Why Novartis (NVS) Stock Is Down Today

Novartis (NVS) is down 13.3% today. Here is some analysis on what might have caused this price movement.

Analysis: The sharp move appears to be driven mainly by Novartis disclosing that its Phase III HARBOR study for del-desiran in myotonic dystrophy type 1 missed its primary endpoint, a major setback for a closely watched neuromuscular program. Investors also seem to be reacting to broader pipeline pressure after another recent late-stage miss for pelacarsen, which likely amplified concerns about future growth drivers even though Novartis maintained its 2025-2030 sales growth target. ([rss.globenewswire.com](https://rss.globenewswire.com/news-release/2026/09/08/3357301/0/en/novartis-provides-update-on-delpacibart-etedesiran-del-desiran-phase-iii-harbor-study-for-the-treatment-of-myotonic-dystrophy-type-1-dm1.html))

Details:

Novartis said del-desiran failed to show a statistically significant improvement versus placebo on the study’s primary endpoint, video hand opening time, in patients with DM1. ([rss.globenewswire.com](https://rss.globenewswire.com/news-release/2026/09/08/3357301/0/en/novartis-provides-update-on-delpacibart-etedesiran-del-desiran-phase-iii-harbor-study-for-the-treatment-of-myotonic-dystrophy-type-1-dm1.html))

The company added that the drug still showed signs of activity in secondary and exploratory measures, and it plans to review the full dataset before deciding the next development path. ([rss.globenewswire.com](https://rss.globenewswire.com/news-release/2026/09/08/3357301/0/en/novartis-provides-update-on-delpacibart-etedesiran-del-desiran-phase-iii-harbor-study-for-the-treatment-of-myotonic-dystrophy-type-1-dm1.html))

Management kept its 5-6% five-year sales CAGR guidance for 2025-2030, but that reassurance did not offset the immediate disappointment around the trial outcome. ([rss.globenewswire.com](https://rss.globenewswire.com/news-release/2026/09/08/3357301/0/en/novartis-provides-update-on-delpacibart-etedesiran-del-desiran-phase-iii-harbor-study-for-the-treatment-of-myotonic-dystrophy-type-1-dm1.html))

The selloff likely became more severe because this arrived just days after Novartis disclosed that pelacarsen’s Phase III Lp(a)HORIZON trial also missed its main goal, adding to worries about pipeline momentum. ([novartis.com](https://www.novartis.com/news))

Sources:

Novartis, AP News, 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 650 institutional investors add shares of $NVS stock to their portfolio, and 738 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
STATE STREET CORP removed 1,335,231 shares (-96.3%) from their portfolio in Q2 2026, for an estimated $209,257,402
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

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 2 times in the past 6 months. Of those trades, 2 have been purchases and 0 have been sales.

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

SENATOR ALAN ARMSTRONG has traded it 2 times. They made 2 purchases worth up to $65,000 on 03/31, 03/30 and 0 sales.

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.