Dynavax Technologies (DVAX) Upgraded to Sell by BidaskClub

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Dynavax Technologies (NASDAQ:DVAX) was upgraded by equities research analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research report issued to clients and investors on Thursday.

A number of other equities analysts also recently issued reports on the company. Cantor Fitzgerald reaffirmed a “buy” rating and set a $30.00 price target on shares of Dynavax Technologies in a research report on Monday, October 1st. Zacks Investment Research raised Dynavax Technologies from a “sell” rating to a “hold” rating in a research report on Thursday, August 9th. Finally, ValuEngine downgraded Dynavax Technologies from a “buy” rating to a “hold” rating in a research report on Tuesday, July 10th. Two analysts have rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $27.50.

Shares of DVAX stock opened at $11.29 on Thursday. The firm has a market cap of $776.43 million, a PE ratio of -6.53 and a beta of 0.30. 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 has a 12-month low of $10.35 and a 12-month high of $23.85.

Dynavax Technologies (NASDAQ:DVAX) last issued its quarterly earnings results on Monday, August 6th. The biopharmaceutical company reported ($0.63) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.01). The business had revenue of $1.25 million for the quarter, compared to analyst estimates 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 business’s revenue for the quarter was up 1094.3% on a year-over-year basis. During the same period in the previous year, the company posted ($0.41) earnings per share. On average, analysts predict that Dynavax Technologies will post -2.39 earnings per share for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DVAX. Wells Fargo & Company MN increased its position in shares of Dynavax Technologies by 9.2% in the 1st quarter. Wells Fargo & Company MN now owns 45,516 shares of the biopharmaceutical company’s stock valued at $903,000 after acquiring an additional 3,834 shares during the period. Schwab Charles Investment Management Inc. increased its position in shares of Dynavax Technologies by 4.6% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 289,080 shares of the biopharmaceutical company’s stock valued at $5,739,000 after acquiring an additional 12,650 shares during the period. New York State Common Retirement Fund increased its position in shares of Dynavax Technologies by 10.8% in the 1st quarter. New York State Common Retirement Fund now owns 65,700 shares of the biopharmaceutical company’s stock valued at $1,304,000 after acquiring an additional 6,400 shares during the period. California Public Employees Retirement System increased its position in shares of Dynavax Technologies by 169.0% in the 1st quarter. California Public Employees Retirement System now owns 83,633 shares of the biopharmaceutical company’s stock valued at $1,660,000 after acquiring an additional 52,545 shares during the period. Finally, Commonwealth Equity Services LLC acquired a new position in shares of Dynavax Technologies in the 1st quarter valued at $212,000. 82.02% 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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