David Ramsay, a director at Savara Inc. (NASDAQ:SVRA), has acquired 100,000 shares of the company's common stock, according to a recent SEC filing. The purchase, which took place on November 18, 2024, was executed at a weighted average price of $2.876 per share, with transaction prices ranging from $2.85 to $2.91. Following this acquisition, Ramsay holds a total of 2,323,642 shares in the company.
In other recent news, Savara Inc. has seen a flurry of analyst activity. H.C. Wainwright lowered their price target from $10 to $6, maintaining a Buy rating, citing concerns over Savara's ability to meet patient identification goals for Molbreevi. In contrast, Piper Sandler reiterated an Overweight rating and a $16 price target, emphasizing the potential of Savara's aPAP treatment, MOLBREEVI. Evercore ISI downgraded the stock to In Line from Outperform and reduced the price target to $5, identifying manufacturing as a primary risk to approval.
Savara reported earnings per share at ($0.12), slightly below the ($0.10) forecasted by Oppenheimer and consensus estimates. The company also announced a $100 million stock offering of 26,246,720 shares managed by firms such as Jefferies, Piper Sandler, and Guggenheim Securities.
Recent developments include the launch of an Expanded Access Program for molgramostim, a potential treatment for aPAP. Savara also appointed Braden Parker as the new Chief Commercial Officer, bringing over 25 years of experience in the healthcare and biotech industry. Furthermore, Savara is on track for potential approval by the end of 2025 for MOLBREEVI in autoimmune pulmonary alveolar proteinosis (aPAP), assuming the treatment receives priority review.
InvestingPro Insights
David Ramsay's recent acquisition of 100,000 Savara Inc. (NASDAQ:SVRA) shares aligns with several key financial indicators and trends highlighted by InvestingPro. The director's purchase comes at a time when the stock is trading near its 52-week low and has experienced a significant decline, with a 26.78% drop in the past week alone. This insider buying activity could be seen as a vote of confidence in the company's future prospects, despite recent market challenges.
InvestingPro data reveals that Savara's market capitalization stands at $484.82 million, with the stock price at $2.98 as of the previous close. This valuation is particularly interesting when considering that InvestingPro Tips indicate the company holds more cash than debt on its balance sheet, potentially providing financial flexibility in a challenging market environment.
However, investors should note that Savara is currently unprofitable, with a negative gross profit of $67.48 million over the last twelve months. An InvestingPro Tip also points out that the company is quickly burning through cash, which may explain the recent stock price weakness. Despite these challenges, analysts have set a fair value target of $9 per share, suggesting potential upside if the company can overcome its current hurdles.
For readers seeking a more comprehensive analysis, InvestingPro offers 12 additional tips for Savara Inc., providing a deeper understanding of the company's financial health and market position.
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