Sinovac Biotech, Ltd. (SVA) Downgraded to “Hold” at BidaskClub
BidaskClub lowered shares of Sinovac Biotech, Ltd. (NASDAQ:SVA) from a buy rating to a hold rating in a research report released on Wednesday morning.
Separately, ValuEngine raised Sinovac Biotech from a sell rating to a hold rating in a report on Friday, June 30th.
Sinovac Biotech (NASDAQ:SVA) traded down 0.42% during mid-day trading on Wednesday, hitting $7.04. 69,144 shares of the company were exchanged. The stock’s 50 day moving average is $6.94 and its 200-day moving average is $6.24. Sinovac Biotech has a 12-month low of $4.60 and a 12-month high of $7.16. The company’s market cap is $401.05 million.
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Several hedge funds and other institutional investors have recently modified their holdings of the business. Eqis Capital Management Inc. lifted its holdings in shares of Sinovac Biotech by 0.6% during the second quarter. Eqis Capital Management Inc. now owns 156,779 shares of the biopharmaceutical company’s stock valued at $1,058,000 after acquiring an additional 983 shares during the period. State Street Corp lifted its holdings in shares of Sinovac Biotech by 18.5% during the second quarter. State Street Corp now owns 49,281 shares of the biopharmaceutical company’s stock valued at $333,000 after acquiring an additional 7,711 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of Sinovac Biotech by 8.0% during the second quarter. Renaissance Technologies LLC now owns 1,814,300 shares of the biopharmaceutical company’s stock valued at $12,247,000 after acquiring an additional 134,810 shares during the period. GLG Partners LP raised its holdings in shares of Sinovac Biotech by 144.8% in the second quarter. GLG Partners LP now owns 282,611 shares of the biopharmaceutical company’s stock valued at $1,908,000 after buying an additional 167,165 shares during the last quarter. Finally, Morgan Stanley raised its holdings in shares of Sinovac Biotech by 86,309.9% in the first quarter. Morgan Stanley now owns 2,721,912 shares of the biopharmaceutical company’s stock valued at $15,597,000 after buying an additional 2,718,762 shares during the last quarter. 30.68% of the stock is owned by institutional investors.
About Sinovac Biotech
Sinovac Biotech Ltd. (Sinovac) is a holding company. The Company is a biopharmaceutical company that focuses on the research, development, manufacturing and commercialization of vaccines that protect against human infectious diseases, including hepatitis A, hepatitis B, seasonal influenza, Haemagglutinase5 Neuraminidase1 (H5N1) and Influenza A (H1N1) pandemic influenza and mumps.
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