BidaskClub Lowers Dynavax Technologies (DVAX) to Strong Sell

BidaskClub cut shares of Dynavax Technologies (NASDAQ:DVAX) from a sell rating to a strong sell rating in a research note issued to investors on Monday, February 25th.

A number of other research analysts have also recently commented on DVAX. Cowen reissued a buy rating and issued a $30.00 target price on shares of Dynavax Technologies in a research note on Tuesday, November 6th. Royal Bank of Canada reduced 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, November 6th. Zacks Investment Research cut Dynavax Technologies from a hold rating to a sell rating in a research note on Thursday, November 8th. Finally, ValuEngine upgraded shares of Dynavax Technologies from a sell rating to a hold rating in a report on Thursday, November 8th. Three analysts have rated the stock with a sell rating and four have issued a buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of $27.00.

DVAX traded down $0.46 during midday trading on Monday, reaching $7.10. 1,390,601 shares of the company were exchanged, compared to its average volume of 1,586,304. The firm has a market capitalization of $454.40 million, a P/E ratio of -2.78 and a beta of 0.70. Dynavax Technologies has a one year low of $7.08 and a one year high of $22.80. The company has a debt-to-equity ratio of 1.60, a quick ratio of 4.08 and a current ratio of 4.58.

Dynavax Technologies (NASDAQ:DVAX) last issued its quarterly earnings data on Tuesday, February 26th. The biopharmaceutical company reported ($0.64) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.60) by ($0.04). The business had revenue of $3.90 million during the quarter, compared to analysts’ expectations of $3.43 million. Dynavax Technologies had a negative return on equity of 139.00% and a negative net margin of 1,938.27%. The company’s quarterly revenue was up 18471.4% on a year-over-year basis. During the same quarter last year, the business posted ($0.45) EPS. On average, equities analysts forecast that Dynavax Technologies will post -2.1 earnings per share for the current year.

In other Dynavax Technologies news, VP David Louis Johnson sold 20,765 shares of the business’s stock in a transaction on Thursday, February 28th. The shares were sold at an average price of $9.03, for a total value of $187,507.95. Following the sale, the vice president now owns 52,786 shares in the company, valued at approximately $476,657.58. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Michael S. Ostrach sold 35,444 shares of the business’s stock in a transaction on Thursday, February 28th. The stock was sold at an average price of $8.94, for a total transaction of $316,869.36. Following the completion of the sale, the insider now owns 121,581 shares in the company, valued at approximately $1,086,934.14. The disclosure for this sale can be found here. Insiders have sold 119,411 shares of company stock valued at $1,075,091 over the last quarter. Company insiders own 3.47% of the company’s stock.

A number of large investors have recently modified their holdings of the stock. BlackRock Inc. grew its holdings in Dynavax Technologies by 1.4% during the 3rd quarter. BlackRock Inc. now owns 4,123,662 shares of the biopharmaceutical company’s stock valued at $51,134,000 after purchasing an additional 56,568 shares during the last quarter. Franklin Resources Inc. grew its stake in Dynavax Technologies by 8.3% in the 3rd quarter. Franklin Resources Inc. now owns 3,136,406 shares of the biopharmaceutical company’s stock worth $38,891,000 after acquiring an additional 239,876 shares in the last quarter. HealthCor Management L.P. grew its stake in Dynavax Technologies by 23.3% in the 3rd quarter. HealthCor Management L.P. now owns 3,121,469 shares of the biopharmaceutical company’s stock worth $38,706,000 after acquiring an additional 590,362 shares in the last quarter. Vanguard Group Inc. grew its stake in Dynavax Technologies by 1.0% in the 3rd quarter. Vanguard Group Inc. now owns 2,883,887 shares of the biopharmaceutical company’s stock worth $35,759,000 after acquiring an additional 29,898 shares in the last quarter. Finally, Vanguard Group Inc lifted its position in shares of Dynavax Technologies by 1.0% in the 3rd quarter. Vanguard Group Inc now owns 2,883,887 shares of the biopharmaceutical company’s stock worth $35,759,000 after purchasing an additional 29,898 shares during the period. Institutional investors own 88.07% of the company’s stock.

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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