Dynavax Technologies Co. (NASDAQ:DVAX) was the recipient of a significant increase in short interest during the month of October. As of October 31st, there was short interest totalling 15,327,587 shares, an increase of 47.5% from the October 15th total of 10,391,487 shares. Approximately 24.7% of the company’s stock are sold short. Based on an average daily volume of 2,066,553 shares, the short-interest ratio is currently 7.4 days.
A number of analysts recently issued reports on DVAX shares. Cantor Fitzgerald reissued a “buy” rating and set a $30.00 price objective on shares of Dynavax Technologies in a research report on Monday, October 1st. BidaskClub cut Dynavax Technologies from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 18th. ValuEngine raised Dynavax Technologies from a “sell” rating to a “hold” rating in a research report on Tuesday, October 23rd. Cowen reissued a “buy” rating and set a $30.00 price objective on shares of Dynavax Technologies in a research report on Monday, October 22nd. Finally, Zacks Investment Research raised Dynavax Technologies from a “sell” rating to a “hold” rating in a research report on Thursday, August 9th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. Dynavax Technologies currently has an average rating of “Hold” and a consensus price target of $28.00.
DVAX opened at $12.09 on Friday. The firm has a market cap of $729.47 million, a P/E ratio of -6.99 and a beta of 0.61. Dynavax Technologies has a 1 year low of $9.63 and a 1 year high of $22.80. The company has a quick ratio of 8.67, a current ratio of 8.87 and a debt-to-equity ratio of 0.76.
Dynavax Technologies (NASDAQ:DVAX) last posted its earnings results on Monday, November 5th. The biopharmaceutical company reported ($0.65) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.57) by ($0.08). Dynavax Technologies had a negative net margin of 5,044.85% and a negative return on equity of 87.67%. The company had revenue of $1.46 million for the quarter, compared to the consensus estimate of $3.16 million. During the same quarter last year, the business earned ($0.38) earnings per share. Dynavax Technologies’s quarterly revenue was up 2822.0% on a year-over-year basis. As a group, analysts predict that Dynavax Technologies will post -2.46 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. DekaBank Deutsche Girozentrale raised its holdings in Dynavax Technologies by 18.9% during the third quarter. DekaBank Deutsche Girozentrale now owns 402,000 shares of the biopharmaceutical company’s stock valued at $5,447,000 after buying an additional 64,000 shares in the last quarter. BlackRock Inc. raised its holdings in Dynavax Technologies by 1.4% during the third quarter. BlackRock Inc. now owns 4,123,662 shares of the biopharmaceutical company’s stock valued at $51,134,000 after buying an additional 56,568 shares in the last quarter. Lafayette Investments Inc. bought a new position in Dynavax Technologies during the third quarter valued at about $335,000. JPMorgan Chase & Co. raised its holdings in Dynavax Technologies by 1.8% during the third quarter. JPMorgan Chase & Co. now owns 264,669 shares of the biopharmaceutical company’s stock valued at $3,282,000 after buying an additional 4,591 shares in the last quarter. Finally, Falcon Point Capital LLC bought a new position in Dynavax Technologies during the third quarter valued at about $248,000. Institutional investors own 81.48% of the company’s stock.
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About Dynavax Technologies
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.
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