Savara director Joseph McCracken earns $59,071 in the same stock Via Investing.com
Joseph S. McCracken, director at Savara Inc. (NASDAQ: ), increased his stake in the company through recent purchases of common stock. According to the latest SEC filing, McCracken acquired 20,000 shares on November 19, 2024, at a weighted average price of $2.9536 per share, resulting in a total transaction value of $59,071. Following this acquisition, McCracken now directly owns 210,837 shares. Purchase prices varied slightly, from $2.9481 to $2.9678.
In other recent news, Savara Inc. reported earnings per share of ($0.12), slightly below the ($0.10) forecast by Oppenheimer and consensus estimates. Despite this, analyst firms Piper Sandler, HC Wainwright, and Oppenheimer maintained their positive ratings on Savara. Additionally, Savara announced a $100 million stock offering of 26,246,720 shares held by firms such as Jefferies, Piper Sandler, and Guggenheim Securities.
Evercore ISI recently downgraded Savara from Outperform to In Line and lowered its price target to $5.00, while HC Wainwright lowered its price target from $10.00 to $6.00 but maintained a buy rating. The adjustment comes amid concerns about Savara’s ability to meet Molbreevi’s patient identification targets ahead of its Biologics License Application (BLA) submission and potential market launch.
Savara is on track for approval by the end of 2025 for MOLBREEVI™s in autoimmune pulmonary alveolar proteinosis (aPAP), assuming the treatment receives a critical review. The company also launched the Extended Access Program for molgramostim, a potential treatment for aPAP, and appointed Braden Parker as Chief Commercial Officer, bringing more than 25 years of experience in the healthcare and biotech industries.
The company’s current partner, GEMA, based in Buenos Aires, has never had an FDA-approved product before. Savara plans to file with GEMA as a primary drug manufacturer and intends to submit a Post-Authorization Addendum that includes Fujifilm-Diosynth as a secondary manufacturer. These are some of the latest developments in the company.
InvestingPro Insights
Joseph S. McCracken’s recent purchase of shares of Savara Inc. (NASDAQ:SVRA) comes at a time when the company’s stock is trading near its 52-week high, according to InvestingPro data. This insider buying activity can be seen as a vote of confidence in the company’s future prospects, despite recent market challenges.
InvestingPro Tips points out that Savara carries more cash than debt on its balance sheet, which could provide some financial flexibility as the company looks at its current situation. However, it is important to note that the company is quick to burn through cash, something investors should keep an eye on.
The stock’s recent performance has been challenging, as InvestingPro data shows a 21.81% decline over the past month and a 34.67% decline over the past three months. This context makes McCracken’s purchase particularly interesting, as it occurred during a sharp decline in the share price.
Although Savara is currently unprofitable, with a negative P/E ratio of -6.08 for the last twelve months from Q3 2024, the price-to-book ratio stands at 2.53, suggesting that the market still offers some premium to the company. inheritances.
For investors looking for a comprehensive analysis, InvestingPro offers 12 additional tips on Savara Inc., which provide a deeper understanding of the company’s financial health and market conditions.
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