Sinovac Biotech (SVA) Upgraded by BidaskClub to Buy

BidaskClub upgraded shares of Sinovac Biotech (NASDAQ:SVA) from a hold rating to a buy rating in a research note released on Wednesday.

Shares of Sinovac Biotech (NASDAQ SVA) traded up $0.04 during trading on Wednesday, reaching $8.01. The company had a trading volume of 62,926 shares, compared to its average volume of 88,767. The company has a market capitalization of $456.66, a price-to-earnings ratio of 25.03 and a beta of 0.13. Sinovac Biotech has a 1-year low of $4.60 and a 1-year high of $8.11.

A number of institutional investors have recently modified their holdings of the stock. State Street Corp lifted its holdings in Sinovac Biotech by 18.5% during the second quarter. State Street Corp now owns 49,281 shares of the biopharmaceutical company’s stock worth $333,000 after acquiring an additional 7,711 shares during the period. Citadel Advisors LLC lifted its holdings in Sinovac Biotech by 189.8% during the third quarter. Citadel Advisors LLC now owns 34,193 shares of the biopharmaceutical company’s stock worth $241,000 after acquiring an additional 22,393 shares during the period. SG Americas Securities LLC bought a new stake in Sinovac Biotech during the third quarter worth $163,000. Renaissance Technologies LLC lifted its holdings in Sinovac Biotech by 8.0% during the second quarter. Renaissance Technologies LLC now owns 1,814,300 shares of the biopharmaceutical company’s stock worth $12,247,000 after acquiring an additional 134,810 shares during the period. Finally, GLG Partners LP lifted its holdings in Sinovac Biotech by 144.8% during the second quarter. GLG Partners LP now owns 282,611 shares of the biopharmaceutical company’s stock worth $1,908,000 after acquiring an additional 167,165 shares during the period. Institutional investors and hedge funds own 31.80% of the company’s stock.

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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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