Savara Inc (NASDAQ:SVRA) closed higher on Friday. Can it keep going?
Market Action
On Friday, SVRA closed up by 3.31% at $1.56. More than 1.17 million shares exchanged hands for the day. The stock opened at $1.5769 and moved within a range of $1.50-$1.5769. The stock has gained about 35.50% so far this year.
Savara Announces News
Friday morning, Savara announced New Employment Inducement Grant Under NASDAQ Listing Rule. Here were the key details:
- On May 11, 2021, the Compensation Committee of the Company’s Board of Directors granted a newly hired employee the option to purchase 175,000 shares of the Company’s common stock and restricted stock units (RSUs) covering 100,000 shares of the Company’s common stock.
- These equity awards were granted pursuant to Rule 5635(c)(4) of the NASDAQ Listing Rules as an inducement material to the employee’s acceptance of employment with the Company.
- The options have an exercise price of $1.62 per share, the closing trading price of the Company’s common stock on the NASDAQ Global Market on the grant date.
Trader Notes
SVRA is trading 9% below its 20 day moving average and 15% below its 50 day moving average. SVRA is slightly above its 200 MA. Pivot points to watch are 1.57, 1.96 and 1.73 above and 1.47, 1.43 and 1.33 below.
SVRA has been trading lower for the last few weeks. The stock has rallied from this area 6 times this year, so a bounce may be on the way.
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