Allianz Asset Management GmbH decreased its position in shares of Dynavax Technologies Co. (NASDAQ:DVAX) by 48.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,955 shares of the biopharmaceutical company’s stock after selling 19,987 shares during the period. Allianz Asset Management GmbH’s holdings in Dynavax Technologies were worth $416,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in DVAX. Commonwealth Equity Services LLC acquired a new position in Dynavax Technologies during the 1st quarter worth $212,000. Paloma Partners Management Co acquired a new position in Dynavax Technologies during the 4th quarter worth $331,000. Lazard Asset Management LLC acquired a new position in Dynavax Technologies during the 4th quarter worth $343,000. Teacher Retirement System of Texas acquired a new position in Dynavax Technologies during the 4th quarter worth $379,000. Finally, MetLife Investment Advisors LLC acquired a new position in Dynavax Technologies during the 4th quarter worth $537,000. 77.54% of the stock is owned by hedge funds and other institutional investors.
A number of research analysts have weighed in on DVAX shares. Cantor Fitzgerald reissued an “overweight” rating and set a $27.00 target price (up previously from $25.00) on shares of Dynavax Technologies in a research report on Thursday, March 8th. Royal Bank of Canada reissued a “buy” rating and set a $25.00 target price on shares of Dynavax Technologies in a research report on Friday, March 9th. ValuEngine raised shares of Dynavax Technologies from a “sell” rating to a “hold” rating in a research report on Tuesday, March 27th. BidaskClub raised shares of Dynavax Technologies from a “hold” rating to a “buy” rating in a research report on Tuesday, March 27th. Finally, JPMorgan Chase & Co. raised shares of 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. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $24.67.
Shares of Dynavax Technologies opened at $15.45 on Thursday, according to MarketBeat.com. The stock has a market cap of $962.14 million, a PE ratio of -8.93 and a beta of 0.52. 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 Co. has a 52 week low of $8.15 and a 52 week high of $24.45.
Dynavax Technologies (NASDAQ:DVAX) last announced its quarterly earnings data on Tuesday, May 8th. The biopharmaceutical company reported ($0.63) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.49) by ($0.14). The company had revenue of $0.17 million for the quarter, compared to analyst estimates of $0.82 million. Dynavax Technologies had a negative net margin of 31,635.17% and a negative return on equity of 60.61%. The firm’s quarterly revenue was up 11.5% on a year-over-year basis. During the same period in the prior year, the company posted ($0.60) EPS. equities analysts predict that Dynavax Technologies Co. will post -2.36 EPS for the current year.
In other news, insider Michael S. Ostrach sold 4,000 shares of the company’s stock in a transaction dated Friday, June 8th. The shares were sold at an average price of $15.53, for a total transaction of $62,120.00. Following the completion of the transaction, the insider now owns 80,554 shares of the company’s stock, valued at $1,251,003.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.47% of the stock is currently owned by corporate insiders.
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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