Sinovac Biotech, Ltd. (SVA) Rating Lowered to Hold at BidaskClub

Sinovac Biotech, Ltd. (NASDAQ:SVA) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

Separately, ValuEngine raised shares of Sinovac Biotech from a “sell” rating to a “hold” rating in a report on Friday, June 30th.

Shares of Sinovac Biotech (SVA) opened at 6.80 on Friday. The firm’s market cap is $387.38 million. Sinovac Biotech has a 12 month low of $4.60 and a 12 month high of $6.94. The company’s 50 day moving average is $6.79 and its 200-day moving average is $6.00.

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Several hedge funds have recently bought and sold shares of SVA. Morgan Stanley lifted 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 worth $15,597,000 after acquiring an additional 2,718,762 shares during the last quarter. GLG Partners LP increased its stake 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 period. Renaissance Technologies LLC increased its stake 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 during the period. Verity Asset Management Inc. acquired a new position in shares of Sinovac Biotech in the first quarter valued at approximately $158,000. Finally, Spark Investment Management LLC increased its stake 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 during the period. 30.69% of the stock is owned by hedge funds and other institutional investors.

Sinovac Biotech Company Profile

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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