Zacks Investment Research upgraded shares of Dynavax Technologies (NASDAQ:DVAX) from a hold rating to a buy rating in a research note issued to investors on Friday morning, Zacks.com reports. Zacks Investment Research currently has $4.50 price objective on the biopharmaceutical company’s stock.
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. “
Other equities analysts also recently issued research reports about the company. Cantor Fitzgerald upgraded Dynavax Technologies from a neutral rating to an overweight rating and set a $20.00 price objective on the stock in a research report on Wednesday, July 10th. BidaskClub upgraded Dynavax Technologies from a sell rating to a hold rating in a research report on Saturday, June 29th. Cowen reiterated a buy rating on shares of Dynavax Technologies in a research report on Monday, June 3rd. William Blair reiterated a buy rating on shares of Dynavax Technologies in a research report on Friday. Finally, ValuEngine upgraded Dynavax Technologies from a sell rating to a hold rating in a research report on Thursday, August 1st. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average price target of $16.88.
Shares of NASDAQ DVAX traded up $0.08 during midday trading on Friday, hitting $3.99. The stock had a trading volume of 1,309,500 shares, compared to its average volume of 2,034,888. The stock has a 50 day simple moving average of $3.49 and a 200-day simple moving average of $6.30. Dynavax Technologies has a 1 year low of $2.60 and a 1 year high of $14.35. The company has a debt-to-equity ratio of 19.95, a quick ratio of 3.47 and a current ratio of 4.30.
Dynavax Technologies (NASDAQ:DVAX) last released its earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($0.66) earnings per share for the quarter, missing the consensus estimate of ($0.63) by ($0.03). Dynavax Technologies had a negative net margin of 781.10% and a negative return on equity of 304.71%. The firm had revenue of $8.30 million during the quarter, compared to analysts’ expectations of $8.24 million. During the same quarter last year, the business earned ($0.63) EPS. The business’s revenue was up 564.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Dynavax Technologies will post -1.99 EPS for the current fiscal year.
In other Dynavax Technologies news, Director Francis Cano bought 16,667 shares of the business’s stock in a transaction on Monday, August 12th. The stock was bought at an average price of $3.00 per share, with a total value of $50,001.00. Following the completion of the purchase, the director now directly owns 118,484 shares in the company, valued at $355,452. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Robert Coffman sold 32,218 shares of the firm’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $4.58, for a total value of $147,558.44. Following the sale, the senior vice president now directly owns 132,470 shares of the company’s stock, valued at approximately $606,712.60. The disclosure for this sale can be found here. Company insiders own 4.90% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the business. BlackRock Inc. increased its stake in Dynavax Technologies by 7.9% during the second quarter. BlackRock Inc. now owns 4,570,570 shares of the biopharmaceutical company’s stock worth $18,236,000 after acquiring an additional 332,875 shares during the last quarter. Senvest Management LLC increased its stake in Dynavax Technologies by 20.1% during the second quarter. Senvest Management LLC now owns 3,949,052 shares of the biopharmaceutical company’s stock worth $15,757,000 after acquiring an additional 660,526 shares during the last quarter. Federated Investors Inc. PA increased its stake in Dynavax Technologies by 4.1% during the first quarter. Federated Investors Inc. PA now owns 3,813,400 shares of the biopharmaceutical company’s stock worth $27,876,000 after acquiring an additional 151,800 shares during the last quarter. Vanguard Group Inc. increased its stake in Dynavax Technologies by 15.2% during the second quarter. Vanguard Group Inc. now owns 3,603,383 shares of the biopharmaceutical company’s stock worth $14,377,000 after acquiring an additional 475,003 shares during the last quarter. Finally, Chicago Capital LLC increased its stake in Dynavax Technologies by 15.5% during the second quarter. Chicago Capital LLC now owns 2,937,266 shares of the biopharmaceutical company’s stock worth $11,720,000 after acquiring an additional 393,124 shares during the last quarter. 83.48% of the stock is owned by institutional investors.
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 markets HEPLISAV-B, a hepatitis B vaccine for prevention of infection caused by all known subtypes of hepatitis B virus in adults age 18 years and older.
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