Shares of Dynavax Technologies Co. (NASDAQ:DVAX) were down 5.8% on Wednesday . The stock traded as low as $7.32 and last traded at $7.53. Approximately 2,453,677 shares were traded during mid-day trading, an increase of 119% from the average daily volume of 1,118,388 shares. The stock had previously closed at $7.99.
DVAX has been the subject of several recent analyst reports. Zacks Investment Research raised shares of Dynavax Technologies from a “sell” rating to a “hold” rating in a research note on Monday, December 31st. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $28.00 price objective (down from $32.00) on shares of Dynavax Technologies in a research note on Tuesday, February 26th. BidaskClub downgraded shares of Dynavax Technologies from a “sell” rating to a “strong sell” rating in a research note on Monday, February 25th. Finally, ValuEngine downgraded shares of Dynavax Technologies from a “hold” rating to a “sell” rating in a research note on Monday, February 4th. Three equities research analysts have rated the stock with a sell rating and four have assigned a buy rating to the stock. Dynavax Technologies has a consensus rating of “Hold” and a consensus price target of $27.00.
The company has a current ratio of 4.58, a quick ratio of 4.08 and a debt-to-equity ratio of 1.60. The stock has a market cap of $497.90 million, a PE ratio of -2.95 and a beta of 0.70.
Dynavax Technologies (NASDAQ:DVAX) last announced its quarterly earnings results on Tuesday, February 26th. The biopharmaceutical company reported ($0.64) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.60) by ($0.04). Dynavax Technologies had a negative net margin of 1,938.27% and a negative return on equity of 139.00%. The company had revenue of $3.90 million for the quarter, compared to analysts’ expectations of $3.43 million. During the same quarter in the prior year, the firm earned ($0.45) EPS. Dynavax Technologies’s quarterly revenue was up 18471.4% compared to the same quarter last year. On average, analysts expect that Dynavax Technologies Co. will post -2.1 earnings per share for the current fiscal year.
In related news, insider Michael S. Ostrach sold 35,444 shares of the business’s stock in a transaction dated Thursday, February 28th. The shares were sold at an average price of $8.94, for a total transaction of $316,869.36. Following the transaction, the insider now owns 121,581 shares in the company, valued at $1,086,934.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP David Louis Johnson sold 20,765 shares of the business’s stock in a transaction dated Thursday, February 28th. The shares were sold at an average price of $9.03, for a total transaction of $187,507.95. Following the transaction, the vice president now owns 52,786 shares in the company, valued at approximately $476,657.58. The disclosure for this sale can be found here. Insiders have sold 119,411 shares of company stock worth $1,075,091 in the last quarter. 3.47% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in DVAX. Advisor Group Inc. increased its position in shares of Dynavax Technologies by 515.3% during the fourth quarter. Advisor Group Inc. now owns 4,473 shares of the biopharmaceutical company’s stock valued at $41,000 after buying an additional 3,746 shares during the period. Legal & General Group Plc grew its holdings in Dynavax Technologies by 18.7% in the fourth quarter. Legal & General Group Plc now owns 11,814 shares of the biopharmaceutical company’s stock worth $108,000 after purchasing an additional 1,860 shares during the period. Virtu Financial LLC purchased a new stake in Dynavax Technologies in the fourth quarter worth about $117,000. Quantbot Technologies LP purchased a new stake in Dynavax Technologies in the third quarter worth about $131,000. Finally, Pacer Advisors Inc. purchased a new stake in Dynavax Technologies in the third quarter worth about $132,000. Institutional investors own 88.07% of the company’s stock.
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Dynavax Technologies Company Profile (NASDAQ:DVAX)
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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