Dynavax Technologies Corp. (DVAX) Given Average Rating of “Hold” by Brokerages
Shares of Dynavax Technologies Corp. (NASDAQ:DVAX) have been assigned a consensus recommendation of “Hold” from the seven ratings firms that are presently covering the stock. Four research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $26.84.
A number of brokerages recently commented on DVAX. Zacks Investment Research upgraded shares of Dynavax Technologies Corp. from a “sell” rating to a “hold” rating in a research note on Monday, June 27th. Cowen and Company restated an “outperform” rating and set a $45.00 target price on shares of Dynavax Technologies Corp. in a research report on Tuesday, September 6th. RBC Capital Markets restated a “sector perform” rating and set a $16.00 target price on shares of Dynavax Technologies Corp. in a research report on Wednesday, September 7th. Finally, S&P Equity Research increased their target price on shares of Dynavax Technologies Corp. from $11.28 to $16.01 in a research report on Friday, September 2nd.
Several hedge funds have recently modified their holdings of DVAX. State Street Corp increased its stake in shares of Dynavax Technologies Corp. by 49.1% in the first quarter. State Street Corp now owns 1,665,452 shares of the biopharmaceutical company’s stock worth $32,038,000 after buying an additional 548,310 shares during the period. UBS Asset Management Americas Inc. increased its stake in shares of Dynavax Technologies Corp. by 3,321.5% in the first quarter. UBS Asset Management Americas Inc. now owns 558,964 shares of the biopharmaceutical company’s stock worth $10,754,000 after buying an additional 542,627 shares during the period. Cormorant Asset Management LLC increased its stake in shares of Dynavax Technologies Corp. by 69.6% in the first quarter. Cormorant Asset Management LLC now owns 975,000 shares of the biopharmaceutical company’s stock worth $18,759,000 after buying an additional 400,000 shares during the period. Vivo Capital LLC purchased a new stake in shares of Dynavax Technologies Corp. during the first quarter worth $6,883,000. Finally, Clovis Capital Management LP increased its stake in shares of Dynavax Technologies Corp. by 97.8% in the first quarter. Clovis Capital Management LP now owns 426,245 shares of the biopharmaceutical company’s stock worth $8,201,000 after buying an additional 210,766 shares during the period. 83.82% of the stock is owned by institutional investors.
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Dynavax Technologies Corp. (NASDAQ:DVAX) traded up 0.19% during midday trading on Thursday, reaching $10.68. The company’s stock had a trading volume of 440,945 shares. The firm’s market capitalization is $411.15 million. The stock’s 50-day moving average price is $12.42 and its 200-day moving average price is $15.54. Dynavax Technologies Corp. has a 12 month low of $10.11 and a 12 month high of $29.86.
Dynavax Technologies Corp. (NASDAQ:DVAX) last announced its quarterly earnings results on Friday, August 5th. The biopharmaceutical company reported ($0.75) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.68) by $0.07. Dynavax Technologies Corp. had a negative net margin of 2,068.75% and a negative return on equity of 64.43%. The company earned $2.65 million during the quarter, compared to analyst estimates of $1.58 million. During the same quarter last year, the company posted ($0.80) EPS. The firm’s quarterly revenue was up 70.8% on a year-over-year basis. Analysts predict that Dynavax Technologies Corp. will post ($2.96) EPS for the current year.
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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