Novartis Falls as Investors Continue to Digest September Trial Setbacks

Novartis AG (NVS) is down 3.4% today. Here is some analysis on what might have caused this price movement.

Analysis: The most likely driver is continued pressure from two major September pipeline setbacks that weakened confidence in Novartis’ late-stage growth outlook. This could also be because investors are still reacting to lower analyst price targets issued after those trial disappointments, even without a fresh company announcement today.

Details:

On September 4, Novartis said its Phase III Lp(a)HORIZON study for pelacarsen did not meet its primary endpoint of reducing cardiovascular events.

On September 8, Novartis said its Phase III HARBOR study for del-desiran in myotonic dystrophy type 1 failed to show a statistically significant benefit on its primary endpoint.

The back-to-back misses raised concern that some expected future pipeline value may take longer to materialize or may need to be reassessed.

September analyst actions moved more cautious after the setbacks, with at least one firm lowering its target and maintaining a hold view, reinforcing the weaker sentiment around the shares.

Sources:

Novartis, Novartis, Yahoo Finance

Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.

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$NVS Hedge Fund Activity

We have seen 622 institutional investors add shares of $NVS stock to their portfolio, and 659 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

DODGE & COX removed 6,208,010 shares (-89.1%) from their portfolio in Q2 2026, for an estimated $972,919,327
GOLDMAN SACHS GROUP INC removed 3,545,603 shares (-54.3%) from their portfolio in Q2 2026, for an estimated $555,666,902
JPMORGAN CHASE & CO added 2,264,447 shares (+inf%) to their portfolio in Q2 2026, for an estimated $354,884,133
FISHER ASSET MANAGEMENT, LLC added 1,637,629 shares (+11.8%) to their portfolio in Q2 2026, for an estimated $256,649,216
HOLOCENE ADVISORS, LP added 1,037,332 shares (+inf%) to their portfolio in Q2 2026, for an estimated $162,570,671
PRIMECAP MANAGEMENT CO/CA/ removed 975,230 shares (-12.9%) from their portfolio in Q2 2026, for an estimated $152,838,045
MILLENNIUM MANAGEMENT LLC added 758,029 shares (+inf%) to their portfolio in Q2 2026, for an estimated $118,798,304

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.

$NVS Congressional Stock Trading

Members of Congress have traded $NVS stock 1 times in the past 6 months. Of those trades, 0 have been purchases and 1 have been sales.

Here’s a breakdown of recent trading of $NVS stock by members of Congress over the last 6 months:

REPRESENTATIVE KEVIN HERN sold up to $50,000 on 08/27.

To track congressional stock trading, check out Quiver Quantitative's congressional trading dashboard. You can access data on congressional stock trades through the Quiver Quantitative API Congress trades endpoint.

This article is not financial advice. See Quiver Quantitative's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.