BidaskClub Downgrades Dynavax Technologies (DVAX) to Strong Sell

Dynavax Technologies (NASDAQ:DVAX) was downgraded by investment analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a note issued to investors on Friday.

A number of other research firms have also recently issued reports on DVAX. Royal Bank of Canada reiterated an “outperform” rating and issued a $28.00 target price (up previously from $26.00) on shares of Dynavax Technologies in a research note on Monday, September 25th. Cowen reiterated a “buy” rating and issued a $30.00 target price on shares of Dynavax Technologies in a research note on Friday, November 3rd. ValuEngine cut shares of Dynavax Technologies from a “hold” rating to a “sell” rating in a research note on Friday, December 1st. Zacks Investment Research cut shares of Dynavax Technologies from a “hold” rating to a “sell” rating in a research note on Wednesday, January 10th. Finally, Cantor Fitzgerald lifted their target price on shares of Dynavax Technologies from $24.00 to $25.00 and gave the company an “overweight” rating in a research note on Thursday, November 9th. Three research analysts have rated the stock with a sell rating and five have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $25.17.

Dynavax Technologies (NASDAQ:DVAX) traded up $0.22 during trading hours on Friday, hitting $15.65. 1,004,461 shares of the stock were exchanged, compared to its average volume of 1,420,000. Dynavax Technologies has a 52 week low of $3.70 and a 52 week high of $24.45. The company has a market capitalization of $948.33, a PE ratio of -7.98 and a beta of 1.31.

Dynavax Technologies (NASDAQ:DVAX) last posted its earnings results on Friday, November 3rd. The biopharmaceutical company reported ($0.38) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.53) by $0.15. Dynavax Technologies had a negative net margin of 1,177.60% and a negative return on equity of 65.97%. The company had revenue of $0.05 million during the quarter, compared to analysts’ expectations of $0.28 million. During the same quarter in the previous year, the company posted ($0.90) earnings per share. Dynavax Technologies’s quarterly revenue was down 68.8% compared to the same quarter last year. research analysts forecast that Dynavax Technologies will post -1.72 EPS for the current year.

In related news, VP David Louis Johnson sold 3,092 shares of the business’s stock in a transaction that occurred on Thursday, January 4th. The shares were sold at an average price of $18.60, for a total value of $57,511.20. Following the completion of the transaction, the vice president now owns 7,780 shares in the company, valued at approximately $144,708. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Robert Coffman sold 7,500 shares of the business’s stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $18.90, for a total transaction of $141,750.00. The disclosure for this sale can be found here. Insiders own 2.90% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the stock. Fox Run Management L.L.C. bought a new position in Dynavax Technologies in the 4th quarter worth approximately $257,000. Schwab Charles Investment Management Inc. raised its position in shares of Dynavax Technologies by 17.5% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 276,430 shares of the biopharmaceutical company’s stock valued at $5,170,000 after acquiring an additional 41,120 shares during the last quarter. Creative Planning raised its position in shares of Dynavax Technologies by 52.1% during the 4th quarter. Creative Planning now owns 230,848 shares of the biopharmaceutical company’s stock valued at $4,317,000 after acquiring an additional 79,025 shares during the last quarter. Vident Investment Advisory LLC raised its position in shares of Dynavax Technologies by 3.1% during the 3rd quarter. Vident Investment Advisory LLC now owns 150,258 shares of the biopharmaceutical company’s stock valued at $3,231,000 after acquiring an additional 4,553 shares during the last quarter. Finally, First Republic Investment Management Inc. bought a new stake in shares of Dynavax Technologies during the 3rd quarter valued at $2,414,000. Hedge funds and other institutional investors own 70.54% of the company’s stock.

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About Dynavax Technologies

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.

Analyst Recommendations for Dynavax Technologies (NASDAQ:DVAX)

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