Dynavax Technologies Co. (NASDAQ:DVAX) was the recipient of a large growth in short interest in October. As of October 31st, there was short interest totalling 15,327,587 shares, a growth of 47.5% from the October 15th total of 10,391,487 shares. Approximately 24.7% of the company’s stock are sold short. Based on an average trading volume of 2,066,553 shares, the short-interest ratio is presently 7.4 days.
DVAX has been the subject of several research reports. Cantor Fitzgerald reissued a “buy” rating and issued a $30.00 target price on shares of Dynavax Technologies in a research report on Monday, October 1st. Cowen reissued a “buy” rating and issued a $30.00 target price on shares of Dynavax Technologies in a research report on Monday, October 22nd. Zacks Investment Research raised Dynavax Technologies from a “sell” rating to a “hold” rating in a research report on Thursday, August 9th. ValuEngine raised Dynavax Technologies from a “sell” rating to a “hold” rating in a research report on Tuesday, October 23rd. Finally, BidaskClub raised Dynavax Technologies from a “sell” rating to a “hold” rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $28.00.
Shares of NASDAQ:DVAX opened at $12.09 on Friday. Dynavax Technologies has a 52-week low of $9.63 and a 52-week high of $22.80. The company has a market capitalization of $756.69 million, a PE ratio of -6.99 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 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 return on equity of 87.67% and a negative net margin of 5,044.85%. The firm had revenue of $1.46 million during the quarter, compared to the consensus estimate of $3.16 million. During the same period in the prior year, the company posted ($0.38) EPS. The firm’s revenue was up 2822.0% on a year-over-year basis. Equities research analysts forecast that Dynavax Technologies will post -2.49 EPS for the current year.
A number of hedge funds have recently bought and sold shares of DVAX. 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 valued at $903,000 after buying an additional 3,834 shares in the last quarter. LPL Financial LLC bought a new position in Dynavax Technologies during the 1st quarter valued at approximately $283,000. 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 valued at $2,228,000 after buying an additional 7,522 shares in the last quarter. Xact Kapitalforvaltning AB bought a new position in Dynavax Technologies during the 1st quarter valued at approximately $200,000. Finally, WINTON GROUP Ltd bought a new position in Dynavax Technologies during the 1st quarter valued at approximately $199,000. 81.48% of the stock is owned by 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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