Dynavax Technologies (DVAX) Downgraded to Strong Sell at BidaskClub

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BidaskClub downgraded shares of Dynavax Technologies (NASDAQ:DVAX) from a sell rating to a strong sell rating in a report published on Saturday.

DVAX has been the topic of a number of other research reports. Cantor Fitzgerald reissued a buy rating and issued a $27.00 price target on shares of Dynavax Technologies in a research note on Tuesday, May 8th. ValuEngine cut Dynavax Technologies from a buy rating to a hold rating in a research note on Thursday, May 17th. JPMorgan Chase & Co. upgraded Dynavax Technologies from a neutral rating to an overweight rating and set a $25.00 price objective for the company in a research report on Thursday, May 10th. Finally, Zacks Investment Research upgraded Dynavax Technologies from a sell rating to a hold rating in a research report on Thursday, August 9th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of Hold and a consensus target price of $27.50.

Shares of DVAX opened at $12.80 on Friday. The stock has a market capitalization of $788.96 million, a P/E ratio of -7.40 and a beta of 0.29. Dynavax Technologies has a 1-year low of $12.07 and a 1-year high of $24.45. The company has a debt-to-equity ratio of 0.76, a quick ratio of 8.67 and a current ratio of 8.87.

Dynavax Technologies (NASDAQ:DVAX) last issued its quarterly 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). The company had revenue of $1.25 million during the quarter, compared to analysts’ expectations of $1.88 million. Dynavax Technologies had a negative return on equity of 72.31% and a negative net margin of 8,570.06%. The company’s revenue for the quarter was up 1094.3% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.41) EPS. equities analysts forecast that Dynavax Technologies will post -2.39 EPS for the current year.

In other Dynavax Technologies news, insider Michael S. Ostrach sold 4,000 shares of the firm’s stock in a transaction dated Friday, June 8th. The stock was sold at an average price of $15.53, for a total transaction of $62,120.00. Following the completion of the sale, the insider now directly owns 80,554 shares in the company, valued at approximately $1,251,003.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 3.47% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Tiverton Asset Management LLC acquired a new stake in shares of Dynavax Technologies during the 2nd quarter valued at about $184,000. WINTON GROUP Ltd acquired a new stake in shares of Dynavax Technologies during the 1st quarter valued at about $199,000. Xact Kapitalforvaltning AB acquired a new stake in shares of Dynavax Technologies during the 1st quarter valued at about $200,000. Commonwealth Equity Services LLC acquired a new stake in shares of Dynavax Technologies during the 1st quarter valued at about $212,000. Finally, Bank of Montreal Can lifted its holdings in shares of Dynavax Technologies by 365.4% during the 2nd quarter. Bank of Montreal Can now owns 13,938 shares of the biopharmaceutical company’s stock valued at $213,000 after buying an additional 10,943 shares during the last quarter. Institutional investors and hedge funds own 83.79% of the company’s stock.

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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