Dynavax Technologies Co. (DVAX) Short Interest Up 15.3% in July

Dynavax Technologies Co. (NASDAQ:DVAX) was the target of a large increase in short interest in July. As of July 31st, there was short interest totalling 10,615,838 shares, an increase of 15.3% from the July 13th total of 9,205,482 shares. Approximately 17.2% of the shares of the stock are sold short. Based on an average daily volume of 1,249,567 shares, the days-to-cover ratio is presently 8.5 days.

DVAX opened at $13.30 on Monday. Dynavax Technologies has a fifty-two week low of $12.70 and a fifty-two week high of $24.45. The company has a debt-to-equity ratio of 0.76, a quick ratio of 10.83 and a current ratio of 8.87. The company has a market cap of $839.05 million, a price-to-earnings ratio of -7.69 and a beta of 0.29.

Dynavax Technologies (NASDAQ:DVAX) last posted its earnings results on Monday, August 6th. The biopharmaceutical company reported ($0.63) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.62) by ($0.01). Dynavax Technologies had a negative return on equity of 72.31% and a negative net margin of 8,570.06%. The business had revenue of $1.25 million for the quarter, compared to the consensus estimate of $1.88 million. During the same period in the previous year, the firm earned ($0.41) earnings per share. The company’s revenue was up 1094.3% compared to the same quarter last year. equities research analysts forecast that Dynavax Technologies will post -2.39 EPS for the current fiscal year.

A number of equities research analysts have weighed in on the stock. Cantor Fitzgerald set a $27.00 target price on shares of Dynavax Technologies and gave the stock a “buy” rating in a report on Monday, April 16th. BidaskClub lowered shares of Dynavax Technologies from a “hold” rating to a “sell” rating in a report on Friday, May 11th. ValuEngine lowered shares of Dynavax Technologies from a “buy” rating to a “hold” rating in a report on Thursday, May 17th. Finally, JPMorgan Chase & Co. raised shares of Dynavax Technologies from a “neutral” rating to an “overweight” rating and set a $25.00 target price on the stock in a report on Thursday, May 10th. Two analysts have rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $27.50.

In related news, insider Michael S. Ostrach sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, June 8th. The shares were sold at an average price of $15.53, for a total transaction of $62,120.00. Following the completion of the transaction, the insider now directly owns 80,554 shares in the company, valued at approximately $1,251,003.62. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 3.47% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of DVAX. Millennium Management LLC bought a new stake in Dynavax Technologies during the 4th quarter worth approximately $1,889,000. MetLife Investment Advisors LLC bought a new stake in shares of Dynavax Technologies in the 4th quarter valued at $537,000. Wells Fargo & Company MN boosted its stake in shares of Dynavax Technologies by 9.2% in the 1st quarter. Wells Fargo & Company MN now owns 45,516 shares of the biopharmaceutical company’s stock valued at $903,000 after purchasing an additional 3,834 shares during the last quarter. Alps Advisors Inc. boosted its stake in shares of Dynavax Technologies by 21.0% in the 1st quarter. Alps Advisors Inc. now owns 81,272 shares of the biopharmaceutical company’s stock valued at $1,613,000 after purchasing an additional 14,125 shares during the last quarter. Finally, Hussman Strategic Advisors Inc. bought a new stake in shares of Dynavax Technologies in the 1st quarter valued at $1,489,000. 78.44% of the stock is currently owned by hedge funds and other institutional investors.

Dynavax Technologies Company Profile

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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