Savara director Joseph McCracken buys $20,825 in stock

LANGHORNE, PA—Joseph S. McCracken, a director at Savara Inc. (NASDAQ:SVRA), recently purchased a significant amount of the company’s common stock, according to a recent SEC filing. The purchase comes as the stock has declined nearly 20% in the past week, with the company currently valued at $480 million. According to InvestingPro data, analyst targets for the stock range from $2 to $16, suggesting significant potential upside. On May 29, McCracken acquired 10,000 shares at a weighted average price of $2.0825 per share, totaling approximately $20,825. This transaction brings McCracken’s total holdings to 260,837 shares.

The filing notes that the purchase prices ranged from $2.08 to $2.085. McCracken has committed to providing full details of the exact number of shares purchased at each price upon request. This move reflects McCracken’s continued investment in Savara Inc., a company known for its focus on developing therapies for rare respiratory diseases.

In other recent news, Savara Inc. has encountered significant developments concerning its drug Molbreevi, intended for treating autoimmune pulmonary alveolar proteinosis. The U.S. Food and Drug Administration (FDA) issued a Refuse to File (RTF) letter for the Biologics License Application (BLA) due to missing Chemistry, Manufacturing, and Controls (CMC) data, although no additional safety or efficacy data was requested. Savara plans to address these issues and aims to resubmit the BLA in late 2025. Despite this setback, JMP Securities maintains a Market Outperform rating with a $10 price target, expressing confidence in Molbreevi’s approval, citing a 90% probability of success. Guggenheim also retains a Buy rating, though it has adjusted its price target to $8, reflecting the regulatory challenges and a revised market launch timeline to early 2027. Evercore ISI, maintaining an In Line rating, has reduced its price target to $2, considering the anticipated delays and the need for additional data. Meanwhile, H.C. Wainwright has downgraded Savara’s stock to Neutral, setting a price target of $2, due to uncertainties surrounding the regulatory path and market opportunities for Molbreevi. These developments highlight the ongoing challenges and potential for Savara as it navigates the regulatory landscape.

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