Dynavax Technologies (NASDAQ:DVAX) was downgraded by equities researchers at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a research note issued on Wednesday, Marketbeat Ratings reports. They presently have a $25.00 target price on the biopharmaceutical company’s stock, down from their prior target price of $31.00. JPMorgan Chase & Co.’s target price would suggest a potential upside of 48.81% from the company’s current price.
Several other equities research analysts also recently weighed in on DVAX. BidaskClub raised shares of Dynavax Technologies from a “sell” rating to a “hold” rating in a research note on Monday, February 5th. Zacks Investment Research downgraded shares of Dynavax Technologies from a “hold” rating to a “sell” rating in a research note on Wednesday, January 10th. ValuEngine downgraded shares of Dynavax Technologies from a “hold” rating to a “sell” rating in a research note on Friday, December 1st. Cantor Fitzgerald increased their price objective on shares of Dynavax Technologies from $24.00 to $25.00 and gave the company an “overweight” rating in a research report on Thursday, November 9th. Finally, Cowen reissued a “buy” rating and issued a $30.00 price objective on shares of Dynavax Technologies in a research report on Friday, November 3rd. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $24.83.
Shares of Dynavax Technologies (DVAX) traded down $0.40 on Wednesday, reaching $16.80. 1,340,000 shares of the company traded hands, compared to its average volume of 1,480,000. Dynavax Technologies has a 1 year low of $3.90 and a 1 year high of $24.45. The stock has a market cap of $1,020.00, a P/E ratio of -8.57 and a beta of 1.08.
Large investors have recently made changes to their positions in the business. Cornerstone Capital Management Holdings LLC. acquired a new position in shares of Dynavax Technologies in the 4th quarter valued at $611,000. Paloma Partners Management Co acquired a new position in shares of Dynavax Technologies in the 4th quarter valued at $331,000. Bain Capital Public Equity Management LLC acquired a new position in shares of Dynavax Technologies in the 4th quarter valued at $4,657,000. Deutsche Bank AG boosted its holdings in shares of Dynavax Technologies by 2.4% in the 4th quarter. Deutsche Bank AG now owns 1,426,918 shares of the biopharmaceutical company’s stock valued at $26,682,000 after buying an additional 33,390 shares in the last quarter. Finally, Clearbridge LLC acquired a new position in shares of Dynavax Technologies in the 4th quarter valued at $10,335,000. 68.60% of the stock is currently owned by institutional investors.
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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.
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