Dynavax Technologies (NASDAQ:DVAX) announced its earnings results on Monday. The biopharmaceutical company reported ($0.65) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.08), Briefing.com reports. Dynavax Technologies had a negative return on equity of 72.31% and a negative net margin of 8,570.06%. The business had revenue of $1.46 million during the quarter, compared to analysts’ expectations of $3.16 million. During the same quarter in the previous year, the firm earned ($0.38) EPS. Dynavax Technologies’s quarterly revenue was up 2822.0% on a year-over-year basis.
DVAX stock traded up $0.41 during midday trading on Wednesday, reaching $12.06. 7,962 shares of the company’s stock traded hands, compared to its average volume of 1,715,204. The company has a debt-to-equity ratio of 0.76, a current ratio of 8.87 and a quick ratio of 8.67. Dynavax Technologies has a 52 week low of $9.63 and a 52 week high of $23.30. The stock has a market capitalization of $713.82 million, a price-to-earnings ratio of -7.01 and a beta of 0.61.
A number of hedge funds have recently modified their holdings of the business. WINTON GROUP Ltd bought a new position in shares of Dynavax Technologies in the first quarter worth $199,000. Xact Kapitalforvaltning AB bought a new position in Dynavax Technologies in the first quarter valued at $200,000. Commonwealth Equity Services LLC bought a new position in Dynavax Technologies in the first quarter valued at $212,000. Gofen & Glossberg LLC IL bought a new position in Dynavax Technologies in the third quarter valued at $145,000. Finally, Tiverton Asset Management LLC bought a new position in Dynavax Technologies in the second quarter valued at $184,000. 81.48% of the stock is currently owned by institutional investors and hedge funds.
Several research firms recently commented on DVAX. Cantor Fitzgerald reiterated a “buy” rating and issued a $30.00 price objective on shares of Dynavax Technologies in a research note on Monday, August 6th. Cowen reiterated a “buy” rating and issued a $30.00 price objective on shares of Dynavax Technologies in a research note on Tuesday. Royal Bank of Canada dropped their price objective on Dynavax Technologies from $26.00 to $25.00 and set an “outperform” rating on the stock in a research note on Tuesday. ValuEngine downgraded Dynavax Technologies from a “hold” rating to a “sell” rating in a research note on Monday, July 30th. Finally, Zacks Investment Research upgraded Dynavax Technologies from a “sell” rating to a “hold” rating in a research note on Thursday, August 9th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. Dynavax Technologies presently has a consensus rating of “Hold” and a consensus target price of $28.00.
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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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