BidaskClub downgraded shares of Sinovac Biotech, Ltd. (NASDAQ:SVA) from a buy rating to a hold rating in a report published on Thursday morning.
Separately, ValuEngine upgraded Sinovac Biotech from a sell rating to a hold rating in a research report on Friday, June 30th.
Shares of Sinovac Biotech (SVA) opened at 6.66 on Thursday. The stock has a 50 day moving average price of $6.46 and a 200-day moving average price of $5.79. The stock’s market capitalization is $379.41 million. Sinovac Biotech has a 52-week low of $4.60 and a 52-week high of $6.94.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Spark Investment Management LLC increased its position in shares of Sinovac Biotech by 62.5% in the first quarter. Spark Investment Management LLC now owns 54,600 shares of the biopharmaceutical company’s stock valued at $312,000 after buying an additional 21,000 shares in the last quarter. Verity Asset Management Inc. bought a new position in shares of Sinovac Biotech during the first quarter valued at about $158,000. Morgan Stanley increased its position 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 in the last quarter. Renaissance Technologies LLC increased its position in shares of Sinovac Biotech by 10.1% in the first quarter. Renaissance Technologies LLC now owns 1,679,490 shares of the biopharmaceutical company’s stock valued at $9,623,000 after buying an additional 154,690 shares in the last quarter. Finally, Eqis Capital Management Inc. increased its position in shares of Sinovac Biotech by 0.6% in the second quarter. Eqis Capital Management Inc. now owns 156,779 shares of the biopharmaceutical company’s stock valued at $1,058,000 after buying an additional 983 shares in the last quarter. Hedge funds and other institutional investors own 37.93% of the company’s stock.
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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