Dynavax Technologies Corp. (DVAX) Trading Down 2.8%
Dynavax Technologies Corp. (NASDAQ:DVAX)’s share price dropped 2.8% during mid-day trading on Wednesday . The stock traded as low as $11.50 and last traded at $11.67, with a volume of 441,029 shares. The stock had previously closed at $12.00.
DVAX has been the topic of several research reports. S&P Equity Research increased their target price on Dynavax Technologies Corp. from $11.28 to $16.01 in a research note on Friday, September 2nd. William Blair reissued a “buy” rating and set a $45.00 target price on shares of Dynavax Technologies Corp. in a research note on Tuesday, September 6th. Zacks Investment Research raised Dynavax Technologies Corp. from a “sell” rating to a “hold” rating in a research note on Friday, July 8th. Cowen and Company reissued an “outperform” rating and set a $45.00 target price on shares of Dynavax Technologies Corp. in a research note on Tuesday, September 6th. Finally, RBC Capital Markets reissued a “sector perform” rating and set a $16.00 target price on shares of Dynavax Technologies Corp. in a research note on Wednesday, September 7th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $25.86.
The stock’s 50 day moving average price is $14.69 and its 200-day moving average price is $16.23. The company’s market cap is $449.26 million.
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Dynavax Technologies Corp. (NASDAQ:DVAX) last issued its earnings results on Friday, August 5th. The biopharmaceutical company reported ($0.75) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.68) by $0.07. Dynavax Technologies Corp. had a negative return on equity of 64.43% and a negative net margin of 2,068.75%. The company earned $2.65 million during the quarter, compared to analysts’ expectations of $1.58 million. During the same period in the previous year, the company earned ($0.80) EPS. Dynavax Technologies Corp.’s quarterly revenue was up 70.8% on a year-over-year basis. On average, equities research analysts expect that Dynavax Technologies Corp. will post ($2.96) earnings per share for the current fiscal year.
Large investors have recently modified their holdings of the company. Legal & General Group Plc increased its stake in shares of Dynavax Technologies Corp. by 19.2% in the first quarter. Legal & General Group Plc now owns 6,235 shares of the biopharmaceutical company’s stock valued at $117,000 after buying an additional 1,003 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in Dynavax Technologies Corp. during the second quarter valued at approximately $107,000. Alpine Partners VI LLC acquired a new position in Dynavax Technologies Corp. during the first quarter valued at approximately $192,000. Boston Advisors LLC boosted its position in Dynavax Technologies Corp. by 1.3% in the second quarter. Boston Advisors LLC now owns 12,330 shares of the biopharmaceutical company’s stock valued at $180,000 after buying an additional 155 shares during the period. Finally, State Board of Administration of Florida Retirement System boosted its position in Dynavax Technologies Corp. by 12.7% in the second quarter. State Board of Administration of Florida Retirement System now owns 15,836 shares of the biopharmaceutical company’s stock valued at $231,000 after buying an additional 1,779 shares during the period. 83.82% of the stock is owned by institutional investors.
About Dynavax Technologies Corp.
Dynavax Technologies Corporation (Dynavax) is a clinical-stage biopharmaceutical company. The Company uses toll-like receptor (TLR) biology to discover and develop vaccines and therapeutics. Its development programs are focused on vaccines and cancer immunotherapy. The Company’s lead vaccine product candidate is HEPLISAV-B, an investigational adult hepatitis B vaccine, which combines its TLR9 agonist adjuvant and recombinant hepatitis B surface antigen (rHBsAg).
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