Dynavax Technologies (DVAX) Stock Price Up 6%
Dynavax Technologies Co. (NASDAQ:DVAX) shares rose 6% during mid-day trading on Tuesday . The company traded as high as $11.58 and last traded at $11.54. Approximately 1,202,048 shares traded hands during mid-day trading, a decline of 10% from the average daily volume of 1,339,666 shares. The stock had previously closed at $10.89.
DVAX has been the topic of a number of analyst reports. ValuEngine downgraded Dynavax Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, July 10th. Zacks Investment Research upgraded Dynavax Technologies from a “sell” rating to a “hold” rating in a report on Tuesday, July 24th. BidaskClub downgraded Dynavax Technologies from a “hold” rating to a “sell” rating in a report on Wednesday, August 1st. Finally, Cantor Fitzgerald reiterated a “buy” rating and issued a $30.00 price target on shares of Dynavax Technologies in a report on Monday, August 6th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $27.50.
The company has a quick ratio of 8.67, a current ratio of 8.87 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $776.43 million, a price-to-earnings ratio of -6.69 and a beta of 0.30.
A number of hedge funds have recently made changes to their positions in the stock. BlackRock Inc. grew its stake in Dynavax Technologies by 5.2% during the 2nd quarter. BlackRock Inc. now owns 4,067,094 shares of the biopharmaceutical company’s stock worth $62,023,000 after buying an additional 202,306 shares during the last quarter. Senvest Management LLC grew its stake in Dynavax Technologies by 52.7% during the 2nd quarter. Senvest Management LLC now owns 2,336,089 shares of the biopharmaceutical company’s stock worth $35,625,000 after buying an additional 806,102 shares during the last quarter. Eagle Asset Management Inc. purchased a new position in Dynavax Technologies during the 2nd quarter worth $35,054,000. PointState Capital LP purchased a new position in Dynavax Technologies during the 2nd quarter worth $28,800,000. Finally, Carillon Tower Advisers Inc. purchased a new position in Dynavax Technologies during the 2nd quarter worth $24,951,000. Hedge funds and other institutional investors own 82.02% of the company’s stock.
About Dynavax Technologies (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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