Bank of America Corp DE Buys 520,356 Shares of Savara Inc. $SVRA

Key Points

• Bank of America purchased 520,356 Savara shares valued at approximately $3.2 million, giving it a 0.25% stake. Institutional investors collectively own 87.93% of the company, with several major funds recently establishing new positions.
• Analyst sentiment is broadly positive, with Savara holding a consensus “Moderate Buy” rating and a $10.00 target price, despite one sell rating and a recent upgrade from sell to hold.
• SVRA opened at $5.08, while Savara’s latest quarterly loss of $0.16 per share missed estimates by $0.02. The clinical-stage biotechnology company is developing inhaled molgramostim to treat autoimmune pulmonary alveolar proteinosis.

Bank of America Corp DE purchased a new position in Savara Inc. (NASDAQ:SVRA - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 520,356 shares of the company's stock, valued at approximately $3,205,000. Bank of America Corp DE owned 0.25% of Savara at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in Savara during the 2nd quarter worth about $76,966,000. Polar Capital Holdings Plc bought a new stake in shares of Savara during the fourth quarter valued at about $50,086,000. Spruce Street Capital LP bought a new stake in shares of Savara during the second quarter valued at about $21,267,868. Pictet Asset Management Holding SA purchased a new stake in shares of Savara in the first quarter worth about $12,424,000. Finally, ADAR1 Capital Management LLC purchased a new stake in shares of Savara in the second quarter worth about $8,645,000. 87.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on SVRA shares. Wall Street Zen raised shares of Savara from a "sell" rating to a "hold" rating in a research note on Saturday. Weiss Ratings reiterated a "sell (d-)" rating on shares of Savara in a research note on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Savara has an average rating of "Moderate Buy" and a consensus target price of $10.00.

Savara Stock Up 0.2%

Shares of SVRA opened at $5.08 on Wednesday. Savara Inc. has a 1 year low of $3.34 and a 1 year high of $7.01. The company has a debt-to-equity ratio of 0.21, a current ratio of 10.13 and a quick ratio of 10.13. The stock has a 50 day simple moving average of $5.42 and a two-hundred day simple moving average of $5.43. The firm has a market cap of $1.04 billion, a P/E ratio of -8.76 and a beta of 0.25.

Savara (NASDAQ:SVRA - Get Free Report) last announced its quarterly earnings data on Tuesday, August 11th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.14) by ($0.02). On average, analysts forecast that Savara Inc. will post -0.61 earnings per share for the current fiscal year.

About Savara

Savara Inc is a clinical-stage biopharmaceutical company focused on developing therapies for rare respiratory diseases. The company's primary focus is autoimmune pulmonary alveolar proteinosis (aPAP), a rare disorder in which abnormal accumulation of surfactant in the lungs can impair breathing and oxygen exchange.

Savara's lead product candidate is molgramostim, an inhaled recombinant granulocyte-macrophage colony-stimulating factor (GM-CSF). The therapy is designed to help restore the function of pulmonary alveolar macrophages, the immune cells responsible for clearing excess surfactant from the lungs.

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