Dynavax Technologies Corporation (NASDAQ:DVAX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Tuesday.

According to Zacks, “Dynavax Technologies discovers, develops, and intends to commercialize innovative products to treat and prevent allergies, infectious diseases, and chronic inflammatory diseases using versatile, proprietary approaches that alter immune system responses in highly specific ways. Dynavax’s clinical development programs are based on immunostimulatory sequences which are short DNA sequences that enhance the ability of the immune system to fight disease and control chronic inflammation. “

Several other equities analysts have also issued reports on DVAX. Royal Bank Of Canada boosted their price objective on Dynavax Technologies Corporation from $6.00 to $7.00 and gave the company a “sector perform” rating in a research report on Tuesday, May 9th. ValuEngine lowered Dynavax Technologies Corporation from a “sell” rating to a “strong sell” rating in a research report on Friday, June 2nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $19.20.

Dynavax Technologies Corporation (NASDAQ:DVAX) traded up 2.78% during mid-day trading on Tuesday, hitting $9.25. 1,518,341 shares of the stock were exchanged. Dynavax Technologies Corporation has a 12-month low of $3.20 and a 12-month high of $17.50. The stock’s market capitalization is $451.34 million. The firm has a 50-day moving average price of $7.15 and a 200-day moving average price of $5.47.

Dynavax Technologies Corporation (NASDAQ:DVAX) last posted its earnings results on Monday, May 8th. The biopharmaceutical company reported ($0.60) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.60). Dynavax Technologies Corporation had a negative return on equity of 100.45% and a negative net margin of 1,080.18%. The company had revenue of $0.15 million during the quarter, compared to analyst estimates of $0.75 million. During the same period in the previous year, the company earned ($0.70) EPS. Equities analysts predict that Dynavax Technologies Corporation will post ($1.47) earnings per share for the current fiscal year.

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A number of large investors have recently added to or reduced their stakes in the stock. DekaBank Deutsche Girozentrale purchased a new stake in Dynavax Technologies Corporation during the first quarter valued at approximately $121,000. Bank of America Corp DE boosted its stake in Dynavax Technologies Corporation by 2.3% in the first quarter. Bank of America Corp DE now owns 20,356 shares of the biopharmaceutical company’s stock valued at $121,000 after buying an additional 456 shares during the last quarter. American International Group Inc. boosted its stake in Dynavax Technologies Corporation by 7.1% in the first quarter. American International Group Inc. now owns 23,934 shares of the biopharmaceutical company’s stock valued at $142,000 after buying an additional 1,584 shares during the last quarter. Fox Run Management L.L.C. purchased a new stake in Dynavax Technologies Corporation during the second quarter valued at approximately $158,000. Finally, Parametric Portfolio Associates LLC boosted its stake in Dynavax Technologies Corporation by 3.6% in the first quarter. Parametric Portfolio Associates LLC now owns 27,151 shares of the biopharmaceutical company’s stock valued at $162,000 after buying an additional 939 shares during the last quarter. Hedge funds and other institutional investors own 55.31% of the company’s stock.

About Dynavax Technologies Corporation

Dynavax Technologies Corporation is a clinical-stage immunotherapy company. The Company is focused on leveraging the body’s innate and adaptive immune responses through toll-like receptor (TLR) stimulation. Its product candidates are being investigated for use in multiple cancer indications, as a vaccine for the prevention of hepatitis B and as a disease modifying therapy for asthma.

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