Dynavax Technologies Corp. (DVAX) Sees Strong Trading Volume
Dynavax Technologies Corp. (NASDAQ:DVAX) saw unusually-high trading volume on Wednesday . Approximately 690,835 shares were traded during trading, an increase of 15% from the previous session’s volume of 601,301 shares.The stock last traded at $15.65 and had previously closed at $15.94.
DVAX has been the topic of a number of recent research reports. Zacks Investment Research downgraded Dynavax Technologies Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, April 19th. JPMorgan Chase & Co. downgraded Dynavax Technologies Corp. from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $29.00 to $22.00 in a report on Wednesday, April 27th. Royal Bank Of Canada downgraded Dynavax Technologies Corp. from an “outperform” rating to a “sector perform” rating and reduced their price target for the stock from $48.00 to $17.00 in a report on Wednesday, April 27th. Finally, Cowen and Company reiterated a “buy” rating and issued a $60.00 price target on shares of Dynavax Technologies Corp. in a report on Thursday, April 28th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $32.20.
The company has a 50-day moving average of $15.32 and a 200-day moving average of $17.11. The stock’s market cap is $601.71 million.
Dynavax Technologies Corp. (NASDAQ:DVAX) last posted its quarterly earnings data on Friday, August 5th. The biopharmaceutical company reported ($0.75) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.68) by $0.07. During the same quarter last year, the firm posted ($0.80) EPS. The company earned $2.65 million during the quarter, compared to the consensus estimate of $1.58 million. The company’s revenue was up 70.8% compared to the same quarter last year. Analysts predict that Dynavax Technologies Corp. will post ($2.96) earnings per share for the current fiscal year.
In other news, CEO Eddie Gray acquired 2,750 shares of the stock in a transaction that occurred on Friday, May 20th. The shares were bought at an average cost of $15.57 per share, for a total transaction of $42,817.50. Following the acquisition, the chief executive officer now owns 5,050 shares in the company, valued at approximately $78,628.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
A hedge fund recently raised its stake in Dynavax Technologies Corp. stock. Trexquant Investment LP raised its position in shares of Dynavax Technologies Corp. (NASDAQ:DVAX) by 14.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 70,200 shares of the biopharmaceutical company’s stock after buying an additional 8,911 shares during the period. Trexquant Investment LP owned approximately 0.18% of Dynavax Technologies Corp. worth $1,696,000 at the end of the most recent reporting period.
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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