Dynavax Technologies (NASDAQ:DVAX) Raised to Hold at BidaskClub

Dynavax Technologies (NASDAQ:DVAX) was upgraded by stock analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued on Saturday, June 29th, BidAskClub reports.

Several other research firms have also recently issued reports on DVAX. Royal Bank of Canada reissued a “buy” rating on shares of PrairieSky Royalty in a research note on Friday, May 24th. William Blair reissued a “buy” rating on shares of Dynavax Technologies in a research note on Friday, June 21st. Zacks Investment Research upgraded Gerdau from a “sell” rating to a “hold” rating in a report on Monday, May 13th. Cowen restated a “buy” rating on shares of Odonate Therapeutics in a report on Monday, June 3rd. Finally, ValuEngine lowered Zosano Pharma from a “buy” rating to a “hold” rating in a report on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $16.81.

DVAX remained flat at $$3.66 during trading on Friday. The company had a trading volume of 573,927 shares, compared to its average volume of 1,528,169. The company has a market capitalization of $238.13 million, a price-to-earnings ratio of -1.44 and a beta of 0.67. The firm’s 50 day moving average is $4.02. The company has a debt-to-equity ratio of 4.88, a current ratio of 5.27 and a quick ratio of 4.61. Dynavax Technologies has a 52-week low of $3.40 and a 52-week high of $15.95.

Dynavax Technologies (NASDAQ:DVAX) last issued its quarterly earnings data on Wednesday, May 8th. The biopharmaceutical company reported ($0.62) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.67) by $0.05. Dynavax Technologies had a negative return on equity of 190.84% and a negative net margin of 1,156.11%. The firm had revenue of $5.77 million during the quarter, compared to the consensus estimate of $5.95 million. During the same period in the prior year, the business earned ($0.63) EPS. The firm’s revenue was up 3294.1% on a year-over-year basis. As a group, analysts forecast that Dynavax Technologies will post -2.13 earnings per share for the current year.

In related news, SVP Robert Coffman sold 32,218 shares of the stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $4.58, for a total value of $147,558.44. Following the completion of the sale, the senior vice president now directly owns 132,470 shares of the company’s stock, valued at approximately $606,712.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 4.90% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of DVAX. FMR LLC increased its holdings in shares of Dynavax Technologies by 39.1% during the 4th quarter. FMR LLC now owns 2,055,785 shares of the biopharmaceutical company’s stock valued at $18,810,000 after acquiring an additional 577,868 shares during the last quarter. Millennium Management LLC lifted its position in shares of Dynavax Technologies by 513.7% in the 4th quarter. Millennium Management LLC now owns 614,930 shares of the biopharmaceutical company’s stock worth $5,627,000 after acquiring an additional 514,736 shares during the period. Macquarie Group Ltd. bought a new stake in shares of Dynavax Technologies in the 4th quarter worth approximately $4,575,000. Chicago Capital LLC lifted its position in shares of Dynavax Technologies by 18.8% in the 1st quarter. Chicago Capital LLC now owns 2,544,142 shares of the biopharmaceutical company’s stock worth $18,598,000 after acquiring an additional 402,411 shares during the period. Finally, Rhenman & Partners Asset Management AB bought a new position in shares of Dynavax Technologies during the 1st quarter worth approximately $2,083,000. 81.94% of the stock is currently owned by institutional investors and hedge funds.

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 markets HEPLISAV-B, a hepatitis B vaccine for prevention of infection caused by all known subtypes of hepatitis B virus in adults age 18 years and older.

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