Dynavax Technologies (DVAX) Upgraded to “Hold” at ValuEngine

Dynavax Technologies (NASDAQ:DVAX) was upgraded by research analysts at ValuEngine from a “sell” rating to a “hold” rating in a note issued to investors on Thursday.

DVAX has been the subject of several other research reports. Cowen reaffirmed a “buy” rating and set a $30.00 price target on shares of Dynavax Technologies in a report on Monday, October 22nd. Cantor Fitzgerald set a $30.00 price objective on Dynavax Technologies and gave the stock a “buy” rating in a research report on Friday, October 19th. Royal Bank of Canada lowered their price objective on Dynavax Technologies from $26.00 to $25.00 and set an “outperform” rating on the stock in a research report on Tuesday. Zacks Investment Research cut Dynavax Technologies from a “hold” rating to a “sell” rating in a research report on Thursday. Finally, BidaskClub upgraded Dynavax Technologies from a “strong sell” rating to a “sell” rating in a research report on Thursday, October 11th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $28.00.

Dynavax Technologies stock traded up $0.72 during mid-day trading on Thursday, hitting $12.79. 1,814,771 shares of the company’s stock traded hands, compared to its average volume of 1,384,374. Dynavax Technologies has a fifty-two week low of $9.63 and a fifty-two week high of $22.80. The company has a market capitalization of $729.47 million, a price-to-earnings ratio of -7.39 and a beta of 0.61. The company has a debt-to-equity ratio of 0.76, a current ratio of 8.87 and a quick ratio of 8.67.

Dynavax Technologies (NASDAQ:DVAX) last announced its quarterly earnings results on Monday, November 5th. The biopharmaceutical company reported ($0.65) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.57) by ($0.08). Dynavax Technologies had a negative net margin of 5,044.85% and a negative return on equity of 87.67%. The business had revenue of $1.46 million for the quarter, compared to analyst estimates of $3.16 million. During the same period in the prior year, the business earned ($0.38) EPS. The company’s revenue for the quarter was up 2822.0% compared to the same quarter last year. As a group, equities analysts anticipate that Dynavax Technologies will post -2.39 earnings per share for the current fiscal year.

A number of hedge funds have recently bought and sold shares of the business. Wells Fargo & Company MN increased its position in Dynavax Technologies by 9.2% during the 1st quarter. Wells Fargo & Company MN now owns 45,516 shares of the biopharmaceutical company’s stock worth $903,000 after buying an additional 3,834 shares during the period. JPMorgan Chase & Co. increased its position in Dynavax Technologies by 1.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 264,669 shares of the biopharmaceutical company’s stock worth $3,282,000 after buying an additional 4,591 shares during the period. Creative Planning increased its position in Dynavax Technologies by 2.6% during the 2nd quarter. Creative Planning now owns 235,105 shares of the biopharmaceutical company’s stock worth $3,585,000 after buying an additional 5,857 shares during the period. Guggenheim Capital LLC increased its position in Dynavax Technologies by 7.2% during the 1st quarter. Guggenheim Capital LLC now owns 112,278 shares of the biopharmaceutical company’s stock worth $2,228,000 after buying an additional 7,522 shares during the period. Finally, Patriot Financial Group Insurance Agency LLC increased its position in Dynavax Technologies by 39.2% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 29,170 shares of the biopharmaceutical company’s stock worth $362,000 after buying an additional 8,220 shares during the period. Hedge funds and other institutional investors own 81.48% of the company’s stock.

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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