Principal Financial Group Inc. Sells 7,607 Shares of Savara Inc (NASDAQ:SVRA)

Principal Financial Group Inc. lowered its holdings in shares of Savara Inc (NASDAQ:SVRA) by 42.7% in the third quarter, Holdings Channel.com reports. The institutional investor owned 10,188 shares of the company’s stock after selling 7,607 shares during the period. Principal Financial Group Inc.’s holdings in Savara were worth $43,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of SVRA. Frazier Life Sciences Management L.P. grew its position in Savara by 103.9% in the second quarter. Frazier Life Sciences Management L.P. now owns 8,157,385 shares of the company’s stock valued at $32,874,000 after acquiring an additional 4,157,385 shares during the last quarter. Nantahala Capital Management LLC boosted its stake in shares of Savara by 198.2% in the 2nd quarter. Nantahala Capital Management LLC now owns 5,180,951 shares of the company’s stock valued at $20,879,000 after purchasing an additional 3,443,541 shares in the last quarter. Farallon Capital Management LLC grew its holdings in shares of Savara by 90.5% during the 2nd quarter. Farallon Capital Management LLC now owns 4,560,000 shares of the company’s stock valued at $18,377,000 after purchasing an additional 2,165,701 shares during the last quarter. First Light Asset Management LLC acquired a new position in Savara during the 2nd quarter worth approximately $8,069,000. Finally, Wellington Management Group LLP increased its position in Savara by 22.9% during the 3rd quarter. Wellington Management Group LLP now owns 8,624,012 shares of the company’s stock worth $36,566,000 after purchasing an additional 1,608,522 shares in the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

Savara Stock Performance

Shares of SVRA stock opened at $3.05 on Wednesday. Savara Inc has a 1-year low of $2.82 and a 1-year high of $5.70. The company has a current ratio of 17.70, a quick ratio of 17.70 and a debt-to-equity ratio of 0.13. The stock has a market cap of $523.44 million, a price-to-earnings ratio of -7.09 and a beta of 0.68. The stock has a 50-day moving average of $3.36 and a 200-day moving average of $3.91.

Savara (NASDAQ:SVRA) last released its earnings results on Tuesday, November 12th. The company reported ($0.11) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.11). On average, equities research analysts forecast that Savara Inc will post -0.45 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have weighed in on SVRA shares. Wells Fargo & Company started coverage on shares of Savara in a research note on Friday, December 20th. They set an “overweight” rating and a $8.00 target price on the stock. Evercore ISI reissued an “in-line” rating and set a $5.00 price target (down from $7.00) on shares of Savara in a research note on Wednesday, November 13th. HC Wainwright lowered their price objective on Savara from $10.00 to $6.00 and set a “buy” rating for the company in a research note on Wednesday, November 13th. Finally, JMP Securities reiterated a “market outperform” rating and set a $9.00 target price on shares of Savara in a research report on Thursday, December 19th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $9.86.

Insider Transactions at Savara

In related news, CEO Matthew Pauls sold 54,702 shares of the company’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $3.31, for a total transaction of $181,063.62. Following the sale, the chief executive officer now owns 1,536,379 shares in the company, valued at $5,085,414.49. This represents a 3.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Joseph S. Mccracken bought 20,000 shares of the stock in a transaction on Tuesday, November 19th. The stock was acquired at an average price of $2.95 per share, with a total value of $59,000.00. Following the completion of the acquisition, the director now owns 210,837 shares of the company’s stock, valued at $621,969.15. This represents a 10.48 % increase in their position. The disclosure for this purchase can be found here. 5.13% of the stock is currently owned by corporate insiders.

About Savara

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.