quarter valued at about $1,109,000. Institutional investors and hedge funds own 87.93% of the company's stock.

Savara Stock Performance

NASDAQ SVRA traded up $0.14 during trading on Friday, reaching $3.40. 706,717 shares of the company's stock were exchanged, compared to its average volume of 1,299,663. The company has a debt-to-equity ratio of 0.13, a current ratio of 17.70 and a quick ratio of 17.70. The business has a 50 day moving average price of $2.83 and a 200-day moving average price of $3.05. The stock has a market capitalization of $587.34 million, a P/E ratio of -7.91 and a beta of 0.44. Savara Inc has a fifty-two week low of $2.26 and a fifty-two week high of $5.31.

Savara (NASDAQ:SVRA - Get Free Report) last posted its earnings results on Thursday, March 27th. The company reported ($0.13) earnings per share for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.02). The company had revenue of $0.27 million during the quarter. Sell-side analysts forecast that Savara Inc will post -0.45 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright restated a "buy" rating and issued a $6.00 price target on shares of Savara in a research note on Friday, March 28th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $8.83.

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.