Zacks Investment Research cut shares of Dynavax Technologies Corp. (NASDAQ:DVAX) from a hold rating to a sell rating in a research report report published on Tuesday morning.
According to Zacks, “Dynavax Technologies discovers, develops, and intends to commercialize innovative products to treat and prevent allergies, infectious diseases, and chronic inflammatory diseases using versatile, proprietary approaches that alter immune system responses in highly specific ways. Dynavax’s clinical development programs are based on immunostimulatory sequences which are short DNA sequences that enhance the ability of the immune system to fight disease and control chronic inflammation. “
Several other brokerages have also recently commented on DVAX. William Blair reiterated an outperform rating and issued a $17.00 target price (down from $45.00) on shares of Dynavax Technologies Corp. in a report on Saturday, November 19th. S&P Equity Research increased their price target on shares of Dynavax Technologies Corp. from $11.28 to $16.01 in a research report on Friday, September 2nd. RBC Capital Markets reissued a sector perform rating and issued a $16.00 price target on shares of Dynavax Technologies Corp. in a research report on Wednesday, September 7th. Finally, Cowen and Company reissued an outperform rating and issued a $45.00 price target on shares of Dynavax Technologies Corp. in a research report on Tuesday, September 6th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus target price of $20.14.
Dynavax Technologies Corp. (NASDAQ:DVAX) opened at 4.85 on Tuesday. Dynavax Technologies Corp. has a 52 week low of $3.20 and a 52 week high of $29.86. The stock has a 50 day moving average of $9.10 and a 200 day moving average of $13.21. The stock’s market capitalization is $186.86 million.
Dynavax Technologies Corp. (NASDAQ:DVAX) last announced its earnings results on Monday, November 7th. The biopharmaceutical company reported ($0.90) EPS for the quarter, missing the consensus estimate of ($0.75) by $0.15. Dynavax Technologies Corp. had a negative return on equity of 78.57% and a negative net margin of 2,650.25%. The firm earned $0.20 million during the quarter, compared to analyst estimates of $2.44 million. During the same quarter in the previous year, the business earned ($0.82) earnings per share. The business’s quarterly revenue was down 83.3% compared to the same quarter last year. On average, equities research analysts predict that Dynavax Technologies Corp. will post ($3.21) earnings per share for the current fiscal year.
Institutional investors have recently modified their holdings of the stock. Meeder Asset Management Inc. acquired a new position in shares of Dynavax Technologies Corp. during the second quarter valued at $107,000. Quantbot Technologies LP acquired a new position in shares of Dynavax Technologies Corp. during the third quarter valued at $102,000. Rathbone Brothers plc acquired a new position in shares of Dynavax Technologies Corp. during the third quarter valued at $105,000. Two Sigma Securities LLC acquired a new position in shares of Dynavax Technologies Corp. during the third quarter valued at $115,000. Finally, SG Americas Securities LLC acquired a new position in shares of Dynavax Technologies Corp. during the third quarter valued at $125,000. 86.80% of the stock is currently owned by hedge funds and other institutional investors.
Dynavax Technologies Corp. Company Profile
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).