Dynavax Technologies Corporation (DVAX) Trading Down 9.4%

Dynavax Technologies Corporation (NASDAQ:DVAX) shares traded down 9.4% on Tuesday . The stock traded as low as $18.20 and last traded at $18.35. 4,069,700 shares were traded during mid-day trading, an increase of 115% from the average session volume of 1,889,366 shares. The stock had previously closed at $20.25.

Several research analysts have recently weighed in on the company. Cowen and Company restated a “buy” rating and issued a $30.00 price target on shares of Dynavax Technologies Corporation in a research note on Friday, November 3rd. Cantor Fitzgerald assumed coverage on Dynavax Technologies Corporation in a research report on Friday, September 15th. They set an “overweight” rating and a $24.00 price objective for the company. Royal Bank Of Canada reiterated an “outperform” rating and set a $28.00 price objective (up previously from $26.00) on shares of Dynavax Technologies Corporation in a research report on Monday, September 25th. ValuEngine raised Dynavax Technologies Corporation from a “sell” rating to a “hold” rating in a report on Thursday, September 7th. Finally, William Blair reissued an “outperform” rating and set a $30.00 price target on shares of Dynavax Technologies Corporation in a report on Wednesday, August 9th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Dynavax Technologies Corporation presently has an average rating of “Buy” and a consensus price target of $25.17.

Dynavax Technologies Corporation (NASDAQ:DVAX) last announced its quarterly earnings results on Friday, November 3rd. The biopharmaceutical company reported ($0.38) EPS for the quarter, beating analysts’ consensus estimates of ($0.53) by $0.15. Dynavax Technologies Corporation had a negative return on equity of 65.97% and a negative net margin of 1,177.60%. The company had revenue of $0.05 million during the quarter, compared to analyst estimates of $0.28 million. During the same period in the prior year, the company earned ($0.90) earnings per share. The firm’s revenue was down 68.8% on a year-over-year basis. analysts expect that Dynavax Technologies Corporation will post -1.72 EPS for the current fiscal year.

Hedge funds have recently modified their holdings of the business. Swiss National Bank raised its position in Dynavax Technologies Corporation by 25.5% during the second quarter. Swiss National Bank now owns 70,978 shares of the biopharmaceutical company’s stock valued at $685,000 after purchasing an additional 14,400 shares during the period. Russell Investments Group Ltd. raised its holdings in shares of Dynavax Technologies Corporation by 24.0% in the second quarter. Russell Investments Group Ltd. now owns 155,095 shares of the biopharmaceutical company’s stock worth $1,496,000 after buying an additional 30,036 shares during the period. Patriot Financial Group Insurance Agency LLC raised its holdings in shares of Dynavax Technologies Corporation by 50.0% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 18,000 shares of the biopharmaceutical company’s stock worth $419,000 after buying an additional 6,000 shares during the period. KCG Holdings Inc. purchased a new stake in shares of Dynavax Technologies Corporation in the first quarter worth approximately $402,000. Finally, Lord Abbett & CO. LLC purchased a new stake in shares of Dynavax Technologies Corporation in the second quarter worth approximately $7,777,000. Institutional investors and hedge funds own 58.55% of the company’s stock.

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Dynavax Technologies Corporation Company Profile

Dynavax Technologies Corporation is a clinical-stage immunotherapy company. The Company is focused on leveraging the body’s innate and adaptive immune responses through toll-like receptor (TLR) stimulation. Its product candidates are being investigated for use in multiple cancer indications, as a vaccine for the prevention of hepatitis B and as a disease modifying therapy for asthma.

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