Dynavax Technologies (DVAX) Cut to Hold at ValuEngine

Dynavax Technologies (NASDAQ:DVAX) was downgraded by equities researchers at ValuEngine from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.

Several other research analysts have also issued reports on DVAX. Cantor Fitzgerald set a $27.00 target price on Dynavax Technologies and gave the company a “buy” rating in a research report on Wednesday. BidaskClub lowered Dynavax Technologies from a “hold” rating to a “sell” rating in a research report on Friday, May 11th. JPMorgan Chase upgraded Dynavax Technologies from a “neutral” rating to an “overweight” rating and set a $25.00 target price for the company in a research report on Thursday, May 10th. Cowen restated a “buy” rating and set a $30.00 target price on shares of Dynavax Technologies in a research report on Wednesday, February 21st. Finally, Royal Bank of Canada restated a “buy” rating and set a $25.00 target price on shares of Dynavax Technologies in a research report on Friday, March 9th. Two analysts have rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $24.67.

Shares of Dynavax Technologies traded down $2.65, hitting $16.70, during trading hours on Thursday, Marketbeat Ratings reports. 5,903,597 shares of the company’s stock traded hands, compared to its average volume of 1,628,893. Dynavax Technologies has a 1 year low of $18.80 and a 1 year high of $19.15. The firm has a market capitalization of $1.18 billion, a PE ratio of -9.65 and a beta of 0.86. The company has a debt-to-equity ratio of 0.60, a current ratio of 10.85 and a quick ratio of 10.83.

Dynavax Technologies (NASDAQ:DVAX) last announced its earnings results on Tuesday, May 8th. The biopharmaceutical company reported ($0.63) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.49) by ($0.14). Dynavax Technologies had a negative net margin of 31,635.17% and a negative return on equity of 60.61%. The business had revenue of $0.17 million for the quarter, compared to analysts’ expectations of $0.82 million. During the same quarter last year, the firm earned ($0.60) EPS. The firm’s quarterly revenue was up 11.5% on a year-over-year basis. equities research analysts expect that Dynavax Technologies will post -2.1 EPS for the current fiscal year.

In related news, insider David F. Novack sold 34,214 shares of the business’s stock in a transaction that occurred on Tuesday, March 13th. The stock was sold at an average price of $16.52, for a total value of $565,215.28. Following the completion of the sale, the insider now owns 21,613 shares in the company, valued at $357,046.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David F. Novack sold 16,109 shares of the business’s stock in a transaction that occurred on Thursday, March 15th. The shares were sold at an average price of $16.30, for a total value of $262,576.70. The disclosure for this sale can be found here. Insiders sold 52,444 shares of company stock valued at $865,906 in the last quarter. 3.47% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Gables Capital Management Inc. bought a new position in Dynavax Technologies in the first quarter worth approximately $933,000. First Light Asset Management LLC raised its stake in Dynavax Technologies by 9.2% in the first quarter. First Light Asset Management LLC now owns 453,634 shares of the biopharmaceutical company’s stock worth $9,005,000 after buying an additional 38,061 shares in the last quarter. Point72 Asset Management L.P. raised its stake in Dynavax Technologies by 33.0% in the first quarter. Point72 Asset Management L.P. now owns 5,063,934 shares of the biopharmaceutical company’s stock worth $100,519,000 after buying an additional 1,255,792 shares in the last quarter. Guggenheim Capital LLC raised its stake in Dynavax Technologies by 7.2% in the first quarter. Guggenheim Capital LLC now owns 112,278 shares of the biopharmaceutical company’s stock worth $2,228,000 after buying an additional 7,522 shares in the last quarter. Finally, LPL Financial LLC bought a new position in Dynavax Technologies in the first quarter worth approximately $283,000. Hedge funds and other institutional investors own 71.46% of the company’s stock.

Dynavax Technologies Company Profile

Dynavax Technologies Corporation, a biopharmaceutical company, focuses on leveraging the power of the body's innate and adaptive immune responses through toll-like receptor (TLR) stimulation. The company's lead product candidates include HEPLISAV-B, a hepatitis B vaccine for prevention of infection caused by all known subtypes of the virus in adults age 18 years and older; SD-101, a cancer immunotherapy that is in Phase 2 clinical studies; and DV281, an investigational TLR9 agonist for the treatment of non-small cell lung cancer.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Dynavax Technologies (NASDAQ:DVAX)

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