Dynavax Technologies Corp. (DVAX) Shares Down 3.7%
Shares of Dynavax Technologies Corp. (NASDAQ:DVAX) were down 3.7% during mid-day trading on Wednesday . The stock traded as low as $14.53 and last traded at $14.68, with a volume of 292,187 shares. The stock had previously closed at $15.25.
Several analysts have recently issued reports on DVAX shares. Zacks Investment Research upgraded Dynavax Technologies Corp. from a “sell” rating to a “hold” rating in a research note on Wednesday, May 25th. JPMorgan Chase & Co. downgraded Dynavax Technologies Corp. from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $29.00 to $22.00 in a research note on Wednesday, April 27th. Cowen and Company reiterated a “buy” rating and set a $60.00 price target on shares of Dynavax Technologies Corp. in a research note on Thursday, April 28th. Finally, Royal Bank Of Canada downgraded Dynavax Technologies Corp. from an “outperform” rating to a “sector perform” rating and decreased their price target for the stock from $48.00 to $17.00 in a research note on Wednesday, April 27th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Dynavax Technologies Corp. presently has an average rating of “Hold” and an average target price of $32.20.
The firm has a 50-day moving average of $15.16 and a 200-day moving average of $18.57. The firm’s market capitalization is $560.87 million.
Dynavax Technologies Corp. (NASDAQ:DVAX) last issued its quarterly earnings data on Monday, May 9th. The biopharmaceutical company reported ($0.70) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.63) by $0.07. The company earned $942 million during the quarter, compared to analyst estimates of $627 million. Equities analysts forecast that Dynavax Technologies Corp. will post ($2.90) earnings per share for the current fiscal year.
In other Dynavax Technologies Corp. news, CEO Eddie Gray acquired 2,750 shares of the company’s stock in a transaction that occurred on Friday, May 20th. The shares were acquired at an average price of $15.57 per share, with a total value of $42,817.50. Following the purchase, the chief executive officer now owns 5,050 shares of the company’s stock, valued at approximately $78,628.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Other hedge funds have recently added to or reduced their stakes in the company. Swiss National Bank increased its stake in Dynavax Technologies Corp. by 5.7% in the fourth quarter. Swiss National Bank now owns 48,528 shares of the biopharmaceutical company’s stock valued at $1,172,000 after buying an additional 2,600 shares in the last quarter. EAM Investors LLC increased its stake in Dynavax Technologies Corp. by 0.4% in the fourth quarter. EAM Investors LLC now owns 159,125 shares of the biopharmaceutical company’s stock valued at $3,844,000 after buying an additional 654 shares in the last quarter. Trexquant Investment LP increased its stake in Dynavax Technologies Corp. by 14.5% in the fourth quarter. Trexquant Investment LP now owns 70,200 shares of the biopharmaceutical company’s stock valued at $1,696,000 after buying an additional 8,911 shares in the last quarter. Alps Advisors Inc. purchased a new stake in Dynavax Technologies Corp. during the fourth quarter valued at about $1,223,000. Finally, California State Teachers Retirement System increased its stake in Dynavax Technologies Corp. by 1.8% in the fourth quarter. California State Teachers Retirement System now owns 67,895 shares of the biopharmaceutical company’s stock valued at $1,640,000 after buying an additional 1,177 shares in the last quarter.
Dynavax Technologies Corporation (Dynavax) is a clinical-stage biopharmaceutical company. The Company uses toll-like receptor (TLR) biology to discover and develop vaccines and therapeutics. Its development programs are focused on vaccines and cancer immunotherapy. The Company’s lead vaccine product candidate is HEPLISAV-B, an investigational adult hepatitis B vaccine, which combines its TLR9 agonist adjuvant and recombinant hepatitis B surface antigen (rHBsAg).
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