Zacks Investment Research lowered shares of Dynavax Technologies (NASDAQ:DVAX) from a hold rating to a sell rating in a research report report published on Thursday.
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. “
A number of other equities research analysts have also recently issued reports on the stock. Cantor Fitzgerald reiterated an overweight rating and set a $28.00 target price (down previously from $32.00) on shares of Dynavax Technologies in a research report on Tuesday, February 26th. BidaskClub cut shares of Dynavax Technologies from a sell rating to a strong sell rating in a research report on Monday, February 25th. Finally, ValuEngine cut shares of Dynavax Technologies from a hold rating to a sell rating in a research report on Monday, February 4th. Three investment analysts have rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. Dynavax Technologies currently has an average rating of Hold and a consensus target price of $27.00.
Dynavax Technologies (NASDAQ:DVAX) last announced its earnings results on Tuesday, February 26th. The biopharmaceutical company reported ($0.64) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.04). The firm had revenue of $3.90 million for the quarter, compared to analyst estimates of $3.43 million. Dynavax Technologies had a negative return on equity of 139.00% and a negative net margin of 1,938.27%. The company’s revenue for the quarter was up 18471.4% compared to the same quarter last year. During the same quarter last year, the business earned ($0.45) EPS. As a group, equities research analysts forecast that Dynavax Technologies will post -2.1 EPS for the current fiscal year.
In other Dynavax Technologies news, VP David Louis Johnson sold 20,765 shares of the stock in a transaction dated Thursday, February 28th. The shares were sold at an average price of $9.03, for a total transaction of $187,507.95. Following the sale, the vice president now owns 52,786 shares of the company’s stock, valued at approximately $476,657.58. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Robert Coffman sold 63,202 shares of the stock in a transaction dated Thursday, February 28th. The stock was sold at an average price of $9.03, for a total transaction of $570,714.06. Following the sale, the senior vice president now directly owns 86,268 shares in the company, valued at approximately $779,000.04. The disclosure for this sale can be found here. In the last three months, insiders have sold 119,411 shares of company stock worth $1,075,091. Insiders own 3.47% of the company’s stock.
A number of large investors have recently modified their holdings of the business. Geode Capital Management LLC grew its holdings in Dynavax Technologies by 9.6% during the 4th quarter. Geode Capital Management LLC now owns 650,953 shares of the biopharmaceutical company’s stock worth $5,956,000 after acquiring an additional 57,082 shares during the last quarter. FMR LLC boosted its stake in shares of Dynavax Technologies by 39.1% in the 4th quarter. FMR LLC now owns 2,055,785 shares of the biopharmaceutical company’s stock valued at $18,810,000 after purchasing an additional 577,868 shares during the last quarter. Millennium Management LLC boosted its stake 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 valued at $5,627,000 after purchasing an additional 514,736 shares during the last quarter. Wall Street Access Asset Management LLC boosted its stake in shares of Dynavax Technologies by 7.0% in the 4th quarter. Wall Street Access Asset Management LLC now owns 15,300 shares of the biopharmaceutical company’s stock valued at $140,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Macquarie Group Ltd. bought a new position in shares of Dynavax Technologies in the 4th quarter valued at about $4,575,000. 84.11% of the stock is currently owned by hedge funds and other institutional investors.
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'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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